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Rocksource ASA announced that the company has entered into a farmin agreement for a 15% stake in a production license in the Norwegian Sea.
The license partnership is expected to take a drill or drop decision later this fall. If a positive drill decision is reached, an exploration well could be drilled in 2013.
The license includes low to medium risked prospectivity, mapped by Rocksource as oil prospects. A potential discovery could be tied back to existing, nearby infrastructure.
More details on the specific license and prospect details will be announced in due course.
A final agreement is pending government approval.