Rocksource is in an advanced stage of negotiations to complete a farm-in agreement with ONGC for a
On completion, ONGC will be the license operator and will hold 45% equity, Oil India holds 20% with Petrobras holding 25% from an agreement signed in October 2007, and Rocksource 10%.
Rocksource has completed an evaluation of the CSEM data on the block, which suggests the primary prospect chance of success has risen to in excess of 60% based upon an integrated CSEM-, geological- and geophysical evaluation.
Due to the release of unverified information related to the company on an Indian website, there was imposed a matching halt on trading in the stock on Friday, August 1st, in expectation of a release by the company.
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