A welcome RNS and with the NAPE conference imminent (starts one week today in Houston) ROSE will be looking to sell this to any potential/interested farm-in/JV people who would have read or been informed of this latest news. I am guessing more appointments are being made to meet on their booth as I type.
Timing of this RNS is perfect as NAPE is the big one. Give it a week after that for another RNS update on NAPE and even better, maybe even an agreement in principal.
This is definitely worth a punt now (at last!!!) and, for me, to regain some losses even on a nice little T20 or average down as alluded to earlier.
in for a pound.
Never been so apt as my averages are mainly the latter.
Tell me I'm wrong but with 99% loss as I have some ROSE in the "Pounds" (new money too!!!!!) scattered amongst ISA, SIPP trading accounts etc I thought I might as well get my average down into the high pennies, for a few hundred pounds investment, in the hope that these "might" multi-bag.
I convinced myself I was thinking "out of the box" but.....we shall see.
My strategy (lol) is that the next RNS might, just might edge this up but against that is another cash call (most likely) but hopefully after a small rise first.
anyway - what the heck - my first sentence still stands.
Any views appreciated.
Topped up @ 3.70p.
Just reread the advise from Sprocket in May 15. ( after buying and logging on to post )
I do not know if i am learning from mistakes lol.
I do think its gambling .
That brokers firm did take part in placing @ 4p .. although he personally claimed he did not sit in with his investment committee this time .
Its all about spikes .
i couldn't be bothered calculating Ripley... the market sawthe need for such a raise coming a mile off and hence the price it is now done at is awful...... i've had a mare with this one in fairness.. luckily i've only got 3k in here but its worth 1k now alas.. not ready to think about averaging down for a while here yet though.. but it might make a comeback in due course if positive seismics.. bottom drawer for these for me for now.. sorry for any recommendation I have made on this previously....
Good job im not also in JOG , which has fallen 82% today .
Winnifrith claims all these little oilies are just a pure gamble with odds stacked against you, there is no way of valuing the assets and no such thing as any fundamentals.
He point out all the brokers/ those in the know buy on the rummer and sell on the fact.
Haven't checked JOG but the fact must of been bad.
Attention drawn to another slagging by Winnifrith today in a not so frequent now bearcast .
It fell 12% Friday id guess hes trading it.
Since Kam informed me in June hes changed his mind o it, ( questioning Integrity , but i wonder about these small brokers and all of the brokers )
Price has been much the same.
With ups and downs like Friday from time to time. now about 0.1p ( June 2016 about 0.16p )
Turner pope will do a placing for this tiddler says Tom its a stinker Market Cap of 3.4m but "utterly worthless" not fit to be on aim , got to keep raising money ( typical small USA small resources rubbish stock ) All need avoiding .
This one stands out as into many different commodity's and not focused on one which Tom says would be better.
Tom claims small PI always misplace risk ? but i was sucked in on brokers advise , he being on his brokerage investment committee and there analyst had studied it .
Why after years of going alone do i forget and fall for there patter ?
Are they all crocks ?
Share price continues to react nicely.. long may it continue..and with market cap of approx. £5m there is much much room for that to readily happen: The possible reserve estimates at Paradox Basin are amazing
Early days still on this but the market is forward looking
7 March 2017
Rose Petroleum plc
("Rose", the "Company" or the "Group")
Update on Paradox Basin permitting process
Rose (AIM: ROSE), the AIM quoted natural resources business, is pleased to announce an update on the permitting process for its proposed 3D seismic survey in the Paradox Basin, Utah.
The Company has been informed that the Bureau of Land Management ("BLM") has accepted its Environmental Assessment Study ("EA") that supports its permit application and the 15 day public consultation period for the permit has now formally begun.
Following completion of the public consultation period, there will be a period of response to any questions raised by the public, following which the application will be put forward for final approval. If this process is successful, the Company now expects to receive the permit by the end of May 2017.
Matthew Idiens, CEO, commented: "The acceptance of the EA by the BLM and the commencement of the public consultation period is a major milestone in the permitting process and we understand this means the BLM believes all relevant issues have now been addressed to allow the permitting process to advance to final approval.
We look forward to receiving the final permit and commencing the physical shoot in H2 2017".
Rose Petroleum making progress on all fronts
07:24 23 Jan 2017
Chief executive Matthew Idiens said "with the change in political regime in the US, we feel the incoming administration will be very supportive of our industry."
Rose Petroleum making progress on all fronts
Rose wants to carry out a 3D survey before it starts drilling on its Utah acreage
Rose Petroleum PLC (LON:ROSE) said it is making progress across all areas of its natural resources portfolio and added it hopes to receive official sign-off for a 3D seismic programme on its Utah oil and gas acreage in the first half.
Rose appears to be gaining traction with the Bureau of Land Management that would allow it to begin the shoot on 61-square miles of the Paradox Basin property later this year.
This southern-most area of the property is closest to a neighbouring oil discovery, which turned out to be the highest producing onshore well in the US. Roses licence is estimated to be host to an un-risked 1.15 billion barrels of oil and/or gas condensate.
"We have been making progress on all fronts and with the change in political regime in the US, we feel the incoming administration will be very supportive of our industry and feel the future is encouraging for US energy, both in terms of oil and gas and nuclear industries, said chief executive Matthew Idiens.
He added: We hope to be able to announce the granting of the 3D permit in coming months which will enable us to commence the realisation of the significant potential value of our Paradox acreage.
Down Mexico way ...
In Mexico. the company is reviewing projects that could potentially provide ore for processing at its SDA Mill and the company has assessed the potential of five opportunities.
Evaluations are continuing on two - one is a gold resource, the other silver.
Sticking with Mexico, Rose is currently in talks with its joint-venture partner on initiating a drill programme at the Tango Project to explore the porphyry targets and the San Agustin vein for potential gold-silver production.
It is also in discussions with the tax authorities in the country over the reclamation of an estimated US$760,000.
We have made significant progress in this process over the past few months and are confident of a positive outcome, Rose said.
In Cuba, the company is now awaiting an official response to its proposals to develop gypsum production that would supply the local market and the Caribbean.
Relationships developed on the island mean Rose is now in early-stage talks with the national oil company CUPET about acquiring oil and gas licences.
"Having presented our proposal on the Cuban gypsum project, we are awaiting the official response and we have opened up discussion with CUPET in respect of oil and gas licenses, which we hope we can develop further," said Idiens.
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