Rose Petroleum plc

Drilling contractor agreement signed

27-November-2014

Rose Petroleum (Utah) LLC has signed a drilling rig contract with Beeman Drilling Services Inc.

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 signed a drilling rig contract with Beeman Drilling Services Inc., located out of Moab, Utah.

The rig will be used at Rose's initial Uinta basin location, State 1-34 well, targeting the Mancos shale and testing a deeper conventional target. The rig, which is a Couper 550 rig, has a 300,000lbs hook load capacity from the derrick and is equipped with 2 x 800hhp pumps. The rig is expected to be mobilised in mid- December.

Matthew Idiens, Group CEO, commented: "The signing of the drilling contract is yet another step closer to the spudding of our first well. We are now only awaiting the final permit approval and are working closely with the State to achieve this within the desired timeline."