Member Info for maestro1

Shibs Idien said with the amount of interest they are confident of getting funding. South Stop crying about the 100-1 consolidation it happened last year, its the stock market. There were too many shares in issue they had to be reduced. You dont like the company move on you dont trust idien move on, not worth wasting your time here.

Will be the first well to be drilled, Idien said the whole process for federal land permits take around 6 months, in april rns they state the permit process is well underway. Im expecting 29-1 permit shortly and drilling very soon after that.

Fill yer boots South.

Notice the final paragraph, they looking for a JV. Thats the likely option.

OVERVIEW

Oil and gas asset located in the Paradox Basin in Utah, USA

Earning 75% working interest in over 80,000 net acres, including a 75% working interest in an additional 3,320 gross acres (2,490 net) acquired in April 2018

Targeting the Paradox Clastics Formations (multiple target levels) and Leadville Limestone
Completed 3D seismic shoot over 40 sq miles within the Gunnison Valley Unit in October 2017 to identify drill targets in the Paradox Formations (fracture swarms) and additional potential within the Leadville Limestone (directly below the Paradox formations)

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 Formations
Extensive infrastructure in place including road, rail, gathering and major gas pipelines and oil refineries in close proximity

A farm-in process to involve potential development and financial partners continues – now supported by the CPR independently validating the geological and economic strength of the project.

South

I think you got your percentage calculations wrong there. total is 100%. :-)

Anyway you are talking about the past again, we are talking about the current affairs, Rose has independent verification on the massive oil/gas acreage, so it has value.

The BLM controls when they issue the permits, Rose cannot speed up the process. I have spoken to the company and they say they are still on track to get an permit in q3 and the plan remains to drill a well in 2018.

Did you not read the 19th April rns where Rose said
"Discussions with industry and financial partners to fund the drilling programme are underway and, as previously announced, the Board is committed to avoiding dilution to existing shareholders wherever possible."

The aim is to get farm in, even if they cant and then its a placing. Raising £6.5m is not the end of the world if you bought shares at 2.5p.

Time will tell, current mkt cap the company is a steal.

South

16p is still only a mkt cap of 23m. Our independent cpr results just on 20% of acreage and only clastic 21, the pre tax NPV is $122m, clastic 21 formation is in another 37000 acres of the asset which wasnt included in the calculation as the area was not surveyed by 3d seismic.

Yet here we are with mkt cap of 3.1m, once funding sorted this should surge quite a bit.

IMHO

South Placing is last case scenario whereas JV is likely. Like i said on numerous occasions placing is not the end of the world at current prices.

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ROSE/13611215.html

The Company has assembled a highly experienced subsurface and surface operational team with extensive experience and a successful track record in the Paradox Basin. The team designed, managed and implemented a nine-well drilling programme in the Paradox Basin directly to the south of Rose's acreage. Eight of these wells were commercial and production grew from circa 100 barrels of oil per day ("BOPD") to over 3,500 BOPD.

Discussions with industry and financial partners to fund the drilling programme are underway and, as previously announced, the Board is committed to avoiding dilution to existing shareholders wherever possible.

The prospectivity of Rose's acreage is underpinned by the existence of the producing 28-11 well which is only 365 metres to the west of the new acreage. The 28-11 was drilled in 2006 by Delta Petroleum and has produced 141,000 BOE from Clastic 21. These factors give management a high degree of confidence in the potential of Rose's acreage and, as a result, it has been decided to also proceed with the permitting of a second well location in the new acreage, the 22-1 well. The 22-1 would be a horizontal well which Rose's management consider has an Estimated Ultimate Recovery ("EUR") of 894,000 barrels of oil equivalent ("BOE").

Next 3 months some interesting news flow should be coming at rose;

H1 Results anyday now
Updated CPR
Permits
JV/funding for well

Get the permits and funding sorted this is easily over 10p. imho

Emailed matthew yesterday and received out of office email saying hes away on business. Interesting... H1 results should be out soon also...

Dsrt With the current shares in issue at 16p the mkt cap would be 23m. That is possible should the permits come in and hopefully a jv to drill some wells. We know oil is down their..

Yea the waiting is not rose fault, if you look at Utah mining website 3 permits have been applied for, its all down to when they will issue them. People do not work for free, you need to realise bod do not come to stock market to think of shareholders. Its for one to decide whether the company is worth investing in. At the moment the sp is at low price, hint of some positive news this can surge.

Forward to 4 mins - idien says the project will generate enough interest to find someone

http://www.proactiveinvestors.co.uk/companies/stocktube/9192/rose-petroleum-brings-in-1mln-of-new-capital-to-support-paradox-basin-plans-9192.html

dsrt2012

Ok fair enough but Idien didn't make up the CPR did he? The INDEPENDENT cpr only analysed data for one clastic on 20% of the acreage, the project value for that 2C contingent resource was NPV Pre tax of $122m Net to Rose. This is not made up.

I would prefer a JV as SP can go crazy but like i said a placing and investors buying at this level there is still money to be made.

Idien said the first permit would be received in q3 still a few weeks to go in q3, we are week 9 since the permit was submitted, lets see.

rose paid $2m plus free carry to our partner for 75% working interest and they spent money doing the 3d survey on the 20% of the acreage. Yet mkt has valued the company at 3.1m. They will likely have half that in cash so the asset mkt is valuing at just 1.5m.

I think that is ridiculous.

I wont write off Rose just yet

I think additional 300m shares maybe place should they go the placing route. Im not concerned about placing if we are buying shares at 2.5p. Time will tell, im still going for jv lets see the permits being issued first. Right now with the asset they have the company should be worth near 10p.

dsrt2012

So what if a placing is coming? With the current mkt cap the company is really appealing. Rose released cpr for 18% of acreage on one clastic which has value of pre tax NPV of $122m net to rose.

Rose requires 6.5m pounds to drill the first well and tie it in, should an placing occur this will result in total shares in issue of c. 430m. Not the end of the world, the large acreage which has potentially over 1 BN barrels of oil is huge.

Idien has said they are going for a JV as the SP is massively undervalued.

what concerns me is that the SL was a multiple horizons drill and if oil was found they would have told us.

Nothing has been mentioned..

torpey

the time you are talking about RRR didnt have over £3m in the bank and jms shares were delisted and were valued at 7c per share. Now they are valued at 35c a share and we have 18.5m shares in them, so thats around £3.55m in value for them.

The jms shares give us a dividends of circa £800k per annum, so they are nice little earner.

Then we own 22% of Steelmin plant which has commenced commerical production recently, if that plant was built from scratch it would have easily cost over $70m.

Then we have migori licenses which we are trying to get back, it has a reserve of 1.2Moz with a potential to be increased.

Just cant believe mkt cap is only 4m for the whole company its absolutely ridiculous.

Hopefully wrapped up very very soon.

In the past he has never said by tge end of month its always been very soon. I think he has gone to kenya earlier in week.. Time will tell...

He also hinted migori might be wrapped up this month.