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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.

Quick facts: Rose Petroleum PLC

Price: 1.075 GBX

AIM:ROSE
Market: AIM
Market Cap: £2.17 m
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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

2 min read