Rocksource Feb. U.S. Production Averaged 2,116 boe/d
Rocksource ASA reported that the February 2008 production from its US subsidiaries averaged 2,116 boepd. The stated production numbers are based on metered daily production, and may thus differ slightly from the final production volumes that will be used for accounting purposes due to changes in stock volumes etc.
The completion and tie-in of the last two wells was planned for February, but has been slightly delayed due to technical reasons which are now being solved. The production is in line with expectations communicated in January that average production through first quarter 2008 will be 2,100 boepd.
Both oil and natural gas prices in the US were at very high levels at end February after sharp increases through the month. The publicised forecasts are for both prices to stay high through the first half of 2008.
Rocksource is currently evaluating options for further production drilling, new exploration targets and opportunities for further asset acquisitions to secure continued growth in our successful US business.