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Rose Petroleum chief Idiens eyes Utah development after huge reserves boost

Matthew Idiens, the chief executive of Rose Petroleum (LON:ROSE), says the huge reserves upgrade opens up plenty of funding options for the AIM-listed US shale group.

Once funding is tied up, the plan is to become a producing oil and gas company within a year.

Idiens talks about the small fees needed to realise the value of the Paradox and Mancos projects in Utah, as well as explaining how a small UK-quoted company got such a good deal in the US.

Quick facts: Rose Petroleum PLC

Price: 0.55 GBX

AIM:ROSE
Market: AIM
Market Cap: £1.58 m
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Sweet-smelling milestones for Rose Petroleum

Rose Petroleum PLC (LON:ROSE) this week released milestone investor updates as it continues to work on the composition of its asset portfolio in the United States. Investor turned CEO Colin Harrington tells Proactive London which changes he has made to get Rose to this sweet spot, including...

on 11/2/20

2 min read