Key Developments: Rocksource ASA (RGT.OL)

RGT.OL on Oslo Stock Exchange

25 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Rocksource ASA commences drilling of Bue sidetrack well in license PL 586 shared with Faroe Petroleum Plc, VNG and Spike Exploration
Thursday, 12 Jun 2014 03:00am EDT 

Rocksource ASA:Says drilling of the Bue sidetrack well, 6406/12-3A, to the North of the Pil discovery in PL 586, shared with VNG, Spike Exploration and Faroe Petroleum Plc, has commenced.Bue sidetrack follows appraisal well on Pil discovery.Results from the appraisal well led Rocksource to update its resource estimate for Pil to a range of 90 to 150 mln barrels oil equivalent (mmboe) with a mean volume of 115 mmboe.Bue has unrisked volume potential of 8 to 32 mmboe (Rocksource estimate), and is regarded as a medium risk exploration prospect.Bue sidetrack will be drilled by Transocean Arctic, drilling is expected to take about 30 days.Rocksource Exploration Norway holds a 15 pct interest in PL 586 and partners are VNG (Operator) with 30 pct, Spike Exploration 30 pct and Faroe Petroleum 25 pct.  Full Article

Rocksource elects Ole Wiborg Chairman
Wednesday, 28 May 2014 05:53am EDT 

Rocksource ASA:Elects Ole Wiborg Chairman of the company's Board.He has been elected for a period until the Annual General Meeting in 2015.  Full Article

Rocksource appoints Hans Petter Klohs as new CFO
Wednesday, 21 May 2014 02:45am EDT 

Rocksource ASA:Appoints Hans Petter Klohs as the new Chief Financial Officer (CFO) as of June 2.  Full Article

Rocksource proposes NOK 40 mln rights issue
Monday, 5 May 2014 02:23am EDT 

Rocksource ASA:Plans a 40 million Norwegian crown rights issue, net of costs.Says the company's largest shareholder Larsen Oil & Gas, with about 28 percent of the company's shares, has indicated its support for the transaction.Will use proceeds to fully finance the Pil and Bue programme and secure working capital for the remainder of 2014.Expects subscription period in the rights issue to run from June 4 to and including June 18.SEB is acting as manager for the rights issue.Advokatfirmaet Schjodt is acting as legal advisor.  Full Article

Atlantic Petroleum acquires 15-percent interest in PL528/PL528B from Rocksource
Tuesday, 29 Apr 2014 02:02am EDT 

Atlantic Petroleum P/F:Says has decided to acquire 15 percent of the participating interest in PL528/PL528B in Norwegian Sea.The license contains the Ivory Prospect.Announced the farm-in option agreement with Rocksource ASA on Jan. 2.Post the deal the license partners will include Centrica (operator) with an equity interest of 40 percent, Statoil with 35-percent interest and Rocksource with 10-percent interest.  Full Article

Rocksource announces start of drilling of PL586 Pil sidetrack in license shared with VNG, Spike Exploration and Faroe Petroleum
Monday, 28 Apr 2014 02:45am EDT 

Rocksource ASA:Says that drilling of the Pil sidetrack well, 6406/12-3 B, in PL 586 (shared with VNG, Spike Exploration and Faroe Petroleum Plc) has commenced.The discovery well (6406/12-3 S) has been plugged back to the 20 inch casing shoe from where the sidetrack starts.The sidetrack is targeted down-dip of the discovery well and its main objectives are to prove the lateral extent of the Pil reservoir, narrow the volume range and test the upside within the closure.The sidetrack will be drilled using the drilling rig Transocean Arctic.Drilling is expected to take about 30 days.Rocksource Exploration Norway holds a 15 percent interest in PL 586.Partners are VNG (Operator) with 30 percent, Spike Exploration 30 percent and Faroe Petroleum 25 percent.  Full Article

Rocksource says results of well test on pil discovery exceed expectations
Thursday, 10 Apr 2014 02:30am EDT 

Rocksource ASA:Announces successful production test (a Drill Stem Test/DST) on the Pil exploration well.Says pil is located on the Halten Terrace in Production Licence (PL) 586, about 33 kilometres southwest of the Njord field and its associated production facilities.The well flowed at 1067 Sm3 (6700 barrels) of oil per day, exceeding expectations.Preliminary estimates place the size of the Pil discovery at between 8 and 27 million Sm3 recoverable oil equivalents (50 to 170 million barrels oil equivalent).Rocksource, through Rocksource Exploration Norway, holds a 15 percent interest in PL 586.  Full Article

Det Norske Oljeselskap ASA to complete drilling on well 7222/11-2 in production license 659 shared with Rocksource ASA and Lundin Petroleum AB's Lundin Norway AS
Friday, 21 Feb 2014 02:01am EST 

Det Norske Oljeselskap ASA:Says it is about to complete drilling operations on well 7222/11-2 on the Langlitinden prospect in production license 659 shared with Rocksource ASA and Lundin Petroleum AB’s Lundin Norway AS, where Det norske is operator with a 20 pct ownership interest.Says the well (7222/11-2) encountered an oil-bearing channel sand of Triassic age.Says the primary objective of well 7222/11-2 was to prove hydrocarbons in the Kobbe Formation reservoir (Triassic) and notably to prove good flow properties in the same reservoir.Says the well encountered oil in channel sand, which also was the main target for the well.Says movable hydrocarbons were proved in the main target for the well, but mini-DST proved poor reservoir properties.Says the well was drilled to a total depth of 2,878 meters below sea level. The water depth is 338 meters.Says the well will be permanently plugged and abandoned.Says the licensees in PL659 are Det norske oljeselskap ASA (20 pct), Lundin Norway AS (20 pct), Tullow (15 pct), Rocksource ASA(5 pct), Petoro (30 pct) and Atlantic (10 pct).  Full Article

Rocksource announces resignation of CFO
Wednesday, 29 Jan 2014 02:55am EST 

Rocksource ASA:Says the Company's Chief Financial Officer (CFO), Tommy Sundt, will vacate his position as a consequence of relocation of the company's office to Bergen.Says he will remain with Rocksource until Sep. 1.  Full Article

Rocksource ASA wins five new licenses in APA 2013 Licensing Round on Norwegian Continental Shelf
Tuesday, 21 Jan 2014 08:45am EST 

Rocksource ASA:Says it has been awarded five new licenses in the APA 2013 Licensing Round on the Norwegian Continental Shelf announced on Jan. 21 by the Ministry of Petroleum and Energy.  Full Article

NORDIC STOCKS - Factors to watch on Feb 10

(Adds Det norske, Lundin Petroleum and Rocksource, updates Securitas)

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