Rocksource announced that the February 2009 production from its US subsidiaries averaged 1,768 boepd (barrels of oil equivalent per
The final development well in the 2008 drilling campaign was spud on Feb. 5. The well is currently drilled to total depth and casing has been
The Granbury exploration wells have been drilled on new structures and are still being tested. Successful test results will lead to an extensive review of the entire development area where several additional wells must be drilled before a new development is commercially viable at the current low gas prices.
In addition to evaluating development options for the Granbury discoveries, Rocksource is reviewing growth opportunities to secure further production increase. The target of increasing production to 5,000 boepd by 2010 remains, but may be changed if prices do not improve.
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