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.

I see G. Bandy has increased his holding, all bodes well. Looks like an update next week.
May only be told the well is commercial, I say only. Could be a blue week from Monday.

Thanks to very sensible mike on ii,

Re value
The Majors are waiting for confirmation of a commercial discovery
If BP are to be involved they will be privy to that information before
the market and discussions are underway. Assuming total recoverable
from both blocks is 5bn bbls valued in the ground at $5 this equates to $5bn
for RMP or £13.66per share. However this is the approximate value over the life of the
Field after costs and allowing for the terms of the PSA . This is not
the same as the price a major oil company would be willing to pay.
It is not difficult to see that RMP is just a pawn in the overall scheme
of things. All the way down the line RMP has received special treatment.
Puntland Farm in, Georgia farm in and so now the question is what is the
deal PL refers to re offshore. I suspect whatever it is it will be to the benefit
Of both RMP and RRL shareholders (ie the boys)

My previous aid me memoir post which valued a 300m bbl recoverable discovery
at 300p and increased at the rate of 100p per 100m bbls (see yesterday's post for
details) did not include anything for offshore as we have not farmed in yet. The one thing
we do know is that RRL will end up with a 20% free carry of the prime offshore block which
could contain up to 30bn bbls as it is thought to be an extension of Nugal. The best way to
figure out the likely order of play is to work backwards from the end.
So PL has to farm out to a major in return for the free carry. In his own words "RMP will pay
the most" make a lot more sense when viewed in the context of them being taken out.
IMO RMP will be set up with 75% to 80% of the offshore block in exchange for a free carry
and an equity stake. Then with a bid of around £4.50 will benefit all parties
RRL RMP and The Buyer. RRL would get the free carry 20% and a sizeable amount of cash.
That is why the offshore Carl will not be finalised until a commercial discovery is officially announced. My £4.50 RMP minimum T/O valuation is based on RMP issuing 100m shares to
RRL. So RRL would end up with £450m to develop TT and Colo. Nice deal.
All of the above is just my opinion nothing more but it does make a great deal of commercial
sense as well as satisfying the soon to be reunited Somali Nation.

Roll on next week VSM

Should be a very good week for RMP.

Reading the boards looks like investors have been limited in buying today. Another good day.

http://www.moneyam.com/action/news/showArticle?id=4344779

one word - kerrrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnnnnggggggggggggggggggg :-))))))

He's back!!!.,.

http://dissidentnation.com/why-is-april-15-so-important-for-puntland/

If the puntland well is fill to spill as has been talked about this weekend could well be
kerchinnnnnnnnnnnnnnnnngggggggggggggggggg gibby.

84 days into a 90 day drill now, could be £1 + if we hit or 10 pence if a duster.
Still in profit at 10 pence.

yep bb - i'mmmmmmmmmmmmmmmmmmm backkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk lol :-))))

hope so dc - some peeps have gone mental and talking of £5 sp!!!! 1 squid would do me fine right now :-))

hope you guys all good and been doing well

I bet it would gibby :-)) good to see you back.Ramper lol

moi!!! surely not - lol

and cheers :-))

Been good to me this one, and I would hope all investors on here as well.

wish i'd got out at 45-48p

http://redemperorresources.com/IRM/Company/ShowPage.aspx/PDFs/1258-59377750/Appendix3B

on the rise

Agree with you Bb if we have a duster. Disagree with you if we find oil. :-))

indeed - but i still say.................................................................


i would not wanna be outta rmp tonight :-)))))))))))))))