Rocksource Reports Stable U.S. Production

Rocksource ASA announced that the July 2008 production from its US subsidiaries averaged 2,630 boepd. This compares to the June production of 2,682 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.

Production in July has been stable with only minor technical downtime. The production level is expected to remain around the current plateau supported by various well re-completions and the drilling of 4 new production wells as part of the 3rd drilling campaign.

The 2008 campaign was scheduled to start in July but a delay in delivery of the drilling rig to Rocksource has caused this to start in August. The drilling rig is ready to move to location to start this drilling campaign, which includes the drilling of two exploration wells. This will enable a possible acceleration of new production given
success in the exploration drilling.