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CPR - Maiden Contingent Resource and NPV Estimate
CPR - Maiden Contingent Resource and NPV Estimate.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \nRNS Number : 2125S Rose Petroleum PLC 22 June 2018 \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.\n22 June 2018\n \nRose Petroleum plc\n(\"Rose\", the \"Company\" or the \"Group\")\n \nCompetent Person's Report\nMaiden Contingent Resource and NPV Estimate\nRose Petroleum plc (AIM: ROSE), the North America-focused oil and gas company, is pleased to announce the results of the Competent Person's Report (\"CPR\") by Gaffney Cline & Associates (\"GCA\") on the Rose acreage within the Paradox Basin, Utah covered by the recently completed 3D seismic acquisition.\n \nRose engaged GCA to provide a CPR for the acreage held and covered by the 3D seismic acquisition completed in late 2017 (covering approx. 17,250 acres of the total circa. 80,000 acres held). The CPR focused solely on the single reservoir the Cane Creek reservoir (the \"CCR\" or \"Clastic 21\") of the multiple prospective reservoirs within the Paradox Formation.\n \nRose is pleased to report the results of the GCA report as summarised below:\n \nSummary of Contingent Resources as at 30th April 2018:\n \n\n\n\n\nCategory\n\n\nGross\n\n\nGross\n\n\nNet to Rose***\n\n\nNet to Rose***\n\n\n\n\n \n\n\nOil (MMBbl)*\n\n\nGas (Bscf)**\n\n\nOil (MMBbl)\n\n\nGas (Bscf)\n\n\n\n\n1C\n\n\n5.08\n\n\n6.09\n\n\n3.01\n\n\n3.61\n\n\n\n\n2C\n\n\n15.61\n\n\n31.23\n\n\n9.25\n\n\n18.50\n\n\n\n\n3C\n\n\n31.49\n\n\n110.20\n\n\n18.66\n\n\n65.29\n\n\n\n\n \n * million barrels of oil ** Billion cubic feet ***Net of 25% working interest plus royalties and subject to earn-in completion\n \nThe unrisked Net Present Value at 10% Discounted Rate of Potential Future Cash Flow from Contingent Resources, Net to Rose, as at 30th April 2018, are reported as follows:\n \n\n\n\n\nCategory\n\n\nPre Tax NPV\n(US$ MM)\n\n\nPost Tax NPV\n(US$ MM)\n\n\n\n\n1C\n\n\n6.7\n\n\n2.5\n\n\n\n\n2C\n\n\n122.4\n\n\n86.9\n\n\n\n\n3C\n\n\n335.3\n\n\n242.8\n\n\n\n\n \n \nThis Contingent Resource, subcategorised as Development Pending, is a significa...