June 28, 2019 / 10:20 AM / 3 months ago

BUZZ-Rose Petroleum: Jumps as FY loss narrows on lower costs

** Shares of diversified oil and gas firm rise 27.2% to 1.4 pence

** Co says FY net loss after tax from continuing operations reduces to $0.8 mln from $3.5 mln a year ago

** Due to co’s ongoing cash conservation programme, administrative costs for the year were $1.6 mln, lower than $2.1 mln last year

** Co says CEO Matthew Idiens to step down, oil and gas veteran Rick Grant joins as a non-executive board member

** Shares down 36.6% so far this year (Reporting by Justin George Varghese in Bengaluru)

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