Rocksource ASA ("Rocksource" or the "Company") today 
announced that the Company has strengthened its 
financial flexibility in preparations for its 
scheduled drilling campaign, expected to commence in 
2010. Rocksource has completed a bank loan facility 
of NOK 500 million with SEB Merchant Banking ("SEB") 
related to exploration on the Norwegian Continental 
Shelf (NCS). Also, the Company has signed an 
agreement with YA Global Master SPV, Ltd. an 
investment fund managed by Yorkville Advisors 
("Yorkville") for a NOK 150 million Equity Line of 
Credit Facility.

The NOK 500 million NCS credit facility with SEB will 
replace the existing facility of NOK 250 million. The 
three-year facility will finance the increased 
activities in the Company's significant Norwegian 
exploration portfolio and will also support the 
overall corporate financing. Under the Norwegian tax 
regime exploration costs are refunded with 78 per 
cent of exploration and appraisal related expenditure 
in December the following year. The credit facility 
will bridge finance the NCS exploration refund. 

The NOK 150 million Equity Line of Credit Facility 
with Yorkville provides Rocksource with improved 
financial flexibility going into a phase with a high 
activity level. The facility secures access to new 
equity, if needed. Under the terms of the Equity Line 
of Credit Facility, Rocksource has the right but no 
obligation to draw down funds in tranches in exchange 
for issuing new shares to Yorkville over the next 
four years. Should the Company decide to utilise this 
facility, the new shares will be issued at a price 
equal to a six per cent discount compared to the 
volume weighted average share price at the time of 
the draw down. The maximum size of each tranche is 
limited to NOK 12 million, but could be further 
restricted by low liquidity in the Rocksource share.

Tommy Sundt, CFO of Rocksource commented: "We are 
pleased to have concluded on these facilities well in 
advance of our drilling programme. The combined 
facilities give us access to more than USD 100 
million, improve our financial flexibility and enable 
Rocksource to further pursue an ambitious exploration 
driven growth strategy over the next couple of years. 
We are grateful for the trust and support from our 
new financial partners SEB and Yorkville."

Preparations are ongoing ahead of the Company's 
extensive drilling campaign, expected to embark in 
2010. Rocksource expects to participate in between 8-
10 wells over the next two years. The Company 
currently has an exploration portfolio of 
approximately 1 billion barrels of oil equivalents 
(boe) in net risked resources. The upcoming drilling 
campaign is aiming to test approximately 200 million 
boe in net risked resources each year.


Oslo, 11.2.2010 
Rocksource ASA 


Trygve Pedersen 
CEO 

+47 90 09 77 41