Rocksource optimistic on upcoming Norway wells

Norwegian independent Rocksource will participate in two more exploration wells this year on the Norwegian continental shelf.

Offshore staff

OSLO, Norway – Norwegian independent Rocksource will participate in two more exploration wells this year on the Norwegian continental shelf.

The wells on the Heilo (license PL 530) and Phoenix (PL 559) prospects should spud in September.

Heilo, in the Barents Sea, is on trend with Eni’s Goliat discovery to the west and Statoil’s Nucula discovery to the southeast. The license is operated by GDF Suez.

Rocksource says a successful result from Heilo will be followed by a side track for appraisal purposes. There could be over 200 MMboe in place.

PL 559 is on the Nordland Ridge, immediately east of Statoil’s Norne, Urd, Falk, and Linerle fields. There are three main prospects and several leads in the license. All three prospects, Rocksource adds, exhibit encouraging electromagnetic data responses.

Volumes in Phoenix could total 160 MMboe.

Rocksource currently has drill or drop decisions to take on Norwegian licenses PL 506, 515, 528, and 588 within the next two to six months. It is currently completing prospect evaluations in preparation for those decisions.

Drilling success this year could trigger follow-up wells in 2012, including an appraisal well in PL 535.

08/17/2011

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