RNS4 Nov 2019 18:59
so, Rose Petroleum is the Rocky Mountain-focused oil and gas company now...)))))
our Chairman Rick Grant and CEO Colin J. Harrington are the founders of Origin Creek Energy LLC which is already long term partner with Captiva Energy Holdings II, LLC and our CEO and Chairman are also the directors of Captiva Energy Holdings II, LLC ...... )))))
so, the question is why to bother with bringing Rose to the Project if our Leaders ( read - Origin Creek Energy LLC) are already in it ?
AND based on the proposed Initial Drilling Programme, Rose's CAPEX on its initial acquisition of 10% of Captiva Energy Holdings II working interest is currently forecast to be $1.6 million, will result in Rose having an approximate 2.217% working interest in the Initial Drilling Programme! !!
so... we raise £1.25m which is more than 50% of our Mcap just to get 2.217% working interest in the Initial Drilling Programme ?
it's fascinating, isn't it ?
and if u could read rns carefully then u would notice that this is only the beginning of possible further fundraising .
must be that's why Origin Creek Energy LLC needed a Publicly Listed Company in the first place. just my opinion.