RNS - update12 Feb 2019 07:05
· The production life of the Ross & Blake fields (30.82% interest) is being extended from 2024 to at least 2029, giving an incremental net 2P reserves of more than 4.2MMboe.
· As at 1st January 2019, 2P reserves in aggregate for the UK and NL assets are 35.9MMboe (audited by ERCE). This is an increase of 9.4MMboe from previous updates, implying a 2P reserves replacement ratio of 235% (given 2018 pro-forma production of 4.0MMboe) as Contingent Resources are moved into Reserves on sanction.
· The Group currently holds an estimated 15.0MMboe of 2C resources, giving RockRose a total 2P reserves plus 2C resources of at least 50.9MMboe.
· The Arran development is progressing to schedule with first gas planned for Q1 2021, providing net 2P reserves of 8.6MMboe.
· The development of the Tain field (50.0% interest) is progressing with the Field Development Plan (FDP) due to be delivered by end of 2019, with the intention of Final Investment Decision (FID) soon afterwards, giving an incremental net 2C reserves of 6.1MMboe.
· Maintenance has been completed on the Dana operated F02a Hanze oil field (20.0% interest), with the Electric Submersible Pumps replaced on the A02 and A04 wells bringing the Hanze oil field back to full production, increasing RockRose expected net 2019 production by 150-200 boepd to approximately 450-500 net boepd.
· RockRose is participating in an appraisal drilling program in the Dutch North Sea. The Maersk Resolute rig has returned to the A/B area and is preparing to commence drilling of the Petrogas operated B10 (14.63% interest, 0.8MMboe net) and A15 (28.23% interest 2.0MMboe net) appraisal wells.
· The Petrogas operated Halfweg platform (1.14% interest), Netherlands continental shelf, was successfully and safely removed, within budget and in accordance to Dutch regulations.
-- BB --
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