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.

Leaks, — March 13, 2012 18:01 — 3 Comments
Puntland Oil Update Expected Within a Week
Exploration companies in conjunction with Puntland state authorities are expected to update the public on the Shabeel-1 well this week, according to our source with Dharoor joint-exploration firm Africa Oil Corporation.


Our contact tells us that oil presence, and in a sizable quantity, has been encountered at the Shabeel-1 well, signifying a major potential yield for the greater Dharoor Valley basin. He told us that the Puntland Minister of Petroleum Issa Farrah is expected to address not just the local public, but the entire Somali public on the findings at the current stage, and that it is one with a significant impact. We were told that this can be expected within days.

Last week, our source stated that a public address was to be expected from Faroole during that 7-day block though it did not materialize as expected, but an announcement is on the horizon very soon, he stated, either from Puntland or the exploration companies, if not both.

Additionally, our source in Bari Province tells us that Puntland figureheads stated that exploration had for the most part ended, and that extraction is the next phase. We’ve been told that on top of this current well, programs for other wells will continue into the next two years in order to maximize Puntland’s petroleum-bearing potential.

Puntland leader Abdirahman Mahamud is currently situationed in the town of Qardho, roughly at the halfway point between the state capital Garowe and the Dharoor Valley drilling site.

Hirsi Fiqi has written 86 articles for Dissident Nation

Hirsi Fiqi is a freelance journalist based in Minneapolis, MN. His work specializes in contemporary issues in the Muslim world and Somalia in particular, with special links to resource exploration in East Africa that provide a constant stream of information from the home front.

Africa Oil, and its partners Red Emperor Resources and Range Resources, started drilling in January and are to complete the first oil well in Somalia in more than 20 years in the next few weeks.

The Canadian and Australian operators say the Dharoor field could hold up to 1.2 billion barrels of oil. Other surveys indicate the Puntland region has a potential 10 billion barrels.

If that's correct, it would place Somalia, a former Italian colony that has been torn by clan warfare since dictator Mohammed Said Barre was overthrown in 1991, among the top 20 oil states in the world.

But it's the potential for oil and natural gas off Somalia in the Indian Ocean that's seen as big prize, not just for Puntland but for the rest of Somalia as well.

The entire East African coastline further south, all the way to the former Portuguese colony of Mozambique, is seething with exploration by international oil companies, on land and offshore, and is expected to rival the massive fields found in West Africa.

Somali officials say the potential yield is comparable to Kuwait, which has proven oil reserves of 102 billion barrels. That could make Somalia one of the richest oil states in the world.

My guess a small retrace in the morning, then will start to recover.

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=RMP

Hope mms dont play yesterdays news to much

I am guessing a pull back to 40p.

Not if the oil rumours are correct !....

mitzy.....thought you'd gone to ground never to be seen again.....lol hope this one does'nt drop back into the 30's.,.

Back in the blue, looks good.

Its Cheltenham week Balerboy..

Good to see the sp taking a breather, could not sustain the
rise at such a pace.

This is in for a large tree shake before oil news, looks like it has started.MMs want shares.

wish I'd sold at 45p.,.

Down 5.7% on the ASX

Half Year Report



http://www.moneyam.com/action/news/showArticle?id=4330207

Issue of Equity



http://www.moneyam.com/action/news/showArticle?id=4330206

Good to see this recover, onwards.

Agreed! I like the look of this one. Let's hope they make it big.

Running on free shares now, sold a batch Wednesday 45.20 . Well happy. Good luck
geri