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Directorate Change

8 Aug 2014 07:00

RNS Number : 5952O
Rose Petroleum PLC
08 August 2014
 



Rose Petroleum plc

 ("Rose" or the "Company")

 

Directorate Change

John Blair joins Rose Petroleum's main Board of Directors and becomes new CEO of Rose US

 

Rose Petroleum (AIM: Rose), the AIM-listed natural resources company, is pleased to announce that John Blair has been appointed to the Board of Directors of Rose Petroleum plc as Director of Oil & Gas, with immediate effect. In addition, John has also been promoted to CEO of Rose Petroleum (US) LLC ("Rose (US)"), the Company's wholly-owned subsidiary, which controls its US Oil & Gas assets.

 

John has over 27 years of experience in the upstream Oil & Gas industry. John holds a B.Sc. in Geology and a M.Sc. in Geophysics. He was Senior Vice President at global consulting firm Knowledge Reservoir for three years until 2013, where he analysed over 150 unconventional shale resource plays worldwide for numerous clients including Statoil, Pemex, Marubeni, Itochu, and Maersk. He has also founded three successful private independent US Oil & Gas companies and is a recognised expert in both conventional and unconventional Oil & Gas exploration and development.

 

Group CEO Matthew Idiens commented: "In line with the Company's directive of strengthening the Oil & Gas side of the Board, I am pleased to welcome John to the Board and his appointment to CEO of Rose (US). John's depth of experience in both operating and assessment of potential projects is a great asset for us and I look forward to working with him over the coming years. We are continuing to build the operations team in the US and plan to announce further updates in the near future."

 

John Blair commented: "I am very pleased to be appointed CEO of Rose (US) and am looking forward to developing our assets in eastern Utah."

 

For further information, please contact:

 

Rose Petroleum Plc +44 (0) 20 7225 4595

Matthew Idiens

Group 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 / Lynn Carratt

 

Regulatory information

 

Full name: John Matthew Blair (aged 51)

 

John Blair is, or has been within the last five years, a director or partner of the following entities:

 

Current directorships or partnerships

Directorships or partnerships within the last five years

· K.B. Resources, Inc.

· None

· J.M. Blair, Inc.

 

· Hilltop Resources, LLC

 

· Rose Petroleum (UK) Limited

 

 

John Blair holds 2,000,000 ordinary shares in the Company representing 0.15% of the total issued share capital of the Company. In addition, Mr Blair holds 23,700,000 options to subscribe for new ordinary shares at 0.4 pence per ordinary share.

 

There are no further disclosures to be made in relation to John Blair under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

About Rose Petroleum

Rose Petroleum plc (AIM Ticker: ROSE) is focusing on developing its Oil & Gas portfolio, while seeking to create value from its existing mining portfolio. 

 

In January 2014, the Company completed the acquisition of three licences in Germany, two licences in Baden-Württemberg covering approximately 635,000 acres (2,560 square kilometres) with each licence area represented to have at least four target pay zones, and the third licence covering 657,000 acres (2,640 square kilometres) located in the Weiden Basin (northeast Bavaria). 

 

In March 2014, Rose signed a farm-in agreement under which its newly formed subsidiary, Rose Petroleum (Utah) LLC, can earn 75% of certain oil, gas and hydrocarbon leases covering approximately 230,000 net acres in Grand and Emery Counties, Utah, USA, within the Paradox and Uinta basins.

 

In May 2014, Rose published the results of its reserve report prepared by Ryder Scott Company on the Mancos and Paradox Oil & Gas Projects. Unrisked Prospective (Recoverable) Hydrocarbon Resources on a Best Case (P50 equivalent) basis for the collective total Mancos Shale and Paradox Formation combined was 1,452.86 MMBO (million barrels of oil) and 4,791.85 BCFG (billion cubic feet of gas).

 

In June 2014, the Company successfully raised £6.5m by way of an oversubscribed conditional placing and subscription to develop the Mancos and Paradox assets in Eastern Utah.

