Member Info for GT6546

The fact that Tom Reynolds worked as a CONSULTANT to Rose Petroleum prior to joining the board is notable.

Was just reading an RNS from 11 April a moment ago.

Given Rose Petroleum's reported uranium resources and uranium exploration database, and yesterday's Holdings RNS mentioning Jon Fitzpatrick and a 5% holding in Rose Petroleum (and Jon Fitzpatrick's directorships with both Solo Oil and Gneiss Energy) the following extract from the RNS caught my attention:

[I've capitalised the notable bits for emphasis.]

"Mr Reynolds has been working with the Company for the past six months on a consultancy basis and has a detailed knowledge of the Group's operations. He is a Chartered Engineer with over 25 years' experience in the energy sector, including a range of technical and commercial roles with BP plc, Total SA and BRITISH NUCLEAR FUELS PLC. He has also held management positions at private equity investment and advisory firms, including 3i plc, and specialises in strategic planning, investment management and cross-border M&A transaction execution in the oil, gas, energy and infrastructure sectors.

Mr Reynolds has held board seats on various companies listed in London, Oslo and Toronto. He is a non-executive director of AIM listed SOLO OIL PLC. He was previously CEO of Iona Energy Inc. and, immediately prior to that, he was CEO of Bridge Energy ASA, which Mr Reynolds grew through a series of acquisitions before listing the group in both Oslo and London, prior to its c.US$150m sale to HitechVision-backed Spike Exploration Holding AS in 2013."

Visiting a Company's website to find out more about them, and visiting their page on the Lon. St. Exch. website - where there is a wide range of information - I find is always a prerequisite. To check facts etc.

In my experience I personally find it is the utmost importance to also try and calculate and weigh up whether the market capitalisation (share price multiplied by shares in issue) represents good value, compared to core facts about the Company.

I think Rose Petroleum themselves have a lot to say about the Company and can do so more eloquently than me, about the potential upsides and resources of the Company.

If you read their RNS announcement from 28 June '19, key directors said:

Colin Harrington, Executive Chairman of Rose Petroleum plc, said "From the moment Matthew Idiens and I began discussing the next stage of growth for Rose, we both agreed that the Board should only be augmented with individuals who have blue chip professional histories, strong industry networks and proven management skills. Rick brings all the above, with deep sector knowledge, decades of organisational expertise and an enviable track record. We are thrilled to have him join Rose as we position the company for further growth in the domestic U.S."

Rick Grant, Non-executive Director designate of Rose Petroleum plc, said "I believe Rose has excellent prospects for growth, from both the existing portfolio and from attractive acquisition and development opportunities that arise in the highly-fragmented small cap sector of the onshore US E&P market. I look forward to helping transform the Company for the benefit of all shareholders."

Proactive Investors: 'Rose Petroleum leaps as energy investor Jon Fitzpatrick picks up 5% stake in the company'

335pm "Rose Petroleum PLC (LON:ROSE) shares leapt 18.3% higher to 1.77p in late afternoon trading following notification that serial AIM energy investor/executive Jon Fitzpatrick has picked up a 5% stake in the company.

Fitzpatrick is the founder and managing director of energy consultancy Gneiss Energy and was previously senior managing director and head of natural resources for Europe, Middle East and Africa at Macquarie Capital. He is also a non-executive director of Solo Oil PLC (LON:SOLO)."

https://www.proactiveinvestors.co.uk/companies/market_reports/223668/rose-petroleum-leaps-as-energy-investor-jon-fitzpatrick-picks-up-5-stake-in-the-company-223668.html

I think Gneiss Energy may also have became advisers or suchlike to MX Oil, in recent years before they turned into ADM Energy. They too are going through a period of significant change and change of direction.

It will be closely followed if Gneiss Energy do become formally involved with Rose Petroleum.

Gneiss do seem to have a track record of being involved in companies on a journey of 'transformation'.

I like what I see at Rose Petroleum. And follow events at Solo Oil too.

Resource security (e.g. rare earths, oil) a higher agenda item in US recently.

