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Rose Petroleum CEO still upbeat despite missing out on conventional ‘bonus’

The chief executive of Rose Petroleum (LON:ROSE) Matt Idiens insists there is still plenty to play for despite the ‘disappointing news’ that the conventional target at its Utah acreage was not deemed commercially viable.

Idiens told Proactive Investors: ‘It certainly doesn’t take anything away from the potential upside in the Mancos which is where the primary focus and all our resources lie.’

He highlights the difference in size between the conventional and unconventional (shale) targets and says the result does not change its plans for the shale in any way.

Quick facts: Rose Petroleum PLC

Price: 1.05 GBX

Market: AIM
Market Cap: £3.01 m

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Full interview: Rose Petroleum sets sights on DJ Basin as it takes stake in...

Rose Petroleum PLC's (LON:ROSE) Colin Harrington tells Proactive London's Andrew Scott they've signed a Letter of Intent to acquire a 9% interest in shale assets in the prolific DJ Basin in Colorado. There is also an option to increase the working interest to around 80%. A 12-well...

on 4/11/19

2 min read