PA Resources Jumps After Zarat Field Agreement: Stockholm Mover
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PA Resources AB, a Swedish oil and gas exploration company operating in Africa, jumped the most in more than seven years in Stockholm trading after negotiating an agreement for the Zarat Field in Tunisia.
PA Resources rose as much as 50 percent, the steepest intraday gain since June 2005 and only the second time it has exceeded 45 percent during a day. The shares traded 0.07 krona higher at 0.27 krona as of 3:01 p.m. in Stockholm, valuing the company at 153 million kronor ($23.1 million). Volume was almost seven times the daily three-month average.