Rocksource Issues Update on US Drilling Program

Rocksource ASA said that it is executing a drilling campaign onshore US with the aim of establishing a production level of more than 1000 barrels of oil equivalent per day in 2007. Reference is made to the stock exchange notice of 23 November 2006.

Rocksource ASA Group, through its US subsidiaries Rocksource Energy Corporation and Sandhawk Energy LLC has drilled the first exploration well in its previously announced US drilling campaign to its planned depth. The well has been fully logged and casing has been set and cemented.

The logs indicate hydrocarbon presence in several zones. A testing program is initiated and the final results will be known after production testing. Further information will be released in due course.

The drilling rig is being moved to a new location to spud a second exploration well to test an adjacent structure.