Rose Petroleum PLC Director/PDMR Shareholding (9724V)
12 April 2019 - 4:00PM
UK Regulatory
TIDMROSE
RNS Number : 9724V
Rose Petroleum PLC
12 April 2019
12 April 2019
Rose Petroleum plc
("Rose", the "Company" or the "Group")
Director/PDMR shareholdings
Further to the announcement on 11 April 2019, Rose Petroleum plc
(AIM: ROSE), the AIM-quoted natural resources business, announces
the following purchases of the ordinary shares of 0.1p each in the
Company ("Ordinary Shares") by certain Directors and PDMRs of the
Company.
Matthew Idiens, Chief Executive Officer, has on 11 April 2019
purchased 2,000,000 Ordinary Shares at an average price of 1.75p
per share. Following this purchase, Mr Idiens has a total
beneficial interest in 3,620,257 Ordinary Shares, equivalent to
2.52% of the Company's existing ordinary share capital.
Chris Eadie, Chief Financial Officer, has on 11 April 2019
purchased 945,600 Ordinary Shares at an average price of 1.67p per
share. Following this purchase, Mr Eadie has a total beneficial
interest in 1,717,504 Ordinary Shares, equivalent to 1.20% of the
Company's existing ordinary share capital.
In addition, Tom Reynolds, proposed Non-Executive Director, has
on 11 April 2019 purchased 731,694 Ordinary Shares at an average
price of 1.715p per share.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Matthew Idiens
------------------------------- ----------------------------------
2. Reason for the Notification
-------------------------------------------------------------------
a) Position/status CEO
------------------------------- ----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Rose Petroleum plc
------------------------------- ----------------------------------
b) LEI 254900TAVH3MBZ1EMC29
------------------------------- ----------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
-------------------------------------------------------------------
a) Description of
the Financial instrument, Ordinary shares of 0.1p each in
type of instrument Rose Petroleum plc
Identification GB00B013M672
code
------------------------------- ----------------------------------
b) Nature of the transaction Purchase of shares
------------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1.75p 2,000,000
----------
------------------------------- ----------------------------------
d) Aggregated information: N/A
--Aggregated volume
--Price
------------------------------- ----------------------------------
e) Date of the transaction 11 April 2019
------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
------------------------------- ----------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Eadie
-------------------------------- ----------------------------------
2. Reason for the Notification
--------------------------------------------------------------------
a) Position/status CFO
-------------------------------- ----------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- ----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Rose Petroleum plc
-------------------------------- ----------------------------------
b) LEI 254900TAVH3MBZ1EMC29
-------------------------------- ----------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
--------------------------------------------------------------------
a) Description of
the Financial instrument, Ordinary shares of 0.1p each in
type of instrument Rose Petroleum plc
Identification GB00B013M672
code
-------------------------------- ----------------------------------
b) Nature of the transaction Purchase of shares
-------------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.17p 510,600
0.164p 435,000
----------
-------------------------------- ----------------------------------
d) Aggregated information:
--Aggregated volume 945,600
--Price 1.67p
------------------------------------- ----------------------------------
e) Date of the transaction 11 April 2019
-------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
-------------------------------- ----------------------------------
Contacts:
Rose Petroleum plc
Matthew Idiens (CEO) Tel: +44 (0)20 7225 4595
Chris Eadie (CFO) Tel: +44 (0)20 7225 4599
Allenby Capital Limited - AIM Nominated
Adviser Tel: +44 (0)20 3328 5656
Jeremy Porter / James Reeve / Liz Kirchner
Cantor Fitzgerald Europe - Financial
Adviser and Joint Broker Tel: +44 (0)131 257 4634
Nick Tulloch Tel: +44 (0)20 7894 7686
David Porter
Novum Securities Limited - Joint Broker
Colin Rowbury Tel: +44 (0)20 7399 9427
Turner Pope Investments - Joint Broker
Andy Thacker Tel: +44 (0)20 3621 4120
Media enquiries:
Allerton Communications Tel: +44 (0) 20 3633 1731
Peter Cunliffe peter.cunliffe@allertoncomms.co.uk
Notes to editors
Rose Petroleum plc (http://rosepetroleum.com) is a North
America-focused oil and gas company whose primary asset is
approximately 80,000 net acres in the prolific oil and gas
producing Paradox Basin in Utah, U.S.A., where it is earning into a
75% working interest. Using high-quality data gathered in a 3D
seismic survey completed in October 2017, the Company has
identified drilling locations in naturally fractured areas of the
Paradox Formation and has chosen the first well location and it is
now permitted to drill and plans to commence the drilling programme
and the first well as soon as possible, subject to rig
availability, stipulations of the leases, BLM Unit obligations and
financing.
On 22 June 2018, Rose announced a Competent Person's Report
("CPR") and Maiden Contingent Resource by Gaffney Cline &
Associates ("GCA") on the Rose acreage covered by the 3D seismic,
approximately 17,250 acres of the 80,000 acres held. The CPR
estimated a 2C Contingent Resource, net to Rose, of 9.25 MMBbl of
oil and 18.50 Bscf of gas, and an unrisked pre-tax Net Present
Value (NPV10) on the 2C Resources, net to Rose, of US$122 million.
The CPR focused solely on one single reservoir - the Cane Creek
reservoir (the "CCR" or "Clastic 21") - of the multiple prospective
reservoirs within the Paradox Formation.
The Company's established management is supported by an expert
technical team with extensive experience of the basin, where
current operations nearby have proven successful, with significant
initial production rates and low decline rates, offering strong
economics even in the present oil price environment.
The Company's strategy is to grow both organically and through
acquisition, identifying additional hydrocarbon assets,
conventional or unconventional, that would benefit from the
Company's fast-acting, entrepreneurial approach.
Rose Petroleum has been quoted on AIM since June 2004.
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