Production growth and increased 2008 production target
Rocksource ASA (“Rocksource”) is pleased to announce that the June 2008 production from its US subsidiaries averaged 2,682 boepd (barrels of oil equivalent per day). This compares to the May production of 2,500 boepd and brings the average for the 2nd quarter 2008 to 2,560 boepd and 1st half of 2008 to 2,353 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 June has been stable with only minor technical downtime. The production level is expected to stay at the current plateau supported by various well re-completions and the drilling of 4 new production wells as part of the 3rd drilling campaign starting in July. This will improve profitability and cash flow of the fields and allows Rocksource to revise its 2008 daily average production target from the current 2,300 boepd to 2,500 boepd. This compares with the realised 2007 daily average production of 655 boepd.
Oslo, 2.7.2008
Rocksource ASA
Trygve Pedersen - CEO
+47 90 09 77 41
Published: 02.07.2008
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