Rocksource: Morian 4 Production Better than Expected

Rocksource ASA Group has through its US subsidiaries recently completed the Morian 4 well and started to deliver gas to sales.

The current flow rate is ca. 1.5 million cubic feet/day, equivalent to ca. 250 barrels of oil equivalent (boe) per day, through an 8/64` choke. This flow rate exceeds expectations given by Sandhawk Energy LLC, the formal operator of the well. The well is currently flowing without any stimulation, but this may be considered at a later stage.

The production rate is very encouraging and is an important step toward achieving the target of production in excess of 1,000 boe/day within 2007.

The drilling rig is currently deepening the Morian 3 well to increase the reserve and production potential. The result from this deepening is expected to be announced shortly, and the rig will move to the Morian 5 location to spud the next production well.


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