RockRose Energy : Development drilling campaign

RNS Number : 4353W RockRose Energy plc 11 December 2019

FOR IMMEDIATE RELEASE

11 December, 2019

ROCKROSE ENERGY PLC

("RockRose")

Development drilling campaign

Rockrose Energy plc (LSE: RRE) (the "Company"), the independent oil and gas company, is pleased to announce the Noble Houston Colbert jack-up drilling rig is preparing to drill the first of two planned infill development wells on West Brae. RockRose is the operator of West Brae, in which it has a 40% working interest.

Designated WPGZ and WPOZ, these wells are designed to access 2P reserves of over 8 MMbbl (gross) and to support Brae Complex output by up to 6,000 bopd (gross). WPGZ is expected to come onstream before the end of the first quarter of 2020 while first oil from WPOZ is anticipated in the second quarter of 2020.

The drilling of WPGZ marks the start of a significant period of development ac vity for RockRose, with the Company set to par cipate in at least seven wells before the end of 2020. These will help drive produc on growth over the next two years and further investment in growth projects is anticipated in 2021 and 2022.

• four well drilling campaign is scheduled to commence at the Shell-operated Arran gas/condensate field development in the first quarter of 2020. RockRose has a 30.4% working interest in Arran, which remains on schedule for first gas in early 2021. In addi on, the first of two infill wells planned as part of the Blake life extension project will be drilled in the second half of 2020. RockRose has a 30.8% working interest in Blake.

RockRose plans to issue a further operational update in January.

Commenting, Andrew Austin, Rockrose, Executive Chairman, said:

"The spudding of WPGZ will represent just the start of a sustained period of drilling ac vity for RockRose. This will add significant produc on and value to the Company, as we con nue to deliver on our strategy; growing produc on and generating surplus cashflow that can be reinvested to maximise returns for shareholders".

-ENDS-

Enquiries:

Rockrose Energy plc

[phone]

Broker:

Hannam & Partners (Advisory) LLP

Giles Fitzpatrick / Andrew Chubb

[phone]

Joint Brokers:

Whitman Howard

Hugh Rich / Nick Lovering

[phone] / 1224

Cantor Fitzgerald
David Porter	[phone]

Financial PR:

Celicourt

Mark Antelme / Philip Dennis / Ollie Mills

[phone]

For further information, please visit the Company's website at www.rockroseenergy.com

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