Director/PDMR Shareholding

RNS Number : 4219L

Rose Petroleum PLC

03 July 2014

 



Rose Petroleum plc

("Rose Petroleum" or the "Company")

Director dealing

Rose Petroleum plc (AIM: ROSE) announces that, solely in order to transfer certain shares from his regular share dealing account into his ISA account, on 3 July 2014 Matthew Idiens (CEO of the Company) sold 2,025,744 ordinary shares of 0.1 pence each in the Company (the "Ordinary Shares") and immediately acquired an identical number of Ordinary Shares. The sale and purchase price was 2.35 pence per Ordinary Share (the "Sale and Purchase").

Following the completion of the Sale and Purchase, Matthew Idiens continues to holds an identical number of Ordinary Shares, namely 20,139,213 representing 1.54% of the current issued share capital of the Company.

For further information, please contact:

Rose Petroleum Plc                                                                                [phone]

Matthew Idiens, CEO

Allenby Capital (Nominated Adviser & Joint Broker)                        [phone]

Jeremy Porter / Alex Price

Pareto Securities (Joint Broker)                                                           [phone]

Guy Wilkes

Lionsgate Communications (Public Relations)                                   [phone]

Jonathan Charles / Lynn Carratt

About Rose Petroleum

Rose Petroleum plc (AIM Ticker: ROSE) is focusing on developing its Oil & Gas portfolio, whilst seeking to create value from its existing mining portfolio.  In 2013, Rose Petroleum raised additional capital, brought in an in-house technical team including geological and drilling expertise to pursue new Oil & Gas assets and, post year end, appointed John Blair as Head of New Ventures.

In January 2014, the Company announced that it had 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 195,000 net acres in Grand and Emery Counties, Utah, USA, within the Paradox and Uinta basins. This acreage was then increased to 230,000 in May 2014.

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).

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

 

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