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Rose Petroleum - Update on 3D seismic data interpretation

Rose Petroleum (LON:ROSE) announced the completion of the initial structural interpretation of the 3D seismic data it acquired over its Gunnison Valley Unit (GVU) which is part of its larger lease holding in the Paradox Basin, Utah, U.S.A. As a result of this work, key geological structures and multiple drilling targets have been identified, with to date 53 well locations identified in the Cane Creek reservoir zone alone.

Executive summary

All options are envisaged, including joint venture and farm-in arrangements, to ensure that any dilution to existing shareholders is kept to an absolute minimum, while still realising the full value of the project.

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Sweet-smelling milestones for Rose Petroleum

Rose Petroleum PLC (LON:ROSE) this week released milestone investor updates as it continues to work on the composition of its asset portfolio in the United States. Investor turned CEO Colin Harrington tells Proactive London which changes he has made to get Rose to this sweet spot, including...

on 11/2/20

2 min read