Rose Petroleum Confirms Weiden Basin License

Junior explorer Rose Petroleum confirmed Wednesday that its acquisition of a license covering 657,000 acres in the Weiden Basin in Bavaria, southeast Germany is now complete. The firm said that the statutory period for legal challenges against the award of the license to Rose has now expired.

The license period began on February 1 2014 for an initial period of three years. Its terms oblige Rose to carry out a program of works over a three-year period to include 2D seismic and geophysical measurements designed to create a geological model of the area at an estimated cost of approximately $1.2 million.

Rose CEO Matthew Idiens commented in a company statement:

"Rose is actively progressing the project and has identified the present holders of both the 2D seismic data and also core from the Weiden-1 well, which we plan to re-analyze. Beyond Germany, we are working on additional projects and look forward to being able to update the market at the appropriate time."

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Logistics Coordinator & Optimization Analyst
Expertise: Logistics Management
Location: Billings, MT
Associate Category Manager or Category Manager Job
Expertise: Logistics Management|Purchasing|Supply Chain Management
Location: Denver, CO
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours