24 Jul 2017 11:47
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.
24 July 2017
Rose Petroleum plc
("Rose", the "Company" or the "Group")
Approval for Paradox Basin Seismic survey
Rose (AIM: ROSE), the AIM quoted natural resources business, notes the recent movement in its share price and is pleased to announce an update on the permitting process for its proposed 3D seismic survey in the Paradox Basin, Utah.
Following the completion of the public comment period it was confirmed that no further public comments were received on the Environmental assessment ("EA"), and the Bureau of Land Management ("BLM") has confirmed through its website (formal notice has not yet been received by Rose) that it has now finalised the EA along with the Finding of no significant impact ("FONSI"), Decision Record and that it has approved the Notice of Intent for Rose to conduct the seismic survey. The Company is now awaiting the issue of the final permit.
Matthew Idiens, CEO, commented: "Following the exhaustive permitting process we are delighted to have received this approval from the BLM which is a pivotal moment for the Company."
Further updates will be announced in due course.
Enquiries:
Matthew Idiens (CEO) Chris Eadie (CFO) | Rose Petroleum plc | Tel: +44 (0) 20 7225 4595 Tel: +44 (0) 20 7225 4599 |
Jeremy Porter / James Reeve / Liz | Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 |
Kirchner | ||
James Pope / Ben Turner | Turner Pope Investments | Tel: +44 (0)20 3621 4120 |