Atlantic receives Ivory well farm-in option

Offshore staff

OSLO, Norway – Rocksource has a farm-out option deal with Atlantic Petroleum Norge for license PL 528 in the Norwegian Sea.

It gives Atlantic the right to acquire 5-15% of the license by April 28. A well is due to be drilled on the Ivory prospect in the second half of 2014.

Ivory, thought to be prospective for gas, is near the Statoil-operated Aasta Hansteen field development. Rocksource estimates potential resources in the range of 55-306 MMboe.

Centrica operates, in partnership with Statoil and Rocksource.

In a separate development, Rocksource has agreements with the Norwegian division of a European oil and gas company concerning the sale of electromagnetic (EM) data and licensing of the proprietary Rocksource Discover software (RD4).

The latter is used for processing, modeling, and inversion of EM data for exploration and production purposes.

Rocksource has agreed to grant the licensee a perpetual and non-exclusive license to the latest working version of RD4.

01/02/2014

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