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.

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.

ditto that - yep lets see what the week brungs - i wonder how many have missed the low volume shares in circulation - perversely most likely more upside here than rrl - but i like them both!!!! gl

sorry typo bot brungs but brings :-)

sorry typo bot brungs but brings :-)

http://www.google.co.uk//finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1316370314694&chddm=30149&chls=IntervalBasedLine&cmpto=LON:RRL&cmptdms=0&q=LON:RMP&

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

steady as she goes!! gl

Nice and steady,starting to move now.

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