Rose Petroleum recovers MX$6.01m from Mexico tax authority

Rose Petroleum received a total of MX$6.01m from the Mexican tax authority (SAT) during March 2017, in relation to its recovery of substantial value-added tax owed to it by that organisation.

This amount was significantly more than the MX$4.2m that Rose Petroleum had anticipated receiving.

It continued to seek the recovery of the remaining MX$10.5m owed to it by SAT.

Chief executive Matthew Idiens said he was encouraged by the scale of the funds received back from the Mexican authorities.

"We continue to work on recovering the outstanding balance as we work on building our cash reserves ahead of the upcoming work programme," he said.

At 13:08 GMT, shares in AIM-quoted Rose Petroleum were up 8% to 0.14p each.