Rocksource Assets

The Rocksource portfolio currently contains production in Texas, USA, 7 exploration licenses on the UK Continental Shelf and 8 licenses on the Norwegian Continental Shelf. The company has also an equity share in the AGC Profond PSC in Senegal/Guinea Bissau and the CY DWN 2001/1 PSC, offshore India.

Rocksource prospect portfolio details

The company has now established a significant portfolio of exploration opportunities which it will begin to mature toward drilling, over the short and medium term. It will also continue to search for assets to increase its production activities in the US to provide cash flow to underpin the larger, offshore exploration programme. The following diagram illustrates a potential drill queue and the expected cummulative resource addition, comparing the net prospect volume cases Pre-CSEM, with Rocksource estimate of risk Post CSEM and on an un-risked basis.

The portfolio now contains 12 prospects which have robust CSEM anomalies associated with them. Of these, 6 represent individual and distinct prospects which would be expected to be drilled first. The remainder show similar characteristics and would be drilled as follow up potential upon first well success.

Last update August 2009