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Utah Team Update

2 Sep 2014 07:00

RNS Number : 5634Q
Rose Petroleum PLC
02 September 2014
 



Rose Petroleum plc (AIM: ROSE)

("Rose" or the "Company")

U.S. Technical Team Appointments

Rose Petroleum (AIM: Rose), the AIM-listed natural resources company, is pleased to announce that it has made two key appointments to its U.S. technical team: Wade Pollard joins as Vice President of Land and Ty Watson joins as Vice President of Operations. Both have served out their notice period with their previous employers and have commenced employment in Rose's new Denver office, which will serve as the centre of its U.S. Oil & Gas operations.

Ty Watson is an Operations manager with 28 years of experience. He joins from Great Western Oil & Gas where he built and directed the technical and operational field teams for DJ Basin operations. Watson's extensive experience includes similar roles at Enerplus Resources Corp., Shell Canada and Schlumberger.

Wade has 15 years of industry experience as a Landman. He also joins from Great Western Oil & Gas Company where he managed the day-to-day operations of the land department. Previous companies where Wade has held positions include Noble Energy, Hilcorp Energy, Southwestern Energy and El Paso Production Company.

Significantly, both Ty's and Wade's experience span several basins, including the Niobrara, Marcellus, Bakken and Arkansas-Fayetteville Shale.

Group CEO Matthew Idiens commented: "The extensive U.S. shale experience of the team taking shape greatly enhances the operations ability on our Utah projects. We are very happy with the quality of the in-house operations team developing in Denver. Further appointments are expected to be announced shortly."

 

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

 

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 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).

The company also has 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 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
 
 
MSCLLFERAFILIIS
Date   Source Headline
17th Mar 20147:00 amRNSFarm-in agreement on significant US O&G project
12th Mar 20148:36 amRNSWeiden Basin hydrocarbon licence completed
4th Mar 20147:00 amRNSJoint venture agreement with Lowell Copper Ltd.
31st Jan 20147:01 amRNSBoard Changes
31st Jan 20147:00 amRNSGrant of new hydrocarbon licence
21st Jan 20147:00 amRNSCompletion of acquisition
15th Jan 20147:05 amRNSOil & Gas Team appointment - Head of New Ventures
15th Jan 20147:00 amRNSHydrocarbon licence update
7th Nov 20137:00 amRNSQ3 operational and production update
23rd Sep 20137:00 amRNSChange of Adviser
4th Sep 20131:30 pmRNSReplacement Option Grant
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3rd Sep 20137:01 amRNSDirectorate Change
3rd Sep 20137:00 amRNSHalf Yearly Report
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30th Apr 20137:00 amRNSTrading Update & Board Change
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21st Jun 20127:00 amRNSDirector/PDMR Shareholding
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14th May 20127:00 amRNSMexican Gold & Silver Quarterly Operations Update
17th Apr 20127:00 amRNSFinal Results
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6th Feb 20127:00 amRNSMexican Gold & Silver Operations Update
3rd Feb 20127:01 amRNSCopper exploration drilling update
3rd Feb 20127:00 amRNSAppointment of Joint Broker
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10th Jan 20127:00 amRNSWithdrawal of Federal Uranium Lands in N. Arizona
16th Dec 20117:00 amRNSDrilling Update
14th Nov 20117:00 amRNSMinerales VANE revenue update
9th Nov 20117:00 amRNSMexico Quarterly Update

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