Rocksource Cites 100MM Barrel Estimate for Cyclops Prospect in North Sea

Rocksource has acquired a CSEM (Controlled Source Electromagnetic) survey over the 100% owned and operated Cyclops prospect in PL 456 (parts of blocks 17/6 and 17/9) on the Norwegian Continental Shelf. The prospect is estimated to contain 100 million barrels of recoverable oil. The prospect is located just north of the Bream and Brisling discoveries and is part of the same play.

The CSEM data will now be processed and interpreted in Rocksource’s proprietary software. The results will then be integrated with our other geological and geophysical data to support the decision to move on to the next phase of the work program.

Business Unit Manager for Norway/UK, Ole J. Ostvedt stated, "This is an exiting opportunity with a significant value potential for Rocksource. Given an encouraging outcome we will pursue this through an aggressive exploration program. Rocksource has already secured a drilling rig which can be used for drilling an exploration well on Cyclops