Red Emperor Resources (RMP) is an ASX and AIM listed natural resources exploration company
with interests in the frontier state of Puntland, Somalia and the Republic of
Georgia.

* In Puntland, Red Emperor holds a 20% working interest in two licences
encompassing the highly prospective Dharoor and Nugaal valleys. These two
exploration areas cover over 36,000km2. The first well in a two well
programme spudded with drilling also commenced on the second well in
January 2012 targeting 300mmbls and 375mmbbls of best estimate Prospective
Resources (100% basis). Site construction has commenced on the second well
with the setting of the 30 inch surface casing and the drilling of a 50
meter pilot hole in readiness for spudding following the completion of the
first well.

* In the Republic of Georgia, Red Emperor has a 20% working interest in
onshore blocks VIa and VIb, covering approx. 6,500km2. Joint Venture
partner Range Resources Limited (ASX: RRS | AIM: RRL) previously funded a
410km 2D seismic program with independent consultants RPS Energy
identifying 68 potential structures containing an estimated 2.045 billion
barrels of oilinplace (on a mean 100% basis) with the first (Mukhiani-1)
of two exploration wells having spudded in July in 2011. Re-interpreted
seismic supported by the Mukhiani-1 vertical seismic profiling has
identified new fault and stratigraphic trapping potential with the
possibility of a side track well to be drilled post additional seismic in
2H 2012.



As at 8th March 2012, the Company has 206,681,755 ordinary
shares in issue. The Company holds no shares in treasury and each share carries
one vote. This figure may be used by shareholders in the Company as the
denominator for calculations by which they will determine if they are required
to notify their interest in, or a change to their interest, under the
Disclosure and Transparency Rules.

excellent - blue here & rrl
results due here before month end - glad in prior to results and not after!!

should be positive given geos & history of targets

very likely to be more good news for dc''s return

gla

what a good day - strong buying

more like this tomorrow pls!!

steady day - not too bad!!!
gla

another good day

i would not wanna be outta rmp this weekend!!!

gla

24p breached next stop 25p ultimate 28p!!!+
yeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaa

satisfactory day at the office
sp stifled a bit by usual friday profit taking - good luck to those taking profits i'm waiting for the big deal
but nicely blue again - should continue north next week in preparatiion of rns
i would not wanna be outta rmp or rrl this weekend
gla

Monday 12 September, 2011Red Emperor Resources NL
Georgian Drilling Update

12 September 2011

Red Emperor Resources NL

("Red Emperor" or "the Company")

Georgian Drilling Update

Red Emperor Resources NL (ASX: RMP | AIM: RMP) along with its joint venture
partners Strait Oil and Gas UK Ltd and Range Resources Limited is pleased to
announce that following the successful setting of casing to 700m and the
installation of the blowout preventer ("BOP") drilling has recommenced and is
currently at 1,339m.

Drilling with continue to approximately 2,500m at which point 9 5/8" casing
will be set before drilling will recommence out to a target total depth of
approximately 3,500m, which is expected to be reached in late September.

The Mukhiani Well is targeting the Vani 3 prospect which has the following
estimated undiscovered stock tank oil-in-place ("STOIIP"):

Vani 3 Prospect - STOIIP (MMbbls)

P90 P50 P10 Mean

Gross (100%) 41.7 92.7 178.2 115.2

Net Attributable to RMP (20%) 8.3 18.5 35.6 23.0

The geochemical helium survey undertaken by JV partner, Range Resources,
confirmed the suitability of the first drill location with oil exploration and
development prospectivity complementing the earlier seismic work completed on
the target.

For further information please visit www.redemperorresources.com or contact:

Red Emperor
Greg Bandy +61 8 9225 2826

Cairn Financial Advisers LLP (Nominated Adviser)
Jo Turner +44 20 7148 7900
Tony Rawlinson

Old Park Lane Capital plc (Broker)
Luca Tenuta +44 20 7493 8188
Michael Parnes

Tavistock Communications
Paul Youens +44 20 7920 3150
Ed Portman


Background

Red Emperor Resources NL (ASX: RMP) is a natural resources exploration company
with interests in the frontier state of Puntland, Somalia, the Republic of
Georgia and Western Australia.

* In Puntland, Red Emperor holds a 20% working interest in two licences
encompassing the highly prospective Dharoor and Nugaal valleys. These two
exploration areas cover nearly 36,000km2 and have independently been
assessed to potentially contain a combined 19 billion barrels of oil
in-place. Red Emperor's joint venture partner and PSA operator Africa Oil
Corp. (TSXV: AOI) has signed a letter of intent with a drilling
subcontractor and expects the first well to be drilled in Dharoor in Q4,
2011.

* In the Republic of Georgia, Red Emperor has a 20% working interest in
onshore blocks VIa and VIb, covering approx. 6,500km2. Joint Venture
partner Range Resources Limited (ASX: RRS | AIM: RRL) last year funded a
410km 2D seismic program with independent consultants RPS Energy
identifying 68 potential structures containing an estimated 2.045 billion
barrels of oil-in-place (on a mean 100% basis). Two wells are to be drilled
this year as part of the proposed drill program.

