TPI provides its latest research note on Rose Petroleum plc (ROSE.L).

Rose yesterday published its full-year 2019 results and provided notice of its 29th July 2020 AGM, at which it proposes to change the Group’s name to Zephyr Energy plc (‘Zephyr’).

This completes a rebranding exercise following a transformative 2019, as a result of which the Group now presents itself as a low-overhead, unlevered and value-focused vehicle with a management team equipped to deliver on its ambitious objectives.

Post-year-end, Rose successfully extended its option to acquire a working interest in the 317-acre Denver-Julesburg Basin (‘DJ Basin’) McCoy lease(the ‘Acquisition’), while also recognising the recent energy market turmoil is presenting it with ‘multiple attractive’ investment opportunities in search of which it is now engaged with both industry and financial partners to identify value targets which might be added to its portfolio.

Read More RosePetroleumplc_ResearchUpdate_1July2020__FINAL_BGv2.pdf

We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Rose Petroleum plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.

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