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Rose Petroleum completes Weiden Basin hydrocarbon licence deal


Published Mar 14, 2014
Rose Petroleum plc

Rose Petroleum announce that the statutory period for legal challenges against the Company's licence in the Weiden Basin, Germany ('Licence') has now expired. No legal challenges to the Licence were registered. Further details on the Licence, which is held through the Company's wholly owned subsidiary Naab Energie GmbH, are contained in the Company's announcement on 31 January 2014.

The Weiden Basin is a sedimentary basin, located in southeastern Germany, containing up to 2800 metres of Upper Carboniferous-Lower Permian fluvial-lacustrine sediments, including black shales, coal beds and sandstones. In 1989, the Weiden-1 geothermal well was drilled by the municipality of Weiden and, following analysis, indicated the presence of oil in the Permian sandstones. A core, bleeding of oil, was recovered from the well.

Tags: Rose Petroleum plc




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