Bringing new oil supplies on stream domestically within US borders may potentially get higher priority and a fresh focus if supply fears heighten in middle east, vis-a-vis Iran tensions, oil sanctions, attacks on tankers and even military action in the region.

Rose Petroleum seems ripe for a re-rate.

"Rose Petroleum [also] has a portfolio of non-core assets, which it continuously reviews with a view to creating the most value for shareholders; at present, it has interests in base and precious metals and uranium projects located in the USA including 100% of the North Wash project in Utah which contains a resource of uranium and vanadium which is being held on care and maintenance while discussions take place on possible disposal of the project.

Also the company has an agreement with enCore Energy Corporation for it to use Rose’s US uranium exploration project database to develop prospects in Arizona."
https://rosepetroleum.com/our-portfolio/other-opportunities/

From Rose Petroleum website:

"A Competent Person’s Report by Gaffney Cline & Associates, published in June 2018, determined gross contingent resources (2C) of 15.61 million barrels of oil and 31.23 billion cubic feet of gas with a NPV net to Rose of US$122.4 million. That report focused solely on the area covered by a 3D seismic survey, completed in October 2017, of approximately 17,250 acres and focused solely on the single Cane Creek reservoir (Clastic 21)

The report shows an upgrade from Prospective to Contingent Resources for Clastic 21 within the specified area. This is due to the ability to tie the 3D seismic data into the producing well 28-11 and map the maximum extent of the producing field within this area. The initial appraisal wells are designed to test the viability of the fracture network and to potentially prove the extent and commerciality of the field
Further details of the CPR report are available on this website in the Investors Area, under Latest Press Releases

Previously, in 2014, the independent consultant Ryder Scott reported net un-risked prospective recoverable resources of over 1.1 billion barrels of oil and up to 2.2 TCF cubic feet of gas within the Paradox Formation"

https://rosepetroleum.com/our-portfolio/oil-gas/

Some new updates from HH ADM's site:

June 25th, 2019
Dubai, United Arab Emirates
His Highness Sheikh Ahmed Dalmook Al Maktoum met Mr. Andrew Forrest, Chairman of Fortescue Mining company from Australia, to discuss various Mining and Exploration Projects currently under development stages in Africa.

***

June 25th, 2019
Dubai, United Arab Emirates
Meeting between His Highness Sheikh Ahmed Dalmook Al Maktoum and Honourable Professor Dr. Koutoub Moustapha Sano, Minister in the President Office and Diplomatic Advisor to the President of the Republic of Guinea, to explore the mining potential in Guinea Republic and finalize the next steps to explore the mineral potential in the country.

***

June 25th, 2019
Dubai, United Arab Emirates
Meeting between His Highness Sheikh Ahmed Dalmook Al Maktoum, Honourable Trokon T. Kpui, Minister of State of the Republic of Liberia and Honourable Emmanuelo Sherman, Deputy Minister of Mines of Liberia, to explore the potential of Putu Iron Ore Mine in Liberia, develop port and integrated infrastructure for the same.

***

July 1st, 2019
Dubai, United Arab Emirates
The Memorandum of Understanding was signed between His Highness Sheikh Ahmed Dalmook Al Maktoum and Honourable Moses Y. Kollie, Minister of Labour, Government of Liberia.

Good to see a 'prudent' investment company increasing holdings :-)

Dunno. But obviously a number of news items to look ahead to, and think about.

The recent RNS's says there is an upcoming AGM planned; plus a General Meeting about the option Agreement to sell the Capricorn Sapphire Project [to Fura Gems Inc.] and extend and conditionally settle a Secured Convertible Loan Facility.

Am pleased to see that Peterhouse "have agreed that their initial six month retainer fee will be settled by the issue to them of a further 15,873,016 new Common Shares at the Placing Price" as that will help reduce Richland's outgoings and help better preserve their cash resources.

Today's 'Holdings ' RNS's - so far - show:

- 23,809,524 shares (3.17%) held by JIM Nominees Limited;
- 43,650,794 shares (5.81%) held by Gledhow Investments Limited;
- 75,396,825 shares (10.04%) held by Thomas Grant Nominees Limited (TGNL);

Of the 10.04% held by TGNL the underlying shareholders are disclosed as:

1) P3 Capital Limited (5.28%)
2) Flare Capital Limited (4.76%)

I just checked the regulatory news feed on RDS's website:

https://www.rosslyndatatech.com/about-rosslyn/how-we-work/investor-information/regulatory-news/

It is showing as released by RNS at 0700hrs today.

