Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Appreciate the pointer regarding SLB. Looks like they will provide the technology and 'know how'
for the drill but the JV and financing will need to be confirmed with another entity as well?
Cheers
Can you give any background info about SLB?
If a robust JV agreement was 'in play' at the moment for Rose, I can't understand why Matt Idiens and his associated PR machine continue to 'do the rounds' on such a regular basis - I can only deduce that Rose are still chasing for any interested investors and sources of 'new' money and that no such JV deal is likely to exist going forward ( I am afraid to say....)
I can only assume that the permit RNS is still being held back until the last of the 3 applications - 16-2 - is approved.
Good afternoon,
Summarised below are the operators who are listed as currently operating nearby to Rose's first approved well Gvu 29-1 - I am not sure as to the physical distances but these guys are currently 'live' in the area
Operators in the Area
Belco Development Corp
Benson-Montin-Greer DRL
British-American Petro Co
Cities Serv Oil & Gas Corp
Encana Oil & Gas (USA), Inc.
Fidelity E&P Company
MSC Exploration, LP
Nae, LLC
Pan American Petroleum Cor
Riata Energy Inc
Rockies Standard Oil Company
S W Energy Corporation
Samson Resources Company
Shell Oil Company
Superior Oil Company
Regarding the delay in informing the market, I am hoping that Rose are finalising a 'one hit' RNS that encompasses the permit approval as part of an overall Operational and Financial update and commitment to drill in Q4 as previously communicated....
I certainly hope so...
The permit news is out - why are Rose not updating the market and their loyal shareholders!!!
Rose have set themselves a very tight deadline saying that they will ‘potentially’ be drilling in Q4 - it seems overly optimistic right now unless they have already progressed a partnership or JV with someone based locally to the permits who already have the equipment and infrastructure to make a quick start
I have the same feeling....... one of a nasty surprise....
I would have thought an RNS tomorrow morning on the permits but maybe they will wrap up some other funding announcements or confirm project dates within a single announcement in a few days time - surely even Rose cannot pull defeat from the jaws of victory...........or can they...
So....what happens next?
Well Name GV State 16-2 API No. 43-019-50089 Well Direction Y
Operator ROSE PETROLEUM (US), LLC Lease No. Field / Formation UNDESIGNATED
Well Status New Permit Well Type Oil Well Township Range Section 22.0S 17.0E 16
Ground Elevation Members Only Kelly Bushing Elevation Members Only Drillers Total Depth Members Only True Total Depth Members Only
County Grand County, UT Closest City Green River Latitude Members Only Longitude Members Only
Permit Date Members Only Spud Date Members Only Completion Date Members Only Plug Date Members Only
Well Name Gvu 22-1 API No. 43-019-50088 Well Direction Y
Operator ROSE PETROLEUM (US), LLC Lease No. Field / Formation UNDESIGNATED
Well Status Approved Permit Well Type Oil Well Township Range Section 22.0S 17.0E 22
Ground Elevation Members Only Kelly Bushing Elevation Members Only Drillers Total Depth Members Only True Total Depth Members Only
County Grand County, UT Closest City Green River Latitude Members Only Longitude Members Only
Permit Date Members Only Spud Date Members Only Completion Date Members Only Plug Date Members Only
Gvu 29-1 Well Details
Well Name Gvu 29-1 API No. 43-019-50087 Well Direction Y
Operator ROSE PETROLEUM (US), LLC Lease No. Field / Formation WILDCAT
Well Status Approved Permit Well Type Oil Well Township Range Section 22.0S 18.0E 29
Ground Elevation Members Only Kelly Bushing Elevation Members Only Drillers Total Depth Members Only True Total Depth Members Only
County Grand County, UT Closest City Green River Latitude Members Only Longitude Members Only
Permit Date Members Only Spud Date
Gvu 29-1 Well Details
Well Name Gvu 29-1 API No. 43-019-50087 Well Direction Y
Operator ROSE PETROLEUM (US), LLC Lease No. Field / Formation WILDCAT
Well Status Approved Permit Well Type Oil Well Township Range Section 22.0S 18.0E 29
Ground Elevation Members Only Kelly Bushing Elevation Members Only Drillers Total Depth Members Only True Total Depth Members Only
County Grand County, UT Closest City Green River Latitude Members Only Longitude Members Only
Permit Date Members Only Spud Date
PREMIUM CONTENT
Rose Petroleum - a Buy
Share Prophets today - Rose Petroleum a buy......
Half-year results from Rose Petroleum (ROSE) saw it concluding “the board is looking ahead with confidence and is excited about the group moving from being an oil explorer to an oil producer in the next quarter”. The shares responded higher, but at still little more than a £5 million market cap we see much more excitement to come…
Unfortunately I don't think so as I emailed a lady at the BLM today and was told that permits were still 'work in progress'....
Good article today on Upcoming Drills by MI - some better info than recent interviews