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Rose Petroleum Plc: Positive results from CPR

Rose Petroleum (LON:ROSE) announced on June 22nd the result of the competent person's report ("CPR") by Gaffney Cline & Associates ("GCA") relating to Rose Petroleum’s acreage in the Paradox Basin, Utah. The CPR analyses the results of a 3D seismic acquisition completed in late 2017. The report provides a classification of Rose’s contingent resources, outlined in the table below. A useful summary of definitions is contained in the following web link. Details are also in the Rose Petroleum press release of June 22nd.

Executive summary

We believe that in order to achieve the well completion in the fourth quarter (Q4) of 2018, we would expect to see drill permits and a financing partner both announced during Q3. Once these milestones are in place, we believe that the share price could begin to more fully reflect the value of the Paradox Basin holding.

Quick facts: Rose Petroleum PLC

Price: 0.465 GBX

AIM:ROSE
Market: AIM
Market Cap: £1.34 m
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What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points

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