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Rose Petroleum says Cuba represents an "excellent opportunity" for the company

Matt Idiens, chief executive at Rose Petroleum (LON:ROSE), tells Proactive Investors the £800,000 the company has raised through a placing will help further develop opportunities that have arisen in Cuba, specifically around the processing and manufacturing of gypsum as it has identified a significant deposit.

Idiens says Cuba "is clearly on a growth path at the moment" especially in construction given the current boom witnessed in the industry.

He adds the company is always looking to drive shareholder value, especially in the current oil price downturn, and that Cuba represents an "excellent opportunity".

Quick facts: Zephyr Energy PLC

Price: 0.9 GBX

Market: LSE
Market Cap: £6.27 m

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