RE: ROSE20 Feb 2018 14:50
Weapon,
Read the last RNS. They are hoping for a jv or farm arrangement as they wish to minimize impact to shareholders. No guarantee of course. They have displayed at NAPE and are likely to be in discussions re funding as I type this.
What is on offer for a MCAP of �4m
- 5 drills planned on outstanding quality 3D's. Targeting 450 million barrells of oil. Starting H2 2018.
- over 50 drill targets located in a proven basin.
- sesmics still being reviewed to located more targets and upgrade resource. Ryder Scott 2014 report thinks there is 1.1 billions barrells of oil + gas on ROSE's acerage.
- COS over 50% but should increase because of 3D's
- onshore low cost drilling in US, (UTAH)
- permit process underway.
- targeting gushers over 1,000 bopd.
- top team on board poached from Fidelity.
- cash still held from mill sale and 3D's coming in under budget.
IMO this could easily multibag several times however, the funding is achieved. I have managed to accumulate over 1m shares and I am getting very excited for what lies ahead.