Rose Petroleum (ROSE) has had a rather interesting year so far in bringing in new capital and senior management. RNS statements caused real concern earlier this year, as Tom noted. What caught my eye was just how close the company came to having David Sefton and James Berwick sat on the board. As Tom discusses today, given what has happened at Anglo African Oil and Gas (AAOG) it is perhaps very fortunate for Rose shareholders this plan fell apart!
On 11 April Rose Petroleum (ROSE) announced that Mr Robert Bensh was buying £275,000 of shares in the company at 1.1p to take a 14% stake and would become chairman with immediate effect. Er….
Rose Petroleum (ROSE) has updated the market with news of a £0.275 million fundraise at 1.1p per share from Robert Bensh and that Bensh has joined as Executive Chairman…this is a surprise but a welcome one.
Rose Petroleum (ROSE) has updated including that obtaining a farm-in / funding commitment for its Paradox Basin, USA acreage on appropriate terms is taking longer than anticipated, but also proposed new board appointees “acutely aware that time is of the essence and look forward to updating shareholders in the very near future”…
Rose Petroleum (ROSE) “is pleased to announce” successful participation in a Bureau of Land Management Utah lease sale – acquiring a 75% working interest in an additional 1,260 net acres immediately adjoining its Gunnison Valley Unit acreage in the Paradox Basin, USA…
Rose Petroleum (ROSE) has updated on a ‘Fracture Characterisation Study’ undertaken by Schlumberger, including that “it reinforces the assessment of the Clastic 21 reservoir as a naturally fractured reservoir and illustrates the value of drilling the 22-1 well”…
Rose Petroleum (ROSE) is “pleased” to have agreed a revised operations plan – this allowing it to drill its highest-ranked target first…
Half-year results from Rose Petroleum (ROSE) saw it concluding “the board is looking ahead with confidence and is excited about the group moving from being an oil explorer to an oil producer in the next quarter”. The shares responded higher, but at still little more than a £5 million market cap we see much more excitement to come…
A colleague of Chris Eadie's came to see me in Bristol a few months ago arriving by motorbike. But Mr Eadie also explains the new Rose Petroleum (ROSE) case well.
Every piece of Turkish has its day and shares in dog with fleas Rose Petroleum (ROSE) jumped yesterday prompting a statement from the company that is truly laughable.
Rose Petroleum (ROSE) must by now be pretty close to running out of money and as such the only two questions are: when does it plan a deeply discounted placing and can it get one away at all? Either way it looks grim for its long suffering shareholders.
Last week I forced a statement out of Rose Petroleum (ROSE) after stating HERE that it was seeking to raise £3 million at 0.3p - the shares were then 0.6p. Rose, pathetically, said that it was looking to raise £3-5 million but denied that any price had been set. Well Gotcha fellows.
Four bullish announcements since the start of March have not steadied the share price of Rose Petroleum(ROSE). The stock was at 4p less than nine months ago, well over 3 million quid was raised at 1.75p in December 2014 but desopite the PR puffery the shares are now just 0.6p to sell. But worse is to come for the company which is now valued (if not worth) 9.44 million pounds.
Today I update my call on Rose Petroleum (ROSE) made in early July where I expected 3.5p to be hit within 5 months. It has been less than 1 month and that point was smashed through last week. Rose now stands at 4.15p against my share tip of 2.25p so there has been a whopping 84% gain.
Today I evaluate the investment case for Rose Petroleum (ROSE), even though several of my colleagues have already put forward my thoughts. Rose is an oddity on aim because it has both mining and oil and gas assets
After Rose Petroleum’s (ROSE) recent dodgy placement (which, yes, I do believe the charts strongly suggest was forward sold by some), I wanted to take a closer look at the company. At the weekend, my colleague Chris Oil drew a furious response on Twitter after he wrote this piece, suggesting Rose was a short. Thankfully not all of the comments were moronic abuse, and reader Scott Winter submitted this riposte to Chris, in defence of the company’s prospects. Now valued at £30.7million, with a share price of 2.35p (last seen), I have to admit I lean more towards Chris’ assessment of the company, but accept that Scott could be proven right first. The passionate following behind Rose certainly looks an indicator of further share price gains to come and 4p is as good a target as any. However, it would a mistake to view such a move as being driven by anything other than sentiment and certainly not sound fundamentals.
There were two interesting articles on Rose Petroleum (ROSE) written by Chris Oil this weekend that caught the attention of many retail investors. Chris has made some great calls recently, most notably Hurricane Oil (HUR) which has risen over 50% since his tip at 27.5p. Anyone following Chris’ advice would be reaping some healthy gains. However I think Chris has got his calls on Rose wrong. I am greatful to Tom Winnifrith for - in the interests of balance - allowing me to put the alternative point of view.
Since my last article on Rose Petroleum (ROSE) I have received a barrage of abuse and even threats from shareholders who disagree with my stance. If they think I am wrong they should buy more and if I am wrong they will make money. If I am right they will lose more. Ultimately it is fundamentals that determine a share price not articles in the press.
Following an AGM on Friday 434 million new shares in Rose Petroleum (ROSE) (33% of the enlarged share capital) will be issued on Monday. Ben Turney explained this shocking state of affairs HERE. Some mug punters seem to read a few things on charts and reckon that the shares – now 2.28p – could hit 4p. Nonsense, they are a sell with a 1.6p target. Here’s why.
Rose Petroleum’s (ROSE) £6.5million placement on Friday has a distinct whiff about it. It is true that Rose’s share price has performed admirably over the last twelve months, so I doubt many longer term shareholders will be concerned about what’s happened. Even so, the rationale for the 1.5p price of the placement and the exclusion of existing shareholders from the deal doesn’t feel right. The nosedive Rose’s share price took in the fortnight before the placement just stinks outright.
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