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.

indeed dc - your last word says it all - 'interesting' have a good evening

Welcome back g.

g, The company is only valued now to the cash it has. Interesting to see the news from GB of where he thinks this company is going. I guess they could bring forward the Nugaal drill as the site is ready. Can see this dropping some more perhaps then bobbing along till some form of news. Dont know about Georgia,need news.

thanks dc - i'm holding fire here - would not be surprised to see 3p range here quite soon gl

aceisme
Re: S1 & SN geology data - FAO Goonerboy
Fri Aug 31, 2012 5:47 am
I don't usually do this, but I thought this was a good post on HC by Masher. Hope he/she does not mind me posting it here.

=============

I've been wracking my brain and rereading the RNS's over and over again to see where I went wrong and why I didn't derisk at 50p or even at 34p after the SP went down to 25p because of the capital raising and climbed again to 34p.
I remember I was considering selling all my shares because of the euro woes and the price had climbed back upto 34p from 25p after the placing.

The following are the reasons why I didn't sell:-

For a start I was under the impression that they had enough information about the area they were drilling and that this was probably the best position to start their drilling campaign.

We were first informed
1) of the 40m gross pay and 12m - 20m net pay.
2) we were given the porosity figures
3) we were told that they have encountered hydrocarbons at the early stage of the drill which is a bonus and expectations are of a larger find further down.
4) we were told of a working hydrocarbon system.
5) we were told by the brokers that the whole area is now derisked and they have consequently reduced their risk factors to calculate the SP.
6) all the boxes were ticked based on RNS's not just rumours.

Then the SP started drifting down from 50p which seemed OK because the SP had climbed from 10p to 50p and it seemed like some people were taking profits.

Then were told of the placing at 32p by then our SP was roughly 40p and I remembered the previous placing in the 20's were the SP didn't retrace to that price and just kept on climbing. So I didn't take any chances and I held on.

Then we were told that the S1 had reached the basement and only encountered a further 3m of net pay which is not worth testing. Because of this the vaguely worded RNS the SP went down to 15p to 20p
Should I have sold here???

This is were things start to get foggy and don't add up.

1) they don't test the 12m to 20m net pay because they haven't got the equipment

2) we are told that they have been drilling the edge of the basin

3) larger finds should be encountered nearer the centre of the basin

4) PL and GB buy shares in their respective companies ( this did send alarm bells ringing in my mind because I think PL is a crafty bloke) to suggest that those people selling have come to the wrong assumptions.
5) the next drill at SN will go ahead which is only 3.5km away so near to S1? Are they that happy about the log results that they don't even want to wait for the testing equipment and start drilling just down the road?
Add to that they are only going to drill to revised depth of 2400m and not any further down.
My assumption here was that this was to save money so they can do a third drill and further prove up the the whole area and sell it off.

6)GB announces in an RNS that RMP does not have an obligation but it has a choice whether it wants to participate in the 2nd drill and having looked at the log results etc etc. He is pleased to announce that RMP will have no hesitation in participating in the 2nd drill.
So everything seems to be in order.

These things are not adding up.
You drill for 3months and not know that you haven't got the required testing equipment?
You don't send for the testing equipment and do the testing first at a minimal cost but you go and drill nearby at a huge cost not knowing whether you have water or oil 3.5km away.
You drill to the revised depth and change your mind again and drill to the original TD and beyond on the nearby SN.
HRN do a further placing between the first and second drill with warrants attached most of the AOI allocation was taken up but not all of it there by reducing their share of HRN from 51% to c47%. Nevertheless they did take up a substantial amount.
Neither the warrants from the first tranche nor the second have qualified to be exercised.
That's odd because if they have been playing with the information then they could have got at least the first tranche exercised.
Now they have no money left.
Why mention oil or water before doing the testing on the SN gross find.
Why re-revise and drill at a huge cost to TD and beyond yet not go to test S1 at a minimal cost.
I just cannot believe the series of events that have brought RRS and RMP to it's hand and knees.
I am prepared to believe that PL and GB are amateurs at this oil and gas business but KH has got years and years of experience plus all the Knowhow of AOI at his presence. Why does he seem like a headless chicken in all this?

No it just doesn't add up.
........................................................
Food for thought!

up 8% this morning, not dead yet

still holding fire here for now

Gibby, have you lost your shirt on this one and afraid to show up on other threads.,.

hi baler - not at all - reason not been around that much is because i have had other projects on the go and took some holidays - and that things were pretty dire everywhere market wise so decided to do other things - interesting rise here today - wonder what the rest of the week will bring - gl

oh and.... yeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa :-)

http://www.directorstalk.com/the-energy-report-range-resources-ltd-rrsasx-rrlaim/#sthash.F12TL4em.dpuf

3
Mar 2013
The Energy Report – Range Resources Ltd. (RRS:ASX; RRL:AIM).
By News Teamin News

Riding on the back of Range.

In that case....... COME ON RANGE....... oh dear lie down time. Glad your ok gibby, we all hope things improve steadily through the year.,.

Good rise today, along with rrl.

I'm in as of today

Farmin agreement signed with Otto energy

proactiveinvestors- red emperor ready to march

Execution of Drilling Contract
PRNW


5 May 2015

Red Emperor Resources NL

EXECUTION OF DRILLING CONTRACT WITH MAERSK DRILLING

The Board of Red Emperor Resources NL ("Red Emperor" or "the Company") is
pleased to advise that its Joint Venture partner and Operator of Block SC55,
Otto Energy Ltd (ASX: OEL) ("Otto"), has executed a binding contract with
Maersk Drilling to secure the Maersk Venturer ultra-deepwater drill ship to
drill the Hawkeye-1 exploration well.

The Joint Venture can confirm that the drilling window will be between 17 July
and 15 August 2015. Prior to this window, the mobilisation of key services and
equipment will have occurred and the Maersk Venturer will have sailed to the
Hawkeye-1 drilling location. The well is expected to take around 23 days to
drill.

Final costing for the well is being completed with the majority of services
already contracted. The total expected cost remains within guidance of US$30 to
$35 million. This cost is a dry