Rocksource ASA ("Rocksource" or "Company") is pleased to announce that drilling of exploration well 6707/10-3 S in PL 528 has commenced.

Rocksource ASA ("Rocksource" or "Company") is pleased to announce that drilling of exploration well 6707/10-3 S in PL 528 has commenced. The well will target the Ivory prospect, which is located 20 km northeast of the Statoil-operated Aasta Hansteen field development in the Norwegian Sea.

The primary objective of the well is to prove the presence of hydrocarbons in the Kvitnos formation sandstones, with a secondary target in the Lysing formation. Rocksource estimates the Ivory prospect to have the potential to contain unrisked, gross prospective resources in the range of 280 to 1280 bscf of gas (50 to 230 million barrels of oil equivalent) in the primary target.

The planned total depth is 4149 metres below mean sea level (true vertical depth). The well will be drilled using the drill ship West Navigator. Rocksource Exploration Norway holds a 10 per cent interest in PL 528. Partners are Centrica, Operator with 40 per cent, Statoil 35 per cent, Atlantic Petroleum Norge 9 per cent* and Repsol 6 per cent*.