Rose Petroleum PLC Update on Paradox Basin permitting process (7659Y)

TIDMROSE

RNS Number : 7659Y

Rose Petroleum PLC

07 March 2017

Dissemination of a regulatory announcement that contains inside information according to regulation (EU) no. 596/2014 ("MAR").

7 March 2017

Rose Petroleum plc

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

Update on Paradox Basin permitting process

Rose (AIM: ROSE), the AIM quoted natural resources business, is pleased to announce an update on the permitting process for its proposed 3D seismic survey in the Paradox Basin, Utah.

The Company has been informed that the Bureau of Land Management ("BLM") has accepted its Environmental Assessment Study ("EA") that supports its permit application and the 15 day public consultation period for the permit has now formally begun.

Following completion of the public consultation period, there will be a period of response to any questions raised by the public, following which the application will be put forward for final approval. If this process is successful, the Company now expects to receive the permit by the end of May 2017.

Matthew Idiens, CEO, commented: "The acceptance of the EA by the BLM and the commencement of the public consultation period is a major milestone in the permitting process and we understand this means the BLM believes all relevant issues have now been addressed to allow the permitting process to advance to final approval.

We look forward to receiving the final permit and commencing the physical shoot in H2 2017".

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 
 James Pope / Ben        Turner Pope       Tel: +44 (0)20 
  Turner                  Investments       3621 4120 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 07, 2017 08:38 ET (13:38 GMT)