July 2008 production update and start of third drilling campaign
Rocksource ASA (“Rocksource”) is pleased to announce that the July 2008 production from its US subsidiaries averaged 2,630 boepd (barrels of oil equivalent per day). This compares to the June production of 2,682 boepd. 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.
Production in July has been stable with only minor technical downtime. The production level is expected to remain around the current plateau supported by various well re-completions and the drilling of 4 new production wells as part of the 3rd drilling campaign.
The 2008 campaign was scheduled to start in July but a delay in delivery of the drilling rig to Rocksource has caused this to start in August. The drilling rig is ready to move to location to start this drilling campaign, which includes the drilling of two exploration wells. This will enable a possible acceleration of new production given success in the exploration drilling.
Oslo, 6.8.2008
Rocksource ASA
Trygve Pedersen
CEO
+47 90 09 77 41
Published: 06.08.2008
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