This license is located on the Nordland Ridge, immediately to the east of the Norne, Urd, Falk and Linerle fields and discoveries. The award of PL 559 strengthens Rocksource's position in the Nordland Ridge area where the company has seen encouraging results through application of EM technology in the Rocksource-operated PL 515. Several prospects have been identified within the PL 559 license, with prospectivity present at multiple reservoir levels. The PL559 prospects are defined within proven plays and analogous to the above mentioned discoveries.
The license group consists of:
Rocksource ASA (Operator): 60%
VNG Norge AS: 30%
Skagen 44 AS: 10%
• Within 2 years: G&G studies and reprocessing of 3D seismic. Drill or drop decision
• Within 4 years: Drill 1 exploration well and decide on PDO or drop.
• Within 6 years: Submit PDO
On 26. September Rocksource announced that the Phoenix well was dry. Data has been acquired, and the information from the well will be used in further evaluation of the PL559 license.

Last updated: September 2011
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