Shareholdings in Company and TVR

RNS Number : 2276V

Rose Petroleum PLC

24 October 2014

 



Rose Petroleum plc

("Rose" or the "Company")

Shareholdings in Company and Total Voting Rights

Rose Petroleum plc, the London-listed (ROSE.L) natural resources company, announces that it received notification yesterday that on 23 October 2014, Peaseblossom Limited acquired 4,100,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") from Caithness Limited at a price of 3.15 pence per Ordinary Share.

Peaseblossom Limited is controlled by Roy Williams and following this transaction, Roy Williams is beneficially interested in a total of 157,781,715 Ordinary Shares, representing approximately 12.04% of the current issued share capital of the Company.

Following this transaction, Caithness Limited is interested in 116,133,333 Ordinary Shares, representing approximately 8.86% of the current issued share capital of the Company.

Total Voting Rights

Further to the announcement on 21 October 2014 regarding the issue of 4,178,152 Ordinary Shares, the Company announces that its issued share capital as at the date of this announcement consists of 1,310,185,133 ordinary shares of 0.1p each with one voting right per share. The Company does not hold any shares in treasury. Therefore the total number of Ordinary Shares and voting rights in the Company is 1,310,185,133.

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

Rose Petroleum Plc                                                                                                                                  [phone]

Matthew Idiens                                                                                                                             

CEO

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

Pareto Securities (Joint Broker)                                                                                                         [phone]          

Guy Wilkes / Will Slack

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 existing 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 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 gas).

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.

In October 2014, Rose acquired 100% of the assets of a privately owned SEP - Cisco Dome, LLC and various other associated entities for US$ 1.5 million in cash. The acquired assets included a gas compression station and gas processing plant as well as 17 producing wells and 35 shut-in wells and an additional 11,000 acres in the Unita Basin.

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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