Rocksource Announces Start of Drilling at Storbarden Well

Rocksource ASA announced that drilling of the Storbarden well in PL 506S in the North Sea has commenced. This marks the return to drilling for Rocksource, and the first of five wells that the Company currently has lined up for drilling over the next two years.

Storbarden has been evaluated by Rocksource as a high risk/high reward prospect in the Stord basin, an under-explored part of the North Sea. The exploration well will test a new charge and retention model. The main Storbarden target is a stratigraphic trap in the Tertiary Balder formation, while the Langenuen prospect in the Utsira formation is defined as a secondary target.

Rocksource is the operator of the PL 506S licence with a 25 per cent working interest. The partners in PL 506S are Petoro (20 per cent), Petrolia (30 per cent) and Valiant (25 per cent). The well is being drilled by the semi-submersible rig Borgland Dolphin and is anticipated to take around 34 days to complete in a dry case scenario.

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Press Release, April 11, 2013