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.

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

Incredible..

Good luck mitzy, if you have this stock, otherwise good luck. :-))

There seems to be no shortage of buyers!

Heading for a strong close

Well, I took profits as I now think Range are the better bet with various assets as a back up....this has done well, but I'm a bit nervous as perhaps a pullback in this one is overdue before resuming a climb....long way to go before any results of any kind....only if they hit oil in big quantity probably would a rns be put out....and I don't think that RMP and RRL will follow each other : RMP shot up whilst RRL's sp languished for ages...now it's perhaps going to be the reverse for a bit !.

Very sensible rf, I took profits on Wednesday.

hope its not going to be a duster!

I don't think that we shall know for a month or so....hence jumping in RMP needs some caution...

suggest lock in some profit.

The news suggests not, until news you never know.

RRL looks the better bet for now....don't forget EK is shorting RMP....and RRL looks set for further gains...head and shoulders formation as well on RMP....

My view only, this will take breathers but is not going to stop. Could be well over 50p -
75p pre results. No your right I would not pay that. :-))

http://citywire.co.uk/money/hot-stocks-red-emperor-rises/a574718

From today's Uk Analyst Stock Market report:

"There was more positive news from the oil sector as Red Emperor Resources (RMP) reported it had made significant progress across its portfolio of oil development assets in the six months to December 2011. Work commenced on the Mukhiani 1 well in Georgia, while preparations were made to begin work at the Shabeel North-1 well at Puntland, Somalia, which is now underway. The company continues to be well funded following the raising of 6.9 million pounds in February. The exploration company's shares added 3.525p to close at 42.9p."

You might be right dreamcatcher...difficult to guess...the good thing is that this is isable so if necessary I can jump back in but right now this coming week could be pullback time....whenever EK is shorting you take notice....he does not get everything right but the short will be hefty and he has influence.....I'm staying put with RRL.....it's just this has shot up so much lately.....well funded with 6.9 million...market 100 million already....much priced in ?...

Don't want to sound too negative, but I have been doing some calculations ; recoverable oil supposedly of 300 million barrels...20 % of that is 60 million....that's perhaps if both wells are successful...(long way from that... yet).....no infrastructure of any kind for recovery yet....which means probably having to bring in a big boy major....perhaps....$10 profit perhaps on each barrel...by the time a major has taken his cut and in these cases in a risky country you are probably looking at a 50% discount or farmin, perhaps as much as 60/40%...whatever....we are now down to 30 million.....perhaps if and this is a very big if : I reckon that they might have in value : 200 million pounds worth to them in the ground and that's in the event of a huge success,....now the market cap I guess is way in excess of a 100 million..perhaps 120 already...not sure about the georgian assets....a tad overvalued at the present moment with so much at stake ? because a hit or double hit is looking to be factored in.......now Range Resources is a different matter altogether.....views welcome...

THE two licenses dharoor and Nugal could contain 19.9 billion barrels of oil. Range has said they are only out to prove the areas up, then sell on to the majors. So perhaps another divi ? There is pipe works and tanks in place.

from ii

The Figures – from HORN Website – E&OEE…….


http://www.hornpetroleum.com/s/Dharoor_Nugaal_Block.asp?ReportID=499459&_Type=Dharoor-and-Nuggal-Blocks&_Title=Block-Summaries


The NET Best Estimate and Values for the THREE Puntland Onshore Partners given by Horn Petroleum are :-…….

Block…….Partners………………....Gross Area….Gross Best Estimate …Net Best Estimate
……………………………………………[sq.km.]…………[MMBbls]……………..[MMBbls]
Dharoor…………………………............14,384…………..1,210…………………………………..

…………... Horn (Operator) 60%..............................................……………………..726
…………... Range Resources 20%.............................................…………………...242
…………... Red Emperor 20%....................................................…………………...242
……………………………………………………….....Gross Best Estimate Total...1,210

Nugaal……………………………...........21,784…………..4,083………………………………….
…………... Horn (Operator) 60%.......................................................................2,450
…………... Range Resources 20%..........................................…………………...816.6
…………... Red Emperor 20%.................................................…………………….816.6
…………………………………………………….......Gross Best Estimate Total...4,083

Net Asset Value - to Each of the Partners @ $3/bbl

Dharoor

Horn (Operator) 60%..........726,000,000 x $3 = $ 2,178,000,000 / 120* = $ 18.15 per share
Range Resources 20%.......242,000,000 x $3 = $ 726,000,000 / 2,122^ = $ 0.34 per share
Red Emperor 20%...............242,000,000 x $3 = $ 726,000,000 / 205** = $ 3.54 per share

Nugaal

Horn (Operator) 60%........2,450,000,000 x $3 = $7,350,000,000 / 120* = $ 61.25 per share
Range Resources 20%........816,600,000 x $3 = $2,450,000,000 / 2,122 ^ = $ 1.15 per share
Red Emperor 20%................816,600,000 x $3 = $2,450,000,000 / 228** = $ 10.74 per share

For Shares in Issue at the time of the Dharoor and Nugaal Explorations –
[I would expect these to be Higher by the 2013/14 exploration season]

* for Horn - shares in issue raised from 75 Million to 120 Million by the “compulsory” excercise of 45 Million Warrants at an excercise price of $1.50 - by August 2013 - to provide an additional $ 67.5 Million in working capital for the development and Drilling of the Puntland Blocks.


http://www.hornpetroleum.com/s/Share_Structure.asp *

** for RMP – Shares in Issue following the current 2 x Tranches - announced this week.
^for Range – I have used Current Shares in Issue – to be kind - although I would expect RRL Shares in Issue to be Much Higher by 2013/14 – unless there is some sale or buy back.

Values per share for ........................Dharoor + Nugaal combined

Horn (Operator) 60%.......$ 18.15 per share + $ 61.25 per share = $ 79.40 = £49.79

Range Resources 20%.....$ 0.34 per share + $ 1.15 per share = $ 1.49 = £ 0.93p

Red Emperor 20%............$ 3.54 per share + $10.74 per share = $ 14.28 = £ 8.95

Conversion Factor $ : £ = 1.5947

Put RMP / RRL / HRN in an ISA – they are ALL ISAable !!..….

DYOR......