logo-loader

Rose Petroleum confident sale of Mexico mill will complete in next few weeks

Published: 03:07 01 Nov 2017 AEDT

map of Mexico
Sale should complete in the next few weeks

Rose Petroleum PLC (LON:ROSE) expects to complete the sale of its mill at San Dieguito de Arriba, in Mexico in the next few weeks.

Originally, the oil and gas company had hoped to have the disposal done and dusted by the end of October but administrative delays have meant the process taking longer than expected.

Rose, though, is confident that sale to Magellan Gold Corporation will go through after completion of the final administrative procedures 

“The company is working with Magellan to ensure that completion of the disposal can take place as quickly as possible,” it said its statement.

Rose is now focused on its shale oil and gas prospect in the Paradox Basin, Utah, where it has just completed a 3D seismic programme.

Rose Petroleum announces CPR results for Paradox basin in Utah

Matthew Idiens, chief executive officer of Rose Petroleum PLC (LON:ROSE) tells Proactive that the company has presented a new competent person's report (CPR) assessing its Paradox basin in Utah, United States. “We’ve put a lot of effort into the geological assessment and these were...

on 22/6/18