The CSEM data is processed by the subsidiary Rocksource Geotech in the proprietary software system Rocksource Discover, prior to application. These awards mark another significant milestone in the company’s development and add multiple, high value drillable prospects to the Rocksource prospect inventory.

Gregor Maxwell, chief operating officer commented “These awards represent the successful outcome of a unique exploration programme, initiated in early 2007, designed to efficiently screen open acreage on the NCS. The awarded licenses represent the highest ranked prospects from this programme. This project has been very successful and has allowed Rocksource to make focused exploration commitments in areas which had already been largely de-risked by a comprehensive subsurface evaluation complimented by Rocksource’s proprietary CSEM toolkit. We believe each award represents low risk, high value prospectivity which could be drilled within a short time frame. We look forward to working with our new partners, to share our insights and rapidly develop these very exciting new additions to our portfolio.”

PL 528, Blocks 6707/8, 6707/9, 6707/11

This license is located on the Nyk High in the Voring basin (Norwegian Sea), immediately east and northeast of the Luva, Haklang and Snefrid discoveries. Several prospects have been identified within the license, with prospectively present at multiple reservoir levels. Three of these prospects were tested by acquiring CSEM data, prior to application. After processing of the data Rocksource has concluded that resistively anomalies are associated with the prospects, and the observed anomalies are likely to be caused by hydrocarbons.

The license group consists of:

Petro-Canada Norge AS (Operator): 40%, Centrica Resources Norge AS: 30% and Rocksource 30%

PL 530, Parts of blocks 7123/6 and 7124/4

This license is located in the Barents Sea on the very southern part of the Bjarmeland Platform/eastern edge of the Hammerfest basin on trend with the Goliat and Tornerose discoveries to the west and the Nucula discovery to the southeast. Prior to application Rocksource tested the main prospectively in the license by acquiring CSEM data. After processing of the data Rocksource has concluded that a resistively anomaly exists at the target interval, and the observed anomaly is likely to be caused by hydrocarbons.

The license group consists of GDF Suez Norge AS (Operator): 40%, Discover Petroleum AS: 20%, North Energy AS: 20% and Rocksource 20%.

PL 535, Blocks 7225/3 and 7226/1

This license is located on the Norvarg Dome in the central part of the Bjarmeland Platform in the Barents Sea, west of the Ververis discovery and northeast of the Arenaria discovery. Prior to application Rocksource acquired CSEM data in order to test the prospect. After processing of the data Rocksource has concluded that resistivity anomalies exist at depths corresponding with multiple targets, and the resistivity anomalies are likely to be caused by hydrocarbons.

The license group consists of Total E&P Norge AS (Operator): 40%, Aker Exploration AS: 20%, North Energy AS: 20% and Rocksource 20%.