Rose Petroleum - Positive Results from CPR
Rose Petroleum (LON:ROSE) announced on June 22nd the result of the competent person's report ("CPR") by Gaffney Cline & Associates ("GCA") relating to Rose Petroleum’s acreage in the Paradox Basin, Utah. The CPR analyses the results of a 3D seismic acquisition completed in late 2017. The report provides a classification of Rose’s contingent resources, outlined in the table below. A useful summary of definitions is contained in the following web link. Details are also in the Rose Petroleum press release of June 22nd.
Rose Petroleum is an oil and gas (O&G) and mining company with exploration assets and an operational crushing and flotation mill. Co.'s principal activities are the exploration and development of O&G resources together with the evaluation and acquisition of other mineral exploration targets, principally gold, silver, uranium and copper, and the development and operation of mines in Mexico. In Co.'s O&G division, the area of focus is on two unconventional oil and gas basins in the U.S.: the Uinta Basin and the Paradox Basin. In its mining division, Co. continues its milling operations through its subsidiary, Minerales VANE S.A. de C.V., which owns the SDA Mill in Mexico.
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