Member Info for maestro1

South I can bet you rose will get funding to drill well. Asset is great and the COS is over 56%, so literally appraisal wells. The mill was sold last year, its finished they changed the business plan and now its to concentrate in paradox to produce oil and gas.

South You say the bod dont have experience to drill in paradox, its the team who they have employed who have extensive experience in the area and have drilled multiple wells in the area. Dont understand what you mean...

South They have over $2m in the bank, yes they dont have the cash hence employing Cantor to help with finding partner or cash. I think its different with paradox basin, rose has employed the same team which increased fidelity production from 100bopd to 3500bopd in the space of 18 months, this was all just south of our acreage. The team know the geology of the area well and they chose the drilling targets The other thing is the independent verification of the asset and the june cpr proved it. Now is the time to invest in rose..

South Paradox was being delayed, literally taking years just to get the 3d seismic permits. Under trump the permit process has speeded significantly. Board couldn't sit idle and made some poor investments as a result they had to relinquish mancos as they were burning too much cash. Cuba investment they went to advance stages of tendering process but it didnt happen. For the size of the company its best to concentrate on one asset. Paradox acreage finally moving along. Long term shareholders need to average down if they dont believe in company they need to move on. Alot of companies went under during the downturn in energy mkt, rose are still here...

Yup!

They are expecting permit by end of this month and company say they are on track to drill this year. Interims out by the end of sept to update shortly. Plenty of newsflow here..

20m mkt cap. Imho Sp is so low due to funding uncertainty, they will get the funding one way or another. Its a very large acreage. Eme is worth over 40m can't see why rose cannot be 40m also once oil is flowing.

It all depends what sort of funding they do. If they do placing it will 1x bag at least if they get farm in its potentially multibagger short term. My guess negotiations have been going on since beginning of year if you read the rns, cantor were employed in june near the cpr time. They likely here to raise money via placing...

South Even you would admit that the project is really attractive if you look at our mkt cap and third party validation. Clastic 21 is found in further 37000 acres of our asset and can significantly increase our 2C contingent resource. The 3 wells we are planning on drilling are appraisal like wells with COS over 56%. The company south of us have successfully drilled horizontal well using 3d data. Im very confident of success here.

Behave sp behaving around current levels until news released. Last news was in june. Idien said its transformational times he needs to deliver something to shareholders. Cantor need to do their job and hurry up with helping us raise funds.

One thing i will suggest rose avoid are cln, those totally destroy companies. 50K seller doing his thing has been for awhile one can speculate to keep price down for placing. Time will tell, rose need to give us an update, its been almost 3 months since they had. Interims likely next week if not tomorrow..

Rose raise £6.5m and drill the first well, the well is successful and well payback less than 1 year.

Rose borrow another £6.5m drill second well, pay off loan via oil sales from first well.

Drilling 2/3 wells may produce over 1000bopd, mkt cap of 50m justified especially with the massive acreage and resource.

just taking the mick now, i bet they come out and say they wont drill WH this year, we all know SL is a duster else any signs of oil shows they would have had to release to market long ago, it was multi horizon well..

IMHO

"Negotiations with potential investors and partners to fund the drilling programme are ongoing, and the Board will prioritise options, including joint venture and farm-in arrangements, to ensure that any dilution to existing shareholders is kept to an absolute minimum, while still realising the full value of the project. We will keep the market fully updated on what promises to be a very exciting period ahead for the Company."

Idien has alot of haters like South he needs to prove them wrong.

back in may 2018 idien said

"The improved funding position of the Group, as a result of this fundraise, will also improve the negotiating position of the Board as it progresses through the process of funding the drilling programme for the Company's first Paradox wells."

I will be looking at the cash levels of the company in next set of results they clearly have said in the past they have reduced cost especially relinquising Mancos and disposing the mill. Idien has to keep to his word and im hoping the balance sheet is strong.

So current mkt cap is 3.5m and if they raise 6.5m that equates to 10m mkt cap, sp should rise to 5p and mkt cap will be 20m.

Dont forget each horizontal wells can produce upto 900k boe and payback is less than a year.

Fiedelity in the same basin has been successfully extracting oil.

dsrt

the permits are a given its all a question of when, im fairly confident it will be soon.

With regards to funding, i believe they will get funding as the have cantor on board, i recall MATD banging about a JV and they making great process what happened 2 placings to go it alone.

I dont mind placing at the current levels, i see value in the company, but im beginning to feel that will be the likely option. Rose mkt cap should be over 20m its too cheap if you look at their acreage..

DSRT

interims are 100% likely by the end of sept.

Im expecting an permit announcement but this is out of company hands as the BLM decides when they issue permits not Rose. By the end of sept the GVU-29 application will be with the blm for 11 weeks, lets see.

dsrt

I think the team that they have hired(which managed to increase fidelity production from 100bopd-3500bop) and the asset they have is good enough, with the mkt cap being low i see value here.

Lets see there is newsflow in the next few months.

South They were losing alot of cash on the mill they had to decide what they solely wanted to concentrate on. Basically from last sept they have started again. The more i think about it the more likely i believe there will be placing to drill the first well.