Rocksource Halfway through US Drilling Campaign

Rocksource is halfway through the 2nd drilling campaign of 4 additional production wells in the Drews Landing field in Texas. Two wells have been successfully drilled and logged with good indications of moveable hydrocarbons. Both wells are now being prepared for completion and production.

The Morian #7 well was spudded on October 8th , and reached total depth (TD) on the October 27th. The rig was then moved to Morian #9, which spudded on the 6th November and reached TD on the 24th. Results for each well were as expected.

In addition to the drilling, new processing facilities are being built to cope with the increased production. These facilities is estimated to be completed by 19th December and both of the new wells will be brought on stream soon after.

Morian #8 will be spud next week and should TD in late December. The rig will then move to West #9 to drill the final well in the 2nd campaign in early January. Further wells may be drilled later in 2008, depending upon the performance of the current well stock and the results of the ongoing technical evaluations.