Rose Petroleum PLC Update re permitting process & directorate change (0020K)
04 July 2017 - 4:00PM
UK Regulatory
TIDMROSE
RNS Number : 0020K
Rose Petroleum PLC
04 July 2017
4 July 2017
Rose Petroleum plc
("Rose", the "Company" or the "Group")
Update on Paradox Basin permitting process
Directorate Change
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.
On 2 May 2017, the Company announced that following the
completion of the 15-day public consultation period for its 3D
seismic shoot permit application, the Company was informed by the
Bureau of Land Management ("BLM") that certain questions raised in
the public comments should have been addressed by the BLM in the
original Environmental Assessment Study ("EA") that supported the
permit application.
Since then, we have been working to amend both the EA and the
shoot design, to accommodate the points raised, and following the
BLM's acceptance of the revised documentation, the 15-day public
consultation period for the updated EA has now commenced. Following
positive assurances from the BLM, we remain on track for the
granting of the permit and the completion of the physical shoot in
H2 2017.
In a separate development, the Company announces that Kris
Hefton, a Director and Chief Operating Officer of Mining will be
stepping down from the Board of the Company with effect from 31
July 2017. Kris will continue to be engaged as a consultant to the
Company.
Matthew Idiens, CEO, commented: "The acceptance of the revised
EA by the BLM and the commencement of the public consultation
period is a key milestone for the Company and we remain on track
for the granting of the seismic permit in the coming weeks. We are
currently in the process of finalising the operational plans for
the shoot, which we plan to commence in the third quarter of this
year.
I would like to sincerely thank Kris Hefton for his very
significant contribution to the Company over the past 13 years. I
have very much enjoyed working with Kris and look forward to
continuing to have his help and support as a consultant to the
Company."
Enquiries:
Matthew Idiens (CEO) Rose Petroleum Tel: +44 (0) 20
Chris Eadie (CFO) plc 7225 4595
Tel: +44 (0) 20
7225 4599
Jeremy Porter / James Allenby Capital Tel: +44 (0) 20
Reeve / Liz Limited 3328 5656
Kirchner
James Pope / Ben Turner Turner Pope Investments Tel: +44 (0)20
3621 4120
This information is provided by RNS
The company news service from the London Stock Exchange
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