Rose Petroleum plc

Acquisition of additional acreage in Eastern Utah and Total voting rights


Rose announces the acquisition of further acreage within its Mancos development area and Gunnison Valley unit.

Rose Petroleum plc, the AIM-listed (Ticker: ROSE) natural resources company, is pleased to announce that its wholly owned subsidiary Rose Petroleum (Utah) LLC. has acquired an additional 4,004.83 gross acres from the State of Utah and private owners within its Mancos development area as well as 657.83 gross acres in its Gunnison Valley Unit in the Paradox development area, Eastern Utah. Total cost paid for the leases was $188,024.09 representing an average cost per acre of $40.33.

Rose's independent consultant, Ryder Scott Company ("RSC"), is currently in the process of updating the resource estimates for the Mancos following Rose's recent Cisco acquisition and this additional acreage will now be included as part of that. Rose will announce the details of this update once it has been completed.

In May 2014, RSC stated that the Unrisked Prospective (Recoverable) Hydrocarbon Resources on a Best Case (P50 equivalent) basis for the collective total Mancos Shale and Paradox Formation combined was 1,452.86 MMBO (million barrels of oil) and 4,791.85 BCFG (billion cubic feet gas).

Group CEO Matthew Idiens commented: "We are pleased to be able to consolidate our land position further in the Unita basin ahead of spudding our first Mancos well, which I am happy to report remains on track for ahead of year end. The initial well location has been selected and permitting is well underway."

Total voting rights

The Company announces that its issued share capital as at the date of this announcement consists of 1,310,185,133 ordinary shares of 0.1p each with one voting right per share. The Company does not hold any shares in treasury. Therefore the total number of Ordinary Shares and voting rights in the Company is 1,310,185,133.

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.