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.