UPDATE ON THE WORK PROGRAM IN BLOCK CY-DWN-2001/1

Reference is made to the stock exchange notice published 31 October 2008.

Rocksource has been confronted with unofficial information, sourced from Indian websites, about the outcome of the first well in the work program on block CY-DWN-2001/1. To ensure that Rocksource is in compliance with the Oslo Stock Exchange regulations the company is releasing the following information:

As announced earlier the partnership in block CY-DWN-2001/1, consisting of ONGC (45%), Oil India (20%), Petrobras (25%) and Rocksource (10%, subject Indian Authority approval), has completed the first of three wells in the work program on the block. The well did not encounter moveable hydrocarbons. However, the well was drilled on a location that did not test the controlled source electromagnetic (CSEM) anomaly. This means that the initial CSEM prospectivity of the block remains intact, as announced in the stock exchange notice as of 31 October 2008.

Oslo, 3.11.2008
Rocksource ASA


Trygve Pedersen
CEO

+47 90 09 77 41