* The Company also has a 25% interest in the Jillewarra Project, a copper and
gold project in Western Australia. This interest is free carried through
until bankable feasibility study,

Tue Sep 13, 2011 3:20 pm

http://somaliareport.com/index.php/post/1560/Puntland_Oil_Drilling_to_Begin_Soon


Africa Oil Corp. is expected to begin drilling its first oil well in Puntland, where there are believed to be billions of barrels of recoverable oil, either this month or in October, senior Puntland government officials told Somalia Report.

Insiders say the plan was to spud the first well in July, but the deadline was pushed back.

The Puntland government and Africa Oil have reached a comprehensive agreement to start oil extraction activity soon, a source close to the president, who requested anonymity, told Somalia Report. The terms of the contract imply work will likely start in September or October.

He said that oil workers from the company were awaiting the delivery of the final batch of equipment that would allow drilling to commence.

According to Africa Oil's website, the company along with its partners Range Resources and Red Emperor Resources - holds two blocks in Puntland: the Nugaal Block and the Dharoor Block. In a statement on September 6, the company revealed that a resource report prepared by Petrotech Engineering Limited indicated a gross best estimate of recoverable oil in the Dharoor Valley and Nugaal Valley blocks in excess of 5.2 billion barrels of oil. For the full details of the resource report click here.

The company earlier said the two basins are expected to deliver similar yields to the Marib-Shabwa and Sayun-asila Basins in Yemen, as they were contiguous before the Gulf of Aden opened up. Oil production in Yemen, which comes largely from the two basins, has declined to around 260,000 barrels per day since it began production in the mid-1980s, making it a small oil producer. Africas largest producers Nigeria, Tunisia and Angola pump around or over two million barrels per day.

Africa Oil Corp is in the process of transferring its Puntland operations (through its subsidiary Canmex, which holds a 60% participating interest in each of the blocks) to Denovo Capital Corp. through a share exchange agreement. Denovo will be renamed Horn Petroleum Corporation, and just short of 28 million shares in the new company will be transferred to Africa Oil Corp. as part of the deal.

For the full ins-and-outs of the complex deal, click here and here.

Red Emperor Resources and Range Resources hold a 20% interest each in the two blocks, and they say that drilling is to take place in the first prospect - Shabeel-1, which is estimated to have over 300 million barrel of recoverable oil - in the fourth quarter.

Sakson Drilling and Oil Services are supplying a 1,500 horse power, top-drive drilling rig to drill two exploration wells.

Security Concerns

Africa Oil, in its company profile, laid out the problems it had faced and would face in actually extracting the oil including issues over security, rights and border disputes.

One possible immediate concern is that of security threats in Puntland, which has become increasingly restive this year. There have been clashes with militia purported to be linked to al-Shabaab, battles with and between clan militias, and a campaign of assassinations. In July this year, a convoy carrying Africa Oil Corp. executives came under fire from a militia allegedly angry they were not being consulted on the oil exploration, and concerned they would not get a fair deal.

This has been a concern in several African oil-producing countries, particularly in Nigeria, where the Movement for the Emancipation of the Niger Delta conducted years of deadly sabotage, cutting the West African nations oil output by over a quarter at one point.

Local sources say Inna Aloore, a former Puntland Intelligence Services officer, was behind the stirring up of the clan militia in Dharoor Valley, while the threat of al-Shabaab could grow given the groups financial and military problems in southern and central Somalia.

http://redemperorresources.com/irm/ShowStaticCategory.aspx?CategoryID=24&HideTopLine=True&masterpage=5

http://redemperorresources.com/irm/ShowStaticCategory.aspx?CategoryID=24&HideTopLine=True&masterpage=5

Good positive rise today -


21.75

+1.25 (+6.10%)

http://redemperorresources.com/irm/ShowStaticCategory.aspx?CategoryID=24&HideTopLine=True&masterpage=5

hi dc - hope you had a good holiday - it went well here while you were away then not so good this week - i am very confident here and happy to wait but good end to the week - good posts - cheers

Good to hear from you gibby, great holiday. Should get back to 30p may be end of next week. Lets hope the shares are running tight for the mm's, then we know what that means?

i do indeed dc - it means ...... kerrrrrrrrrchinnnnnnnnnnnggggggggg!!! :-0

gibby when will you sell. Got the feeling if we hit, they will raise funds with the sp much higher. Do not know if there will be much of a sp fall. There normally is ? Or sit tight for puntland. Hmmmm

i am in no hurry to sell right now - i am actually looking for more and to buy on any weakness - i nearly sold the lot last week to buy back lower (wish i did now!!) but i could not risk not being in - i am quite a patient person so can wait - but if there is a sudden spike on news or rumour of i may well sell to buy more back at lower sp - i am static right now

i really like the low relative volume of shares here

For rmp's sp to rise 1p the company valuation only needs to rise 1.5 million, less than 10 times rrls, thats what i like. My average is 22.7p. May have a few more next week.