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.

Lets hope its good. Good to have a Puntland update in the next day or so.

http://fox-davies.com/emails/views-from-the-trading-floor.aspx


Red Emperor Resources (LON:RMP) and Range Resources (LON:RRL) slipped 8.5% and 5% respectively after both companies said they have revised their exploration strategy in Georgia to focus on coal bed methane gas that could generate revenue within 18 months of drilling. The two oil companies, dual-listed in Australia and England, said they will focus on low-cost, shallow appraisal drilling around the Tkibuli-Shaori coal bed methane field. The Tkibuli field has been estimated to contain around 0.4 trillion cubic feet of coal-bed methane gas. By prioritizing exploration around the productive coal seams, the companies have the opportunity to make early discoveries, add proven reserves and look to provide revenue potential from the Tkibuli coal bed methane field within 18 months from the start of drilling. The partners have also executed a conditional agreement with the Georgian Industrial Group regarding the joint development of the project and providing a commercial offtake for 100% of the gas produced. Georgia remains almost entirely dependent on imports of foreign natural gas and gas production from Tkibuli, and therefore, could immediately be fed into the local energy market. Range holds a 40% stake in Blocks 6a and 6b, where the Tkibuli field is located, Red Emperor has a 20% stake and Strait Oil holds the remainder. The next snippet of news from both companies should be another update from drilling at the joint asset in Puntland Somalia.

Would be nice to have some success.......nothing but red on my porfolio.....booooo...(:(((

Good news should rebound this. Puntland now must be good for this company, as that is all it has in the near future.

Page 3 - First two wells in program have made two apparently significant oil
discoveries in Kenya and Somalia




http://www.africaoilcorp.com/i/pdf/AOI_May_2012.pdf

This should now rise back to the 30s pretty quick before an official announcement and then anyones guess where it could rise to.

Up 13.2% on the ASX

http://www.moneyam.com/action/news/showArticle?id=4368108

up 19.05% today

Racing back to 40p yyyyeeehhaaaa

What was it mambollico was saying.,.

He does not like anyone doing well Bb. We are all idiots to him.

Up 12.20% on the ASX

FoxDavies Daily Monitor - Range Resources, Providence Resources and Chariot Oil & Gas
Monday, May 14, 2012
Range Resources & Red Emperor (RRL LN, 10p, ▲ 7%; RMP LN, 34p, ▲ 18%)- Puntland looking like a better Punt: Africa Oil's presentation (here) has highlighted the significance of the previous announcement of 12 - 20m of net pay over a 150m interval, and is encouraging. Firstly it raises the potential that we may have a commercial discovery, and secondly, it increases the prospectivity of the remaining targets in the exploration portfolio. On the back of this news, we are reiterating our price targets (Range - 27p; Red Emperor - 65p) and BUY recommendation on both. In this news:


■A gross section of 150m of oil
■net pay potentially between 12-20m
■Cretaceous Sandstones
■Further oil shows encountered in deeper sandstones currently being drilled.
■A testing program including the zones discovered to date and any deeper potential pay zones encountered will be agreed.


Read more: http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Range_Resources_Providence_Resources_and_Chariot_Oil_Gas/8bd8afaa06ea.aspx#ixzz1uubhvDuU

Seems to hold above 30p, just need the news now from Horn.

Here's the News

Red Emperor Resources NL

("Red Emperor" or "the Company")

Puntland Update

http://www.moneyam.com/action/news/showArticle?id=4371498

why has this plummeted? RNS didn't read bad to me nor did it shout out from the roof tops

Alex

rob some may think its a duster others may say it shows promise?

No testing......sp to drop below 10p ?....best to be in RRL rather than RMP...of all the risky oilies : this is it....

required field

No best to be in MTA not RRL