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.

dreamcatcher "So perhaps the water mention in the rns by KH was to keep a cap on the s/p."

No but it could've been a sign for friends and family to bail-out..

agree gb

- 48.3% on ASX

Just waiting for the P&A RNS

A duster is well priced in now.

up 22%

Puntland Drilling Update
PRNW


27 July 2012

Red Emperor Resources NL

("Red Emperor" or the "Company")

Deepening Shabeel North Well Update

Red Emperor Resources NL (ASX: RMP | AIM: RMP) provides the following update on
the Shabeel North well in Puntland, Somalia which is being drilled by operator
Horn Petroleum Corp. ("Horn").

Further to the recent announcement on the testing of the upper Jesomma sand
reservoir which yielded fresh water, the well continued drilling through the
entire Jesomma reservoir section and has reached a depth of 2,200 meters. The
section contained several additional sands with oil and gas shows and a full
set of electrical logs was run to determine if these sands contained potential
oil zones which would warrant further testing. The analysis of these logs
indicate that the most prospective looking zone in the well was the upper
Jesomma sand interval that had already been confirmed by testing to contain
fresh water and thus no further testing could be justified.

Based on the positive evidence of oil shows and the presence of good quality
reservoir in the Jesomma, the partnership has decided to deepen the well in
order to evaluate the potential of the Lower Cretaceous and Jurassic sections.
The current revised total depth will be approximately 3,400 meters and is
expected to take an additional 15 to 20 days to reach that depth. The Jurassic
section in the nearby Shabeel well had thin reservoir sands with oil and gas
shows, but this section was determined to be not thick enough to warrant
testing. These sands are expected to thicken basinward towards Shabeel North.
There was also evidence that there may have been faulting in the well which
could have cut out a significant portion of the basal reservoir section, which
is not expected in Shabeel North.

Horn President and CEO David Grellman stated "While we are obviously
disappointed that the Jesomma sands tested wet, the overall results of the two
wells drilled during this campaign are quite encouraging in the long term
prospects for oil potential of the basin. We have confirmed a working petroleum
system, good quality reservoirs and thick impermeable sealing rocks. The two
Jesomma structures drilled to date appear, subject to final petrophyical
analysis, to have issues with the integrity of the trapping mechanism. We are
still hopeful that the lower zones in the Shabeel North well may have favorable
trapping geometries against the deeper thick carbonate and anhydrite sections
seen in the original Shabeel well."

For further information please visit www.redemperorresources.com or contact

Quarterly Activity Report

http://www.moneyam.com/action/news/showArticle?id=4418342

Up 11.1% on the ASX

up 25% news due?

Lets hope Horn comes on strong.

rmp +30%

YERHAAAAAAAAAAAAAAAAAAAAAAAA

Buying at 10p

Trades slowed

A lot of selling into the rise

Could be a placing announcement for RMP to fund Nugaal. ?

Suspension on ASX extended to Monday 27th or earlier news from Puntland.

Playing for time, tend to think now if a duster would it of been announced already.
May be good news, who knows.

I agree it would have, probably.