Production increase from US operations
Rocksource ASA Group has through its US subsidiaries recently completed the Morian 4 well and started to deliver gas to sales. The current flow rate is ca. 1.5 million cubic feet/day, equivalent to ca. 250 barrels of oil equivalent (boe) per day, through an 8/64" choke. This is in excess of expectations given by Sandhawk Energy LLC who is the formal operator of the well. The well is currently flowing without any stimulation, but this may be considered at a later stage.
The production rate is very encouraging and is an important step towards achieving the target of production in excess of 1,000 boe/day within 2007.
The drilling rig is currently deepening the Morian 3 well to increase the reserve and production potential. The result from this deepening is expected to be announced shortly, and the rig will move to the Morian 5 location to spud the next production well.
Oslo, 26.2.2007
Rocksource ASA
Trygve Pedersen
CEO
+47 90 09 77 41
Published: 26.02.2007
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