Rose Petroleum PLC Update on SDA Mill disposal (1512V)

TIDMROSE

RNS Number : 1512V

Rose Petroleum PLC

31 October 2017

31 October 2017

Rose Petroleum plc

("Rose", the "Company" or the "Group")

Update on SDA Mill disposal

Further to its announcement on 11 September 2017, Rose (AIM: ROSE), the AIM quoted natural resources business, is pleased to provide an update on the process to dispose of the Company's mineral processing mill operation in San Dieguito de Arriba, Mexico and its associated assets, licenses and agreements (together, the "SDA Mill") to Magellan Gold Corporation (OTCQB: MAGE) ("Magellan").

The disposal process is now in its final stages and the Board has no reason to believe that that the transaction will not be completed in the coming weeks. The key steps in the disposal process have been completed and the Company is now focused on closing out the final administrative procedures necessary to facilitate the disposal.

The Company is working with Magellan to ensure that completion of the disposal can take place as quickly as possible after the final matters have been completed.

The Company will make further announcements on the disposal process as necessary and when it has completed.

Enquiries:

 
                         Rose Petroleum    Tel: +44 (0) 
                          plc               20 7225 4595 
 Matthew Idiens (CEO)                       Tel: +44 (0) 
  Chris Eadie (CFO)                         20 7225 4599 
----------------------  ----------------  --------------- 
 Jeremy Porter / James   Allenby Capital   Tel: +44 (0) 
  Reeve / Liz Kirchner    Limited           20 3328 5656 
 Andy Thacker            Turner Pope       Tel: +44 (0)20 
                          Investments       3621 4120 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 31, 2017 11:52 ET (15:52 GMT)