Rose Petroleum is pleased to provide an operational update on the current activities taking place within both its oil and gas and mining divisions.

Oil & Gas highlights (USA) •State 1-34 Mancos Well, Uinta Basin, Utah ◦Successfully drilled well to 3,200 feet (ft) total depth (TD) and ran production casing to TD ◦Mud logs indicate presence of oil & gas throughout both the Mancos Shale ("Mancos") and several of the deeper conventional reservoirs below the Mancos ◦84ft of potential net oil pay in the conventional reservoirs below the Mancos across a 600ft total interval ◦Two whole cores were cut in the Mancos which are currently being analysed ◦Additionally, 50 rotary sidewall cores were taken based on the open hole logs and mud log which are also currently being analysed ◦Plan to complete the conventional reservoirs while waiting on the Mancos core analysis and will then prepare to drill a horizontal lateral well in the Mancos

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