But it IS NOT showing (as of 1233pm) on the RNS news feed on RDS's page on the London St. Exch. website:

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BKX5CP01GBGBXASQ1.html

However, it is DEFINITELY showing on the pooled RNS news feed on L. S. Exch. below:

https://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html

Once Vela here of - and digest the news - they may perhaps release an RNS too, Rosslyn being one of the firms they are invested in.

Clearly, a big news week at Vela!

Dunno, perhaps it doesn't meet the criteria for RNS?

Perhaps Rosslyn Data thought it cheaper and better to just have the story on Proactive instead?

Rosslyn Data wins two contracts with big multi-national companies worth £0.6mln

https://www.proactiveinvestors.co.uk/companies/news/223577/rosslyn-data-wins-two-contracts-with-big-multi-national-companies-worth-06mln-223577.html

Good to see Bluerock have a decent multimedia outreach strategy.

Effectively augments and supplements - and helps bring to life - the written material companies release.

'Yemen: UAE to reduce troop presence after consulting with Riyadh'

"Emirati official says move part of transition from military to 'peace-first' strategy and Saudi Arabia was consulted."

https://www.google.com/amp/s/www.aljazeera.com/amp/news/2019/07/yemen-uae-reduce-troop-presence-consulting-riyadh-190708155534616.html

The report I'm just watching on the TV channel also cites alleged threats towards UAE's glitzy built environment, emanating recently from the Islamic Republic of Iran, as a reason behind the proposed UAE withdrawal.

June 25th, 2019
"Dubai, United Arab Emirates
Meeting between His Highness Sheikh Ahmed Dalmook Al Maktoum, Honourable Trokon T. Kpui, Minister of State of the Republic of Liberia and Honourable Emmanuelo Sherman, Deputy Minister of Mines of Liberia, to explore the potential of Putu Iron Ore Mine in Liberia, develop port and integrated infrastructure for the same."

From admoffice.ae

After reading about the Dubai Maktoum Princess who has been in the news recently I chanced upon a story about Khalid Al Qasimi - a Crown Prince and son of the ruler of Sharjah in the United Arab Emirates.

He reportedly died suddenly and unexpectedly in London this week.

https://news.sky.com/story/amp/khalid-al-qasimi-crown-prince-and-fashion-designer-39-dies-unexpectedly-at-london-home-11755738

Glad to know though that 'our' Sheikh royal at ADM Energy is still alive and well - and youthful!

Adding up the 1 billion and 1.7 billion shares issued in fundraisings since the 2018 AGM (and including the 0.8 billion warrants issued in connection with the 1.7 billion share placing)...those all, neatly add up to 3.5 billion.

I've just been reading the figures about the 2018 AGM authority a moment ago. My reading of the result of the 17 August 2018 AGM is that the £354,270 authority at nominal value of 0.01 pence gave the Company authority to issue 3.54270 billion shares.

[£354,270 = 35,427,000 in pence; ÷ by 0.01 pence nominal value = 3.54270 billion.]

There have been a number of fundraisings and share issues since then. And a share consolidation. And a change in the nominal value of each share from 0.01 pence to 1 pence.

The Company said in the 2018 AGM notice:

"...this
authority shall expire on the earlier of the conclusion of the Company’s next annual general meeting or
15 months from the date of the passing this resolution..."

In the recent Circular for the upcoming AGM the Company want authority to issue £69,770 shares at nominal value.

That's 6,977,000 shares?

PS I was reading the 22 Oct. 2018 RNS this morning. Part of it read:

"The Company has undertaken its own engineering cost estimates which indicate that the future gas development could be substantially lower than the originally estimated figure of US$1.1 billion. At a development cost of US$ 545 million, the NPV10 could be US$ 50 million, net to the Company - a 78% increase in the Company's base NPV assumption..."

I wonder what - if anything - is now happening on that?