Grant of options

RNS Number : 9399T

Rose Petroleum PLC

10 October 2014

 



Rose Petroleum plc (AIM: ROSE)

("Rose" or the "Company")

Grant of options

The Company has today granted options over ordinary shares of 0.1p in the Company ("Ordinary Shares") under the Company's share option schemes ("Options").   A total of 43,500,000 Options have been granted to certain directors, employees and contractors as set out below:

Name of Director / employee	Number of Options granted	Exercise price per Option	Total number of options now held
Matthew Idiens, CEO	20,000,000	3.425p	41,800,000
Kris Hefton, COO	10,000,000	3.425p	16,000,000
Other employees and contractors	13,500,000	3.425p	n/a

Each Option is exercisable into one ordinary share of 0.1p each in the Company and can be exercised as to a third after one year, a third after two years and a third after three years up until 9 October 2024.

The new Options granted today represent approximately 3.33% of the Company's current issued share capital and there are now a total of 181,700,000 options over Ordinary Shares outstanding, representing approximately 13.91% of the Company's current issued share capital.

For further information, please contact:

Rose Petroleum Plc                                                                                                                             [phone]

Matthew Idiens                                                                                                                             

CEO

Allenby Capital (Nominated Adviser & Broker)                                                                     [phone] Jeremy Porter / Alex Price

Lionsgate Communications (Public Relations)                                                                        [phone] Jonathan Charles / Lynn Carratt

About Rose Petroleum

Rose Petroleum plc (AIM Ticker: ROSE) is focusing on developing its oil & gas portfolio, while seeking to create value from its mining 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 net 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. Unrisked Prospective (Recoverable) Hydrocarbon Resources on a Best Case (P50 equivalent) basis for the collective total Mancos Shale and Paradox Formation combined was 1,452.86 MMBO (million barrels of oil) and 4,791.85 BCFG (billion cubic feet of gas).

The Company also has three additional licences in Germany, two licences in Baden-Württemberg covering approximately 635,000 acres (2,560 square kilometres) and the third licence covering 657,000 acres (2,640 square kilometres) located in the Weiden Basin (northeast Bavaria).

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.

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

 

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