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Rose Petroleum : Issue of equity under farm-in agreement


Published Oct 22, 2014
Rose Petroleum plc-3

Rose Petroleum has signed an agreement with Rockies Standard Oil Company, LLC. (RSOC) whereby RSOC has requested and Rose has agreed to issue ordinary shares of 0.1p in Rose (Ordinary Shares) in respect of certain amounts of the periodic cash payments due under the original farm-in agreement with RSOC announced on 17 March 2014 (the “Farm-in Agreement”) up to a maximum of US$700,000.

Group CEO Matthew Idiens commented: “We are pleased to enter into this agreement with RSOC as it represents a significant show of confidence in Rose and, of course, the project going forward and frees up further cash to be invested directly in the Project.”

Tags: Rose Petroleum plc




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