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.

This reads well from the above - Drilling success could add 266p to fair value: Should the company make a discovery
that requires appraisal drilling, the fair value would increase significantly due to the
heavy risking and the size of the prospects being targeted. If we consolidate CoSs akin
to appraisal (~65%) the fair value will increase by 266p; the Nugaal permit accounts for
add 180p and Dharoor 86p.

Foxdavies have got shares in issue wrong And market cap wrong in the above.

Have not traded any of these. May fall some more.With those values above Ive kept hold. Do not know when news will appear.

UP over 9% now

up 17.5%

Could see 40p today at this rate.

Blimey !....you're right it's taking off....hope Range follows...

Looks good rf. I will be taking off soon, Back to England. Is range being sold to come here?

No.....am two thirds in RRL, and one third in RMP......don't forget this is risky, but a working petroleum system is going to help not just with the existing ongoing operations but for the following spud as well.

Sitting at 100% up nearly, Average 18p . Will have to think over weekend, if to sell half and ride free or carry on. Decisions.

I think that if they hit oil...this will surge even without a rns .....and there is the next well....

Next well, back gambling. May topslice some before then.Think Rmp is not proving good for Range investors. Unless we ever take them over, who knows.

One has a smaller cap than the other....by the way, anybody in Horn...? how's that doing...can't locate the price for that...any info ?....

Horn not doing a lot from what I hear. I have rrrrl, rmp and Tangiers petroleum.

Heard there are a few Large sellers at the mo in Horn

Not such good news then.....but they must be in the first target by now....don't forget...leaks don't always filter out...hardly ever in fact....

May be options or something like, dont take my word for it. Do not follow it to much,only what I hear on the boards.

If Range had gained like this today, I would be jumping up and down. :-))

Carries on like this to the next news will be well happy.

Buys pouring in. Up over 20%