Business
Oil & Gas operations update and Technical Team
Oil & Gas operations update and Technical Team.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6487R Rose Petroleum PLC 15 September 2014 \n \n\nRose Petroleum plc (AIM: ROSE)\n(\"Rose\" or the \"Company\")\nOil & Gas operations update and Technical Team appointments \nRose Petroleum (AIM: Rose), the AIM-listed natural resources company, is pleased to announce theprogress it is making with its initial phase of development in both the Paradox and Mancos project areas and that these are proceeding very much in accordance with Rose's development plan.\nParadox Operations\nThe final design of a 61 square mile 3D seismic survey has been completed and Dawson Geophysical Company has been awarded the acquisition phase of the seismic programme. The Notice of Intent for the 3D has been filed with the Bureau of Land Management (BLM) and the permitting process is underway. \nThe completion design of the 16-42 Shut in Paradox well in the Gunnison Valley Unit is being finalised and contractors are being secured for the completion of this well, which is anticipated to take place in Q4 this year.\nMancos Operations\nThe location of the initial Mancos well has been selected with the use of 2D seismic and well control from surrounding data. The drilling contractor for this well is being secured with a spud date scheduled Q4 this year. \nLastly, as identified during the Company's recent fundraising, further details of which were announced on 20 June 2014, Rose is continuing to evaluate a potential strategic acquisition for which the due diligence phase is underway. This potential acquisition, which will be funded out of the proceeds of the Company's fundraising in June 2014, is in the Mancos project area and, should the board determine that it would be in the interests of shareholders to do so, Rose anticipates closing this during Q4 2014. Further details will be announced at the appropriate time. \nTechnical Team Appointments\nRose has completed the initial phase of hiring for its US Oil & Gas technical team with the appointments of David Patterson as Vice President of Geology and Savilla Cribbs, Geological and Engineering Technician. Both have already started at Rose's new Denver office.\nDavid is an exploration manager and geoscientist with 32 years of experience. His experience covers the full spectrum of disciplines in unconventional and conventional oil & gas exploration. He joins ...