REG - Red Rock Resources - Infrastructure and production at Shoats Creek <Origin Href="QuoteRef">RRR.L</Origin>

Red Rock ResourcesAnnouncement

02/02/2016 07:11

RNS Number : 7177N
Red Rock Resources plc
02 February 2016
Red Rock Resources Plc
Completion of Infrastructure and Start of Production at Shoats Creek
2 February 2016
Red Rock Resources Plc ("Red Rock" or the "Company"), the natural resource investment and development company, has been informed as follows by the operator (Northcote Energy Limited) of the completion of infrastructure upgrades at the Shoats Creek Field in Louisiana and the start of production operations at the LM20 well in which Red Rock has a 20% working interest.
Further to the announcements of 20 January 2016 and 27 November 2015, infrastructure work now completed at Shoats Creek includes:
 Installation of 5,400 barrel oil and water storage tanks with room for incremental additions as production grows in the course of drilling additional wells
 Installation of high and low pressure separators, heating, flare stacks and other necessary production equipment 
 Installation of associated pump and pipeline work 
At the LM#20 well, production operations are now commencing and the production rate will be reported in due course after rates have stabilised.
Red Rock Chairman Andrew Bell states: "The news from the operator that production is now beginning represents a milestone for Red Rock as we can now become for the first time an oil producer, and from a low cost onshore well. We look forward now to the drilling of LM21 and LM22 to increase production from the field. This achievement brings what we hope will be a growing revenue stream to Red Rock as a more diversified natural resource Company." 
Red Rock has a 20% Working Interest and a 14.4% Net Revenue Interest in the LM20 well and in the planned LM21 and LM22 wells.
For Further Information Contact: 
Andrew Bell0207 747 9990  ChairmanRed Rock Resources Plc
Scott Kaintz 0207 747 9990  Executive Director Red Rock Resources Plc
Roland Cornish/Rosalind Hill Abrahams0207 628 3396 NOMADBeaumont Cornish Limited
Jason Robertson0129 351 7744 BrokerDowgate Capital Stockbrokers Ltd.
Christian Pickel0203 128 8208Media RelationsMHP Communications

This information is provided by RNS
The company news service from the London Stock Exchange
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