Rose Petroleum provides an operational update on activities within its highly prospective Uinta Basin acreage in Utah, in which it has a 75% working interest, and where the Company's primary target is the Mancos Shale.
•Core results to date from the Mancos Shale formation reconfirm the area's prospectivity and have provided the Company with the positive technical data it hoped for - full core analysis results on track for Q2 2015
•Positive steps taken towards gaining permits for six new Mancos wells with a focus on submitting the 'final authority to drill plan' to the Bureau of Land Management ('BLM') in late May 2015
◦HRL Compliance Solutions and Uintah Engineering have completed the internal location site evaluation, with no red flags, in consideration of the Environmental Assessment ('EA') requirements and are in various stages of finishing reports to submit to the BLM
◦Subject to timely provision of permits, the Company anticipates commencing drilling the first of these new wells in late 2015