Management intends to build on these projects to establish a balanced international asset portfolio. For further information please consult the Company's website: www.rosepetroleum.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOABRGDIDGGBGSR
Date   Source Headline
18th Feb 20155:00 pmRNSHolding(s) in Company
17th Feb 20157:00 amRNSCompletion of Wate Sale
13th Feb 20157:00 amRNSGrant of Options
12th Feb 20157:00 amRNSDirectorate Change
3rd Feb 20157:00 amRNSOil & Gas and Operational Update
13th Jan 20157:00 amRNSOperational update
2nd Jan 20157:00 amRNSSale of interest in Wate Mining Company LLC
31st Dec 20147:00 amRNSUpdate on State 16-42 Paradox Well
31st Dec 20147:00 amRNSSpudding of State 1-34 Mancos Well
22nd Dec 20147:00 amRNSProduction commences at Mexico mine
18th Dec 20147:00 amRNSGrant of Drilling Permit for State 1-34 Well
17th Dec 20147:00 amRNSInitiation of Completion on 16-42 Paradox Well
8th Dec 20147:00 amRNSCommencement of work at 1st Mancos well site
5th Dec 20141:23 pmRNSCompletion of Placing and Subscription
1st Dec 20147:00 amRNSFundraising by way of a conditional placing
27th Nov 20147:00 amRNSDrilling contractor agreement signed
24th Nov 20147:00 amRNSState Unit Approval
13th Nov 20143:20 pmRNSAppointment of KPMG LLP as Auditor
7th Nov 20147:00 amRNSUpdated Ryder Scott Mancos Resource Estimate
5th Nov 20147:00 amRNSStrategic decision to focus on Utah
3rd Nov 20147:00 amRNSAcquisition of additional acreage in Utah & TVR
31st Oct 20143:00 pmRNSAnalyst site visit
24th Oct 20149:09 amRNSShareholdings in Company and TVR
21st Oct 20147:00 amRNSIssue of equity under farm-in agreement
15th Oct 20147:00 amRNSUpdate re. TC copper project
10th Oct 20147:30 amRNSGrant of options
10th Oct 20147:05 amRNSU.S. oil and gas technical team appointment
10th Oct 20147:00 amRNSCompletion of strategic acquisition
30th Sep 20147:00 amRNSHalf Yearly Report
15th Sep 20147:00 amRNSOil & Gas operations update and Technical Team
11th Sep 20147:00 amRNS"Drill ready" copper and molybdenum porphyry & JV
8th Sep 20147:00 amRNSMexico high-grade mine joint venture agreement
2nd Sep 20147:00 amRNSUtah Team Update
8th Aug 20147:00 amRNSDirectorate Change
5th Aug 20147:00 amRNSUtah Operations Update
31st Jul 20145:37 pmRNSTotal Voting Rights
25th Jul 20145:00 pmRNSDirector/PDMR Shareholding
10th Jul 20148:30 amRNSHolding(s) in Company
4th Jul 20141:30 pmRNSIssue of Equity
3rd Jul 20144:51 pmRNSHolding(s) in Company
3rd Jul 20144:46 pmRNSDirector/PDMR Shareholding
27th Jun 201410:07 amRNSResults of AGM and Total voting rights
24th Jun 20141:00 pmRNSTR-1: Notification of Major Interest in Shares
20th Jun 20147:00 amRNSOversubscribed conditional placing to raise £6.5m
19th Jun 20141:30 pmRNSConvertible loan note - issue of equity
10th Jun 201410:28 amRNSEnerCom Conference Presentation
6th Jun 20149:10 amRNSConvertible Loan Note
3rd Jun 20147:01 amRNSFinal Results and notice of AGM
3rd Jun 20147:00 amRNSAppointment of joint broker
23rd May 20147:01 amRNSPublication of Economic Analysis

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