Rose Petroleum plc appointed David Patterson as Vice President of Geology. David joins Rose from Ultra Petroleum where he managed the geoscience staff for ongoing company operated and non-operated drilling and completions.

The company announced the progress it is making with its initial phase of development in both the Paradox and Mancos project areas and that these are proceeding very much in accordance with Rose's development plan. Paradox Operations: The final design of a 61 square mile 3D seismic survey has been completed and Dawson Geophysical Company has been awarded the acquisition phase of the seismic programme. The Notice of Intent for the 3D has been filed with the Bureau of Land Management (BLM) and the permitting process is underway. The completion design of the 16-42 Shut in Paradox well in the Gunnison Valley Unit is being finalised and contractors are being secured for the completion of this well, which is anticipated to take place in fourth quarter of the year 2014. Mancos Operations: The location of the initial Mancos well has been selected with the use of 2D seismic and well control from surrounding data. The drilling contractor for this well is being secured with a spud date scheduled fourth quarter of the year 2014. Lastly, as identified during the company's recent fundraising, further details of which were announced on 20 June 2014, Rose is continuing to evaluate a potential strategic acquisition for which the due diligence phase is underway. This potential acquisition, which will be funded out of the proceeds of the company's fundraising in June 2014, is in the Mancos project area and, should the board determine that it would be in the interests of shareholders to do so, Rose anticipates closing this during fourth quarter of the year 2014.