Rocksource Awarded Patents

Rocksource has been awarded two patents from the Norwegian Patent Office. The patents will aid the company's efforts to maximize the use of electromagnetic (EM) data in complex settings, including shallow water settings where added noise complicates analyses. Chief Technology Officer, Dr. Jonny Hesthammer, states that 'Patents are important for Rocksource both to protect our intellectual property and to bring the technology forward. The use of EM data for exploration purposes is proven with a significant potential. However, the technology development is still in an early phase, and as we work with research and development, we continuously see potential for improvements in relation to modelling, acquisition and analyses. Parts of our research lead to new inventions that can be patented. The new patents will help us to further strengthen our position and to bring new business opportunities to the company.'

Rocksource is currently executing a well campaign onshore US with the aim of establishing a production level of more than 1000 barrels of oil equivalent per day in 2007. Rocksource has also applied for licenses together with established operators in the UK 24th round and the APA round on the NCS in 2006. Awards in these rounds will give Rocksource an exploration portfolio that will allow EM driven exploration. Rocksource is also actively seeking entry into high potential opportunities where EM technology can be used to detect and delineate hydrocarbons.

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