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Third party review on Trident endorses Rocksource’s estimates of contingent resources

  • Gaffney, Cline & Associates (GCA) endorses Rocksource’s estimates of Contingent Resources in Trident discovery

    • -

      Best estimate (‘2C’) Contingent Resources (Development Pending sub-class) of

      • 76 mmbbl oil and 79 Bscf associated gas (together 90 mmboe) gross

      • 58 mmbbl oil and 61 Bscf associated gas (69 mmboe) net to Rocksource (after royalties)

    • -

      Rocksource to actively assess commercial solutions

  • Further Trident studies have been initiated

    • -

      Development via subsea tieback to the Perdido hub remains an option

    • -

      However, with volume estimates by GCA, Rocksource’s view is that stand-alone development also

has potential to be economically attractive

    • -

      If this is confirmed, the commercial value of Trident will be significantly enhanced

  • Studies ongoing to evaluate economics

    • -

      The goal is that these studies will provide the basis for further maturing the Trident Field including

a potential farm-down to a development operator in 2011

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