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Commencement of Recording at 3D Seismic Shoot
Commencement of Recording at 3D Seismic Shoot.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7471S Rose Petroleum PLC 05 October 2017 \n\nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n \n5 October 2017\nRose Petroleum plc\n(\"Rose Petroleum\" or the \"Company\")\n \nCommencement of Recording at the 3D Seismic Shoot in Paradox Basin, U.S.A\n \nRose Petroleum (AIM: ROSE), the AIM quoted natural resources business, is pleased to provide an update on operational activity on the ground in Utah following receipt of funding from the recent equity placing for the 3D seismic shoot in the Paradox Basin. \n \nHaving commenced operations prior to the funding being in place, Rose Petroleum is now well on track with the seismic shoot and should complete it well ahead of the Company's year-end target. The project is now one month into operations, post final permitting, and considerable progress has been made across the 40 square mile shoot area. \n \nThe surveying work, to mark source point and receiver points for the seismic work is now completed and Xtreme Drilling, the drilling contractor, has now mobilised five drilling rig crews and has commenced the drilling of the 405 shot holes required for the shoot. The drill crews are expected, weather permitting, to complete the shot hole drilling programme by mid-October.\n \nDawson Geophysical, the Company's turnkey consultants, has mobilised their recording crew and all equipment required for the shoot is now on site. The recording crew have completed their seismic sweep tests that define the actual parameters by which the seismic crews will begin recording data. Strength of signal and time of signal were tested in different frequencies and then analysed to see which produces the best quality data. The parameters are now set with data quality appearing to be excellent. The recording of the entire 40 square mile shoot commenced on 4th October and, weather permitting, is expected to take approximately five weeks. \n \nThe balance of funding expected from the recent equity placing, which is subject to the passing of the resolutions at the Comp...