Rooster Energy Ltd.
TSX VENTURE : COQ

June 25, 2012 08:59 ET

Rooster Energy, Ltd., Announces Completion of Its Vermilion 376 Field Exploration and Development Program and the Pending Award of Two New Gulf of Mexico Leases

CALGARY, ALBERTA--(Marketwire - June 25, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Rooster Energy, Ltd. ("Rooster") (TSX VENTURE:COQ) -Rooster announced today that it has resumed oil and gas production from its Vermilion Block 376, Offshore Louisiana, following the successful drilling and completion of three new wells.,. Rooster commenced the drilling program in late February after shutting down production at the field from two wells. Prior to the shut-in, the field was producing approximately 400 barrels of oil per day with minimal gas production. The field has been brought back on production at a gross rate of 1,050 barrels of oil and 6.1 million cubic feet of gas. Rooster's net production from the field is approximately 750 barrels of oil and 3.1 million cubic feet of gas. The drilling program consisted of three wells with two wells categorized as exploratory and the third as a development. With the re-commencement of production at Vermilion 376, the company's net daily production is currently 1,000 barrels of oil and 12 million cubic feet of gas per day.

Rooster participated in last weeks Central Gulf of Mexico Lease Sale held in New Orleans Louisiana on June 20, 2012. The company submitted two bids and is the apparent high bidder on both. The company's net exposure, if both blocks are awarded, will be approximately $478,000.00

United States Securities Matters

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of Rooster have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rooster Energy Ltd.
    Robert Murphy
    Chief Executive Officer
    (832) 772-6313

    Rooster Energy Ltd.
    16285 Park Ten Place, Suite 100
    Houston, Texas USA 77084