13th Apr 2016 14:52
LONDON (Alliance News) - Rose Petroleum PLC on Wednesday noted the "significant rise" in its share price since Monday, and said, while it was investigating various opportunities and additional projects, no negotiations have been concluded.
The US-focused oil and gas company was trading down 14% at 0.202 pence on Wednesday, having risen to a six-month high of 0.34 pence earlier in the day.
Rose said it was looking into opportunities across different sectors and geographies, which would provide additional projects alongside its current hydrocarbon and metals activities, as well as funding for those projects.
Rose added it was also reviewing its current asset base.
However, Rose said no negotiations have been concluded at this time and there "can be no guarantee that any of these matters will proceed".
"The company also notes the recent increase in crude oil prices, but otherwise is unaware of any reason for its recent share price movement," Rose said in a statement.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Rosebank