Rose Petroleum raises £1mln as it advances Paradox basin assets
New funds will bring Rose closer to drilling and closer to securing a more substantial project funding for the Paradox basin assets
Company
LON:ROSE
Rosebank Industries PLC is an investment vehicle set up by former senior managers of Melrose Industries with the intention of recreating its ‘buy, improve, sell’ business model. Rosebank's founders include two of the three original Melrose founders and four other leading members of its senior management team.
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New funds will bring Rose closer to drilling and closer to securing a more substantial project funding for the Paradox basin assets
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A look back at some of the more interesting from the junior market this week
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A glance at some of the day's highlights from the Proactive Investors newswire
A drill permit could be secured in the third quarter, and it expects to start drilling soon thereafter.
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A glance at some of the day's highlights from the Proactive Investors newswire
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A look at some of the biggest risers and fallers in London on Wednesday
"We are delighted that we've been able to acquire this new acreage, which we believe to be highly desirable,” said Matthew Idiens, Rose chief executive
The blue-chip benchmark closed up around three points at 7,034, with the big cap miners lagging
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It was another busy week for the oil and gas sector.
“We believe that if the discussions with prospective partners continue as they have commenced, we should be able to fund the well with minimal dilution to shareholders, if any”
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
“The company will use this exciting opportunity to meet potential investors with a view to acquiring partners and investors to fund future drilling activities"
Chief executive Matthew Idiens described the initial seismic results as “a watershed moment” for Rose
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A glance at some of the day's highlights from the Proactive Investors newswire
Some of the main news-driven risers and fallers in London on Monday...
Chief executive Matthew Idiens described the initial seismic results as “a watershed moment” for Rose.
The FTSE 100, dragged higher by the miners, got off to a strong start today, but closed juts about six points higher
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A glance at some of the day's highlights from the Proactive Investors newswire
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A look at some of the top risers and fallers in London today.
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Turns out it was a blue Christmas for the UK retail sector, with sales data showing a worse than expected December period.
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A glance at some of the day's highlights from the Proactive Investors newswire
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By the time it has confirmed press speculation, the bid approach was a dead duck
“First pass interpretation of the structures within the Cane Creek unit are very encouraging,” the company said in a statement.
FTSE 100 closed over 38 points higher on the day to 7,338; FTSE 250 shares added over 81
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London's junior oil firms reported progress with operations this week
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A glance at some of the day's highlights from the Proactive Investors newswire
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Some of the biggest risers and fallers in London on Friday.
Total consideration was US$1.5mln, of which US$1mln was in cash that has now been received
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The Teflon president faced another test of his lucky rabbit's foot's effectiveness
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A glance at some of the day's highlights from the Proactive Investors newswire
Rose agreed to let Magellan Gold Corporation start toll-milling operations at SDA as completion is now deemed ‘imminent’ as a commercial opportunity has arisen
Administrative delays have meant the process taking longer than expected
Well results, funding deals and the start of new campaigns were the source of much of this week's oil and gas highlights.
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A glance at some of the day's highlights from the Proactive Investors newswire
"I am delighted by progress that has been made in the field, we are well ahead of the schedule and I am encouraged by the feedback to date on the quality of data achieved,” said Matthew Idiens, Rose chief executive
The UK blue chip index closed its account on Tuesday up 2.09 at 7,526.
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A glance at some of the day's highlights from the Proactive Investors newswire
SSE may have rallied, but Centrica remained down in the dumps, after HSBC trimmed its price target for the British Gas owner to 190p from 202p.
“The seismic is key to unlocking the acreage, by not only identifying drill targets but also steering the horizontal leg of the wells,” Matthew Idiens said
The FTSE 100 rose to within a couple of points of 7,500 after US markets opened higher
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oil and gas, Rose Petroleum PLC, Angus Energy PLC, Hurricane Energy PLC, Tlou Energy, shares
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A glance at some of the day's highlights from the Proactive Investors newswire
"The board is delighted to have completed this transformational fundraise to fully finance the 3D seismic programme," said CEO Matthew Idiens
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A glance at some of the day's highlights from the Proactive Investors newswire
Rose Petroleum has extended the scope of its arrangements for the Paradox basin, where it will now explore lithium deposits as well as oil and gas targets
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A glance at some of the day's highlights from the Proactive Investors newswire
The focus is now on the group’s Paradox basin assets in Utah where a drill programme is planned for the second half of this year
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A glance at some of the day's highlights from the Proactive Investors newswire
Some of the main news-driven risers and fallers at 3.35pm...
