StockMarketWire.com – Rose Petroleum, the AIM-listed natural resources company, has been granted a new concession covering circa 657,000 acres in the Weiden Basin, Bavaria, for hydrocarbon exploration.

The Licence begins Feb. 1 for an initial period of three years. The terms obligate Rose to carry out a programme of works over a three- year period to include 2D seismic and geophysical measurements designed to create a geological model of the licence area at an estimated cost of about 0.9m euros.

Separately, Rose said directors Steven Van Nort and L. Clark Arnold have resigned.

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