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Rose Petroleum CEO still upbeat despite missing out on conventional ‘bonus’

The chief executive of Rose Petroleum (LON:ROSE) Matt Idiens insists there is still plenty to play for despite the ‘disappointing news’ that the conventional target at its Utah acreage was not deemed commercially viable.

Idiens told Proactive Investors: ‘It certainly doesn’t take anything away from the potential upside in the Mancos which is where the primary focus and all our resources lie.’

He highlights the difference in size between the conventional and unconventional (shale) targets and says the result does not change its plans for the shale in any way.

Quick facts: Rose Petroleum PLC

Price: 1.45 GBX

AIM:ROSE
Market: AIM
Market Cap: £2.48 m
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Lionel Therond on Rose Petroleum

Lionel Therond talks through Rose Petroleum and the completion of the initial structural interpretation of the 3D seismic data it acquired over its Gunnison Valley Unit (GVU) which is part of its larger lease holding in the Paradox Basin, Utah, U.S.A.

on 02/26/2018

2 min read