Sweden’s PA Resources voices liquidation fears

摘要

Stockholm-listed PA Resources, an explorer with interests in Africa and the North Sea, said Tuesday the fall in oil prices meant it was set to book a loss of about SEK2.1 billion ($258 million) that would put it in breach of its financial covenants and might force it into liquidation. PA Resources said the significant fall in current and expected oil prices had led it to carry out impairment tests as it readied its 2014 accounts ahead of their publication on February 4.