Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Rose Petroleum Plc: Positive results from CPR

Rose Petroleum (LON:ROSE) announced on June 22nd the result of the competent person's report ("CPR") by Gaffney Cline & Associates ("GCA") relating to Rose Petroleum’s acreage in the Paradox Basin, Utah. The CPR analyses the results of a 3D seismic acquisition completed in late 2017. The report provides a classification of Rose’s contingent resources, outlined in the table below. A useful summary of definitions is contained in the following web link. Details are also in the Rose Petroleum press release of June 22nd.
Rose Petroleum Plc: Positive results from CPR

We believe that in order to achieve the well completion in the fourth quarter (Q4) of 2018, we would expect to see drill permits and a financing partner both announced during Q3. Once these milestones are in place, we believe that the share price could begin to more fully reflect the value of the Paradox Basin holding.

Full report is available via Capital Network website
View full ROSE profile View Profile

Rose Petroleum PLC Timeline

Related Researches

no_picture_pai.jpg
March 05 2018

G3 Exploration (LON:G3E), previously Green Dragon Gas, published an operational update for its Baotian-Qingshan (GGZ) Block, located in the Guizhou Province of Southern China.

no_picture_pai.jpg
December 13 2017

Green Dragon Gas Ltd (LON:GDG) announced its plans to list its production subsidiary on the Hong Kong Stock Exchange as a dividend in specie. This operation requires shareholders’ approval and a vote will take place at the AGM to be held on 20/12/17 at 11:00 am. We expect the details of the listing, in particular the shareholding structure of the listed entity as well as the amount of capital increase, to be released on this occasion. However, the intention is for the company to be debt free as a result which we take as a positive; we keep our 221p valuation unchanged.

no_picture_pai.jpg
February 07 2018

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.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use