StockMarketWire.com - Rose Petroleum said it had acquired new acreage in Utah immediately adjoining its Gunnison Valley asset in the Paradox Basin.

The company, along with joint venture partner Rockies Standard Oil Company, acquired the acreage via the December 2018 Bureau of Land Management Utah lease sale.

The deals resulted in the company acquiring a 75% working interest in an additional 1,920 gross acres.

It was acquired for $35k, which Rose said represented an 'exceptionally low' acquisition price per net barrel of oil equivalent of $0.03.


At 9:21am: [LON:ROSE] Rose Petroleum Plc share price was 0p at 2.75p



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