Rocksource Hits End-of-Year Production Target in Early January

Rocksource ASA has exceeded current production from its US subsidiaries after going over 2,000 boepd (barrels of oil equivalent per day), surpassing current production target for 2008.

Following the acquisition of Sandhawk Energy LLC in October 2006, 2,000 boepd was set as the production target for the fields, to be met by the end of 2008. As a result of the positive developments during 2007 the production target for year-end 2008 has been brought forward on a number of occasions, most recently to be reached within January 2008.

The final well in the current drilling campaign has now been spudded and is expected to be completed within January. Results from all wells will then be incorporated in to the field reservoir model to ascertain whether further drilling may enhance overall economic results from the two fields. This work will lead to revised production profiles for the fields, which will be published in due course. Rocksource will publish monthly production updates throughout 2008.