logo-loader
viewRose Petroleum PLC

Rose Petroleum chief explains how £3.1mln placing will fund ambitions

Matt Idiens, chief executive of Rose Petroleum (LON:ROSE), discusses the £3mln to be raised in the placing announced today, alongside more analysis from its Mancos shale acreage in Utah. ‘The most important thing is the money and to be able to progress the project and to create the value that we want to create – and we’re now able to do that,’ says Idiens. Idiens says the initial plan was to raise the cash via a book building process but media pressure meant a change of plan.

Shortly after the open, Dow Jones was 0.03% lower to 18,307 while the tech-heavy Nasdaq and the broader S&P 500 were equally as flat.

Matt Idiens, chief executive of Rose Petroleum (LON:ROSE), discusses the £3mln to be raised in the placing announced today, alongside more analysis from its Mancos shale acreage in Utah.

‘The most important thing is the money and to be able to progress the project and to create the value that we want to create – and we’re now able to do that,’ says Idiens.

Idiens says the initial plan was to raise the cash via a book building process but media pressure meant a change of plan. The company raised the bottom end of what it said it would (£3mln-£5mln) in order not to dilute shareholders further, Rose’s CEO explains.

Quick facts: Rose Petroleum PLC

Price: 1.15 GBX

AIM:ROSE
Market: AIM
Market Cap: £2.32 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Rose Petroleum PLC named herein, including the promotion by the Company of Rose Petroleum PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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