Updated Ryder Scott Mancos Resource Estimate

Rose Petroleum plc (AIM: ROSE)

("Rose" or the "Company")

Updated Ryder Scott Mancos Resource Estimate

Rose Petroleum plc, the AIM-listed (Ticker: ROSE) natural resources company, is pleased to announce that Ryder Scott Company LP ("Ryder Scott") has issued its Certified Resource Estimates on the assets recently acquired by Rose in the Cisco Dome Field, located in the Company's Mancos Development Area in the Uinta Basin, eastern Utah, USA ("Cisco").

The full Ryder Scott update report and maps are available on the Company's website, www.rosepetroleum.com.

Highlights

· Ryder Scott's Best (Mid-Case) Gross Unrisked Prospective Recoverable Resource Estimates for the Mancos on the Cisco acreage is 31.30 MMBO (million barrels of oil) and 187.47 BCFG (billion cubic feet gas)

· These additional Mancos Resources Estimates bring Ryder Scott's total Best (Mid-Case) Gross Unrisked Prospective Recoverable Resource Estimates for Rose to 517.79 MMBO and 3,090.86 BCFG in its Mancos development area

· Ryder Scott has been instructed to prepare an additional Reserve Estimate on these assets from the existing conventional production which Rose will release during the next quarter

Group CEO Matthew Idiens commented: "We are pleased to add these additional certified Resources Estimates to our already significant Mancos Resource Estimates and look forward to announcing a further update on the conventional production also acquired in the Cisco deal in the coming months, once completed by Ryder Scott. As we plan to spud our first well in the Uinta basin by year end, the coming months should be transitional for Rose and we look forward to updating the market as we advance the projects." Idiens added: "In addition to the increase in resources it is worth reiterating that, even with the present weakness in the oil price, both the Paradox and Mancos potentially offer excellent economics with both projects having Finding and Development Costs of less than US$20/BOE."

As previously announced last month, Rose acquired 100% of SEP-Cisco Dome LLC's assets in the Cisco Dome Field for US$1.5m. As this acquisition falls within Rose's Joint Venture Area with Rockies Standard Oil Company ("RSOC"), Rose owns 75% of the assets and RSOC the remaining 25%. This acquisition also reduces Rose's US$9.5m Carry Obligation in the Uinta Basin (Mancos) under the Joint Venture by the purchase price (US$1.5m). 

Aside from the production and midstream gathering and gas processing system, the acquisition also provides Rose with 11,000.02 gross / 8,250.02 net acres of highly prospective Mancos acreage, of which 71% of this acreage is Held-By-Production from the Cisco Dome Field with the balance having 10 years primary term. This newly acquired leasehold is immediately adjacent to Rose's existing Mancos acreage.

Ryder Scott's Best (Mid-Case) Gross Unrisked Prospective Recoverable Resource Estimates for the Mancos on this new acreage is 31.30 MMBO and 187.47 BCFG. These additional Mancos Resources Estimates bring Rose's total Best (Mid-Case) Gross Unrisked Prospective Recoverable Resource Estimates to 517.79 MMBO and 3,090.86 BCFG in its Mancos Development Area. 

Rose is now assembling the necessary data for Ryder Scott to provide its additional Reserve Estimates on these assets from the existing conventional production which the Company will release during the next quarter.

For further information, please contact:

Rose Petroleum Plc +44 (0) 20 3697 1209 Matthew Idiens

CEO

Allenby Capital (Nominated Adviser & Broker) +44 (0) 20 3328 5656 Jeremy Porter / Alex Price

Pareto Securities (Joint Broker) +44 (0) 207 786 4370

Guy Wilkes / Will Slack

Lionsgate Communications (Public Relations) +44 (0) 20 3697 1209 Jonathan Charles / Lynn Carratt

John Blair (BSc Geology and MSc Geophysics), Director of Oil & Gas for Rose Petroleum plc, who meets the criteria of a qualified person under the AIM Rules - Note for Mining and Oil & Gas Companies, has reviewed and approved the technical information contained within this announcement.

TABLE 1 - Estimated 100% Gross Volumes Unrisked Undiscovered original hydrocarbons in place in the Mancos Shale leasehold interests of Rose as at 31 October 2014

TABLE 2 - Estimated 100% Gross Volumes Unrisked Prospective (Recoverable) Hydrocarbon Resources in the Mancos Shale leasehold interests of Rose as at 31 October 2014

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 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.

In October 2014, Rose acquired 100% of the assets of a privately owned SEP - Cisco Dome, LLC and various other associated entities for US$1.5 million in cash. The acquired assets included 11,000.02 gross / 8,250.02 net acres of highly prospective Mancos acreage, a gas compression station and gas processing plant as well as 17 producing wells and 35 shut-in wells.

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