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Rose Petroleum PLC

Market:
AIM
Market Cap:
£2.94 m
Price
1.03 GBX
Change
-2.38%
52 weeks high
2.48
52 weeks low
0.93

Rose Petroleum plc is a North America-focused oil and gas company whose primary asset is approximately 80,000 net acres in the prolific oil and gas producing Paradox Basin in Utah, U.S.A., where it is earning into a 75% working interest. Using high-quality data gathered in a 3D seismic survey completed in October 2017, the company has identified 60 drilling locations, with the intention of commencing a drilling programme as soon as possible, subject to rig availability, funding, lease stipulations and Federal Unit regulations. The Application for Permit to Drill the Group’s first proposed well was granted in Q3 2018 and for a second well in Q1 2019.

The company’s established management is supported by an expert technical team with extensive experience of the basin, where current operations nearby have proven successful, with significant initial production rates and low decline rates, offering strong economics in the present oil price environment.

The company’s strategy is to grow both organically and through acquisition, identifying additional hydrocarbon assets, conventional or unconventional, that would benefit from the company’s fast-acting, entrepreneurial approach.

Rose’s management is committed to working diligently on behalf of shareholders and acting within strict corporate governance guidelines to pursue this strategy.

OUR PORTFOLIO
The Company is focused on building shareholder value through advancing its primary oil & gas asset.

OIL & GAS
Rose Petroleum’s primary asset. Earning-in a 75% working interest (WI) into more than 80,000 net acres oil and gas asset located in the Paradox Basin in Utah, USA. 
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OTHER OPPORTUNITIES
Rose Petroleum has interests in base and precious metals and uranium projects located the USA.
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UK & US.

A proven team of experts that has successfully navigated the political and environmental landscapes in a diverse collection of regions.

Rick Grant
NON-EXECUTIVE CHAIRMAN

Rick has a 40-year track record of success in the oil and gas industry. Rick is co-founder and Chairman of Origin Creek Energy LLC (“OCE”). OCE makes $2-$20 million foundational investments in the domestic US energy sector.  The firm’s capital is provided by its partners and two affiliated family offices.

Prior to OCE, Rick was CEO of Suez North America LNG and then served as CEO of Suez Global LNG (“Suez LNG”). During his tenure, Suez LNG grew from an initial US$680 million acquisition of Cabot LNG (where Rick previously served as President), into the world’s third largest liquefied natural gas business, one active across the entire global natural gas chain from upstream production through to distribution to end-users. Before his time at Cabot, Rick was President of Mountaineer Gas, the largest natural gas distribution company in West Virginia (which also held a sizable upstream portfolio). During his career, Rick has had significant success managing multi-billion dollar organisations and developments, and has been involved in a number of profitable corporate exits.

 

Colin Harrington
CHIEF EXECUTIVE OFFICER

Colin Harrington is CEO of OCE. OCE makes $2-$20 million foundational investments in the domestic US energy sector. The firm’s capital is provided by its partners and two affiliated family offices. As CEO of OCE, Colin spearheaded the firm’s efforts to originate and build value from existing upstream investments in the Rockies and Marcellus regions.

Colin began his career in energy finance in 1998, and previously worked in New York, London, Washington DC and San Francisco. In addition to his banking and investment management experience, he founded several companies focused on both the traditional and alternative energy sectors.

Prior to founding OCE, Colin was Managing Partner of the Wellford Energy Group and former CEO of Wellford Capital Markets, a FINRA-registered broker dealer. Prior to Wellford, Mr. Harrington was Senior Vice President of Energy Investment Banking at FBR Group in San Francisco.

Colin holds an MBA from the Wharton School and was a Hansard Scholar at the London School of Economics.

 

Gordon Stein
NON-EXECUTIVE DIRECTOR

Gordon Stein is a member of the Chartered Institute of Public Finance & Accountancy and is currently the CFO and an Executive Director of Columbus Energy Resources plc, an AIM-traded oil & gas company with operations in Trinidad.

Mr Stein was previously CFO of AIM-traded Madagascar Oil Limited from June 2013 to October 2016 and has also been CFO of Cadogan Petroleum plc which is an independent oil and gas exploration, development and production company with onshore gas and condensate assets in Ukraine. Preceding this, was CFO at Vanguard Energy Limited and Regal Petroleum plc. He has also held senior financial and operational management positions in Fairfield Energy Limited, Acorn Oil and Gas Limited, LASMO PLC, Monument Oil & Gas plc, Centrica plc and BG pc. Mr Stein has over 26 years’ experience in the upstream oil and gas sector in the UK and internationally, including Ukraine, Trinidad, Tunisia, Venezuela, Madagascar, Algeria and Turkmenistan.

 

Tom Reynolds
NON-EXECUTIVE DIRECTOR

Tom is a chartered Chemical Engineer with 25 years’ experience in the energy sector spanning executive management of private and public E&P companies, private equity investment and advising early stage companies.

Tom led two public E&P companies between 2008-2016 – Bridge Energy ASA and Iona Energy Inc. – providing him with a broad range of North Sea experience including cross border mergers, IPOs, acquisitions & disposals, the Nordic bond market, debt restructuring and investor relations in London, Oslo and Toronto. Previously, Tom joined the oil and gas investment team of 3i in 2003 where he led the origination and assessment of E&P opportunities in the North Sea and internationally.

 

Chris Eadie
CFO, DIRECTOR

Chartered Accountant with over 17 years’ post qualification experience

Held a number of senior finance positions with Cable and Wireless plc

Extensive experience of fundraising and cash management with AIM listed natural resources company

Significant AIM Finance Director experience