“We look forward to receiving the balance of funds from Magellan for the disposal at completion, which is expected to dovetail nicely into the timing of the Paradox shoot," chief executive Matthew Idiens said.
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Some this week's oil and gas news highlights from the newswire
The AIM quoted natural resources group said it plans to sell the San Dieguito de Arriba mill to Magellan Gold Corporation for a total consideration of US$1.5mln
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
The explorer explained that the survey should allow it to predict areas of open natural fractures in the Paradox basin
The area being targeted by Rose is believed to have very significant potential – Paradox could contain as much as 1.1bn barrels of oil and 2.2tn cubic feet of gas.
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A glance at some of the day's highlights from the Proactive Investors newswire
Operations for the planned seismic programme are now anticipated to get underway from the start of September.
The FTSE 100 rose 63 points to 7,382 and the pound has slipped amid Brexit fears
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Also featured: APQ Global, Bezant, Bushveld, Cloudbuy, European Metals, Greka Drilling, Harvest Minerals, Real Good Food, Rose Petroleum, Xtract Resources
A look at some of the biggest risers and fallers in London today
“We are pleased with the progress being made on the disposal of the SDA Mill," said chief executive Matthew Idiens.
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Some of the day's headlines on the Proactive Investors newswire
A glance at some of the bigger risers and fallers today in London ...
"We are working closely with Magellan towards a successful completion of this transaction," said Matthew Idiens, Rose chief executive
With an hour and a quarter of trading to go, the UK benchmark index was ahead 58 points at 7,430, just easing back from the afternoon peak of 7,438.90
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Some of today's headlines on the Proactive newswire
Rose Petroleum is now awaiting the issue of the final permit to begin a seismic survey on the Paradox Basin
The Myanmar-language social media, entertainment and payments platform operator is breaking even at the current run-rate
“The acceptance of the revised EA by the BLM and the commencement of the public consultation period is a key milestone for the company"
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Some of the market moving oil and gas stories that appeared on Proactive this week
The block covers more 5,000 sq km of undrilled deep water acreage
Rose, which is exploring oil and gas acreage in Utah, together with gold and silver targets in Mexico, and possible gypsum production in Cuba, reported a net loss after tax of US$0.2mln, or 0.01 cents per share for the year ended 31 Decembe
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A summary of some of the small cap stories on the Proactive newswire
Some of the main risers and fallers in London at 3.45pm...
The $100,000 is non-refundable, but will be deducted from the final purchase price should Magellan opt to buy the operations
After a gloomy morning for the pound, it started to build some momentum. FTSE 100 finished at 7,543
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A snapshot of the small cap news today on the Proactive newswire
Shares in InnovaDerma and Porta Communications have advanced while shares in Audioboom and Nyota Minerals have fallen
“We continue to have significant success on the recovery of amounts owed to the company by SAT."
The FTSE 100 closed 15.52 down at 7,234 with Sainsbury's and mining shares under pressure
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A summary of small cap news stories on the Proactive wires today
Photonstar LED, Baron Oil and Capital Drilling are in positive territory while shares in Premier Veterinary Group, Ortac Resources and PureCircle are under the cosh
Documents have been resubmitted to the Bureau of Land Management after questions were raised during public consultation.
The FTSE 100 closed up 46 at 7,250 on the day with Intertek the biggest gainer
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A look back at the week’s highlighted news for junior oilers
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A glance at some of the stories on the Proactive newswire today
Rose is working on reclaiming the remaining US$550,000 or so owed to it by the Mexican taxman
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A look back at the week’s highlighted news for junior oilers
Some of the largest rises and fallers at 3pm: Frontera, Franchise Brands, Starcom
A new licence extension from state authorities come as Rose advances a seismic exploration programme in Utah.
Main share price risers and fallers in London at 4pm: Metal Tiger, Ilika
It announced on Friday it has received the first tranche, US$72,100, and expects to bank US$210,000 by the end of the month.
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FTSE 100 stocks closed at a record high on Friday for a second successive session, after making a fresh intraday peak, and a good way for equity investors to end the week
Rose expects that the permit will be awarded by the end of May, allowing the programme to take place in the second half of the year.