Exploration Update – Significant Portfolio Growth
On 30th of April 2009, Rocksource ASA was awarded 3 new licences in the 20th Licensing Round on the Norwegian Continental Shelf, see separate announcement 4th of May.
These awards have two major impacts:
1. They mark a significant upgrade in the value of the Rocksource exploration portfolio
2. They will add to the company’s growing queue of low risk, high value drilling prospects associated with robust CSEM anomalies.
Further to the Stock Exchange notice issued on 25th Feb 2009, this award has added 240 million barrels of oil equivalent (mmboe) net risked resources to the existing prospect portfolio creating a total portfolio value of 630 mmboe net risked recoverable resources. More importantly, this award also increases the number of drillable prospects with associated CSEM anomalies forming the beginning of an exciting low risk and high value drill queue over the next few years.
Rocksource expects to add further low risk, high value drillable CSEM positive prospects as the year progresses and CSEM results from the AGC Profond PSC and its existing Norwegian licences are completed.
Oslo, 4.5.2009
Rocksource ASA
Trygve Pedersen
CEO
+ 47 90 09 77 41
Contact Information
Address:
Thormøhlensgate 53 D
Postboks 994 Sentrum
N-5808 Bergen
Norway
| Phone: | +47 05369 |
| From abroad: | +47 21 49 32 69 |
| Fax: | +47 55 36 87 98 |
Per Anders Muri
VP Corporate Communications
Phone: +47 91 11 61 21
per.anders.muri@rocksource.com