logo-loader
viewZephyr Energy PLC

Rose Petroleum completes Utah seismic programme

"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

onshore drilling operation
The seismic data will help identify drill targets

Rose Petroleum PLC (LON:ROSE) has completed its seismic programme in the Paradox basin, Utah, and the company now expects initial results to be ready before the end of the year.

The seismic programme, which covered a 50 square mile area, is a precursor to exploration drilling with the data expected to be used to identify five initial drill targets.

WATCH: Rose Petroleum wraps up seismic programme at Paradox Basin

READ: Rose Petroleum - Capital Network: An Encouraging Update

"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.

"We look forward to receiving the initial results of the data processing shortly.

READ: Rose Petroleum advances 3D seismic in Paradox basin, expected to complete ahead of schedule

“Further processing and interpretation of the data will be carried out to then define the drill targets. These are now expected in early Q1 2018, which will be an exciting start to the New Year.

“We will then commence permitting of the initial five drill target locations as soon as possible thereafter.”

 -- Adds video link --

Quick facts: Zephyr Energy PLC

Price: 0.725 GBX

LSE:ZPHR
Market: LSE
Market Cap: £2.08 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Zephyr Energy PLC named herein, including the promotion by the Company of Zephyr Energy PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Market report: FTSE bounces back along with UK housing market

The FTSE 100 opened upbeat this Wednesday following a strong performance over on Wallstreet. A short time ago it was up 74 points to 5936. British house prices leapt to an all-time high in August, according to Nationwide who recognised a sharp rebound in the country’s housing market...

2 weeks, 3 days ago

2 min read