Rocksource ASA("Rocksource" or "Company") recorded an operating income of NOK 28.4 millionfor the fourth quarter of 2013, an increase from the NOK 3.6 millionreported for the corresponding quarter of 2012. Total operating income for the financial year 2013 was NOK 59.3 millioncompared with NOK 55.6 millionfor 2012.
The net loss for the fourth quarter was
With two exploration wells currently drilling and one additional well expected later in 2014,
Rocksourceshareholders are exposed to significant exploration leverage in the coming months. The Company's focus is now towards enhancing its exploration portfolio and firming up drilling opportunities for 2015 onwards. The aim is to achieve this through a combination of portfolio maturation, applications in future licensing rounds, and selective farm-ins/swaps. Within its own portfolio, Rocksourcehas to make seven drill-or-drop decisions during first half 2014. The recent successful awards in the APA 2013 Licensing Round once again demonstrated Rocksource'sability to compete successfully in the licensing rounds in Norway. Organic growth through licensing rounds will remain a core strategy for Rocksourceon the NCS.
The interim report and Company presentation for Q4 2013 is attached to this announcement.
Oslo, 12.2.2014 Rocksource ASAPer Anders Muri VP Commercial and Communication
+47 91 11 61 21
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