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.

Monday 10 October, 2011Red Emperor Resources NL
Georgian Drilling Update

10 October 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 (ASX: RRS | AIM:
RRL) advises that the Mukhiani Well has been drilled to the intermediate depth
of 1544 meters with a proposed total depth of 3500 meters.

Drilling operations are continuing after a short interruption to undertake a
comprehensive data collection program for close analysis. The analysis is
deemed prudent to determine if the well has reached the Paleozoic granite
basement or is drilling through a sub-volcanic intrusive which is masking the
targeted primary reservoir objective at a depth of about 2300m as interpreted
from the helium survey and exists with other similar discoveries found under
sub-volcanic intrusives. An additional factor for undertaking the analysis is
the slow drilling rates that are being achieved through the highly variable
intrusive complex.

A full suite of wireline logs has been successfully recorded. Additional
valuable information has been obtained through the successful collection of 10
sidewall cores from critical intervals. Preparations are underway for cutting a
full diameter conventional core within the nearest future. Once the coring
program is completed, a Vertical Seismic Profile (VSP) survey will be run.

The new data will then be integrated into the full data set and the subsurface
situation reinterpreted as appropriate. This reinterpretation will then be used
to determine the next steps for the well depending on the progress of the well
at that point in time. The VSP survey will be undertaken in approximately 10 to
14 days.

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,

Shares in Red Emperor Resources (LON:RMP, ASX:RMP) are 'oversold' after a 9.94 per cent fall in today's trading, according to City broker Old Park Lane Capital.

This morning the recently listed oil junior revealed that work had paused on the Mukhiani well, which is being drilled through a joint venture that also includes Range Resources (LON:RRL, ASX:RRS), in the Republic of Georgia.

It said that after a short data gathering exercise drilling has now restarted.

In a note to clients, analyst Barney Gray pointed out that the news had caused a significant impact on the firm's shares - they fell 9.94 per cent to trade at 19.25 pence.

However Gray reckons this was an over-reaction as he highlighted that Red Emperors contribution to the cost of the two well programme in Georgia has been capped at US$5.6 million.

"We believe (this) mitigates the impact of any costly delays to a great extent," he said in a note to clients, adding that he believed the shares had been oversold on the back of the news.

Old Park Lane Capital has a 'buy' rating with a target price of 115 pence.

Earlier Red Emperor told investors that the well had reached 1544 metres after a short interruption to take close analysis. It said that a full suite of wireline logs had been recorded at the well and "valuable information" had been obtained from sidewall cores.

It added that a Vertical Seismic Profile (VSP) survey will be run in around 10 to 14 days and the new information will be used to decide the next steps for the well.

The firm undertook the analysis to see if the well had reached the Paleozoic granite basement or is drilling through an area which is masking the targeted primary reservoir objective at a depth of about 2300 metres as interpreted from a previous survey, it said.

The data was also collected because of the slow drilling rates through the intrusive complex. Drilling is now continuing after the short break and the proposed target depth is 3500 metres.

The Mukhiani well is targeting the Vani 3 prospect, which has estimated undiscovered stock tank oil-in-place of 41.7 million barrels measured on a P90 basis.

Red Emperors partners in Georgia are Range Resources and Strait Oil & Gas, which is the operator of the well.

Range Resources and Red Emperor respectively own 40 and 20 per cent of two onshore blocks in Georgia covering 6,500 square kilometres.

Down 10.1 % on the ASX

Await the news on the Georgia drill

Good rise today

indeed great day today in general - & yes look fwd to the georgia results - have a great weekend

up 5.8% on the ASX

last update on the 10th Oct, 10-14 days stated for the next. Monday being 14 days.

Delays in news are causing investors to be uncertain along with the current drill in Georgia. Hope for news next week either being good or not so good and move on.
Investors just want the sp to start to move forwards.

http://moneyam.uk-wire.com/cgi-bin/articles/20111026075500P7981.html

hi dc - these delays for me with my trading hat on are music to my ears - we are ticking down to the news rapidly now - bargain basement again here lol - considering some action tomorrow - hope not too late and rns not already out early!! long term my stance and holding is unchanged - but just cant afford to miss these great opportunities - and if the same come friday i.e. no rns this side of the weekend - guess what ..................... i WILL NEED MORE RMP lol and i would not wanna be outta rmp this weekend come monday morning!!! LOL

i would not be surprised to see nicely blue leading into the weekend - yeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Investors seem to have taken their positions, for the news due. No great sell off or buying.

http://moneyam.uk-wire.com/cgi-bin/articles/20111028104843PB187.html

i must have been dreaming today - i am sure i saw some blue here today at some point?! well that didnt last too long - wonder what caused that flash in the pan?!

anyhow just a waiting game here and as you say dc i believe most of us have already taken poitions and some like me also trading this one gl

having said that low level buy demand right now could cause that - so not that surprising really

You did, not for long. lol

Red Emperor Resources NL
Final Results




http://moneyam.uk-wire.com/cgi-bin/articles/20111104123649PDC6B.html

If a p and a is announced (i do say if) I can see the sp falling below 10p. With funds having to be raised, I am sitting tight. Just watching before I press the buy button.
If all comes good may miss the boat or collect some very cheap shares.

Up 13.33% Wonder why. Has there been a leak?

dc "Has there been a leak?", if there has been then someone should tell RRL!!..