The Company has been building an integrated North American Oil and Gas portfolio, which fully utilises its ambitious and talented team of both industry and financial experts.


  • Raised capital to pursue new oil & gas assets
  • Appointed new management and technical team


  • Acquired three oil & gas licences in Germany
  • Acquired a right to earn a 75% working interest in 230,000 net acre oil & gas project in Utah, USA, split between two basins, Mancos (Uinta) and Paradox
  • Acquired Cisco Dome gas project and infrastructure to accompany and support the Mancos acreage
  • Commenced permitting for 3D seismic shoot in Paradox
  • Signed option and JV agreement on Tango Porphyry Copper and Molybdenum targets


  • Undertook small work over programme on existing 16-42 well in Paradox acreage to potentially test upper levels - halted due to technical complications down hole
  • Tested low capex Mancos acreage by drilling new 1-34 well - results provided encouraging core results but insufficient pressure due to shallow depth and excess water for commercial development


  • Permitting 61 square mile 3D seismic shoot in Paradox Basin
  • Relinquished Mancos acreage, including Cisco Dome, to focus on more prospective Paradox acreage
  • Earth Source LLC invested US$1.2m in Rose to pursue opportunities in Cuba
  • Agreement with Burdett Gold LLC on Ardent Porphyry copper


  • Completed disposal of SDA Mill for US$1.5m total consideration
  • Permits granted for 3D seismic shoot in Paradox Basin
  • Engaged Technical team with significant basin specific experience
  • Optimised 3D seismic shoot to 40sq mile area
  • Successful fundraise completed for 3D seismic shoot in Paradox Basin
  • 3D seismic shoot completed ahead of schedule and under budget
  • Clean up and Processing 3D seismic Data


  • Initial interpretation and analysis of seismic data completed and multiple drill targets identified
  • Location of first well selected
  • Commenced Paradox permitting process for drill site
  • Increased acreage in Paradox Basin, with 75% working interest in additional 3,320 gross acres
  • Highly experienced subsurface and surface operations team assembled
  • CPR report shows scale and prospectivity of the Paradox project
  • Finalised Paradox drill targets
  • Sale of non-core asset through database agreement on uranium exploration projects in U.S.A
  • Completed Paradox permitting process for drill site
  • Agreed updated operational plan with BLM to include additional acreage


  • Detailed analysis by Schlumberger illustrates the value of drilling the 22-1 well
  • Increased acreage in Paradox Basin, with 75% working interest in additional 1,920 gross acres
  • Drilling permit for GVU 29-1 well approved, providing options for multi-drilling programme
  • Proposed board changes to bring in experienced directors to assist in execution of strategy

The Future

core milestones

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