31 Jan 2014 07:01
Rose Petroleum plc (AIM: ROSE)
("Rose" or the "Company")
Board Changes
Rose Petroleum plc ("Rose"), the AIM-listed (Ticker: ROSE) natural resources company, today announces the resignation of both Steven Van Nort and L. Clark Arnold as non-executive Directors of the main board. With the successful change in direction of the Company, the weighting of the board will move more towards the new business, being Oil & Gas. Both Steve and Clark will remain as consultants for AVEN, the porphyry Copper exploration arm of the business.
Matthew Idiens, CEO, said, "It has been a great honour to work with both Steve and Clark over the past decade and we would like to take this opportunity to thank them both for their contribution during this time. They have agreed to remain with the Company and oversee the porphyry copper exploration programme, which we hope to be able to update the market on soon. "
For further information, please contact:
Rose Petroleum Plc +44 (0) 20 7225 4595
Matthew Idiens
CEO
Allenby Capital (Nominated Adviser & Broker) +44 (0) 20 3328 5656 Jeremy Porter / Alex Price
Lionsgate Communications (Public Relations) +44 (0) 20 3697 1209 Jonathan Charles / Jessica Johnson
About Rose Petroleum
Rose Petroleum plc (formerly VANE Minerals plc) is an AIM-listed (Ticker: ROSE) oil & gas exploration company.
In late 2013, Rose raised additional capital and appointed an experienced Head of New Ventures and in-house technical team, including geological and drilling expertise, to pursue significant new Oil & Gas assets.
In January 2014, the Company announced that it had completed the acquisition of two licences in southwestern Germany covering approximately 635,000 acres. Each licence area is understood to have at least four target pay zones. Management is looking to build on this initial acquisition to establish a balanced international asset portfolio. The Company also has existing mining assets for which it is developing as well as considering options to increase shareholder value.
For further information please consult the Company's website: www.rosepetroleum.com