Rocksource CSEM Campaign Completion November 2007
The Rocksource ASA Group (“Rocksource”) has completed its CSEM acquisition campaign for 2007. The campaign objectives were to acquire CSEM data in preparation for the 20th Round, complete license commitments in Norway and to de-risk block 211/7b prospectivity in the UK. All objectives were achieved and the campaign was operated without incident or accident. The acquisition was completed by emgs to an excellent standard of data quality, operational efficiency and safe working practices.
The 20th Round program has allowed Rocksource to obtain a unique dataset covering 38 prospects in open acreage for the forthcoming 20th Licensing Round. The round was announced earlier this month by the OED and the acquisition program places Rocksource in excellent position for block nomination on January 15th, 2008 and then application submission later in 2008. The prospects surveyed contain > 7,5Bbbls of unrisked reserves and the application of the technology will allow Rocksource to rapidly identify high graded prospectivity early in the application process, increasing the chance of capture and subsequent discovery.
Rocksource also acquired data over three licenses (PL 416 and PL441 in Norway and PL 1378 in the UK). Rocksource acted as survey technical advisor on behalf of PL 416 operator, EonRuhrgas and survey operator for PL 441 operator DNO fulfilling all license commitments. Rocksource also funded the CSEM acquisition over two prospects in license P1378 (211/7b) which has earned Rocksource 100% interest in the block with current owner Capital Oil retaining the option for a 10% carry through the exploration phase. These prospects amount to > 100mmboe unrisked reserves net to Rocksource. Decisions to enter into the next stage of the work program of these licenses will be driven by the result of these surveys.
The acquisition of such a significant quantity of data will also allow Rocksource to continue development of its proprietary software system, Rocksource Discover, and test the limits of this new exploration technology.
Oslo, 23.11.2007
Rocksource ASA
Trygve Pedersen
CEO
+47 90 09 77 41
Published: 23.11.2007
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