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Rose Petroleum boosted by Schlumberger study at Paradox

Rose Petroleum PLC (LON:ROSE) has highlighted the findings of a Schlumberger study of the Gunnison Valley Unit (GVU) project area in Utah’s Paradox basin. Rose CEO Matt Idiens tells Proactive London what this means for the company and offers a timeline for production as well as detailing news on the significant interests in the mulit-stacked play at Paradox, which has done so well in this latest study.
The fracture characterisation analysis of the proposed GVU22-1 well location concluded that it would be situated optimally leading to the commissioning of rigs and spudding and eventually production in Q1/Q2 2019. Idiens says a further five plays could potentially be commercial looking at the 3D date alone.

Quick facts: Rose Petroleum PLC

Price: 1.05 GBX

AIM:ROSE
Market: AIM
Market Cap: £3 m
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