February 2008 production update
Rocksource ASA (“Rocksource”) is pleased to announce that the February 2008 production from its US subsidiaries averaged 2,116 boepd (barrels of oil equivalent per day). The stated production numbers are based on metered daily production, and may thus differ slightly from the final production volumes that will be used for accounting purposes due to changes in stock volumes etc.
The completion and tie-in of the last two wells was planned for February, but has been slightly delayed due to technical reasons which are now being solved. The production is in line with expectations communicated in January that average production through first quarter 2008 will be 2,100 boepd.
Both oil and natural gas prices in the US were at very high levels at end February after sharp increases through the month. The publicised forecasts are for both prices to stay high through the first half of 2008.
Rocksource is currently evaluating options for further production drilling, new exploration targets and opportunities for further asset acquisitions to secure continued growth in our successful US business.
Oslo, 6.3.2008
Rocksource ASA
Trygve Pedersen - CEO
+47 90 09 77 41
Published: 06.03.2008
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