Grant of Options

RNS Number : 8108E

Rose Petroleum PLC

13 February 2015

 



Rose Petroleum plc (AIM: ROSE)

("Rose" or the "Company")

Grant of options

Rose Petroleum plc, the AIM-listed (AIM: ROSE) natural resources company, announces the grant of  options over ordinary shares of 0.1p in the Company ("Ordinary Shares") under the Company's share option schemes ("Options"). A total of 10,000,000 Options have today been granted to Chris Eadie, Finance Director, as set out below:

Name of Director	Number of Options granted	Exercise price per Option	Total number of options now held
Chris Eadie, Finance Director	10,000,000	1.825 p	10,000,000

The Options will vest in 3 equal annual tranches. Each Option is exercisable into one ordinary share of 0.1p each in the Company and can be exercised as 3,333,333 after year one, 3,333,333 after year two and 3,333,334 after year three up until 12 February 2025.

The new Options granted today represent approximately 0.66% of the Company's current issued share capital and there are now a total of 185,333,333 options over Ordinary Shares outstanding, representing approximately 12.27% of the Company's current issued share capital.

**ENDS**

For further information please visit www.rosepetroleum.com or contact:

Matthew Idiens (Group CEO)	Rose Petroleum plc	Tel: [phone]
John Blair (CEO)	Rose Petroleum (US) LLC	Tel:  [phone]
Jeremy Porter	Allenby Capital	Tel: [phone]
Alex Price	Allenby Capital	Tel: [phone]
Elisabeth Cowell	St Brides Partners Ltd	Tel: [phone]
Lottie Brocklehurst	St Brides Partners Ltd	Tel: [phone]

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, milling and porphyry copper exploration 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 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. Un-risked Prospective (Recoverable) Hydrocarbon Resources on a Mean Case basis for the collective total Mancos Shale and Paradox Formation combined was 1,825.07 MMBO (million barrels of oil) and 6,447.87 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, and the completion of a further £3.5 million fundraise was announced on 5 December 2014.

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

 

END

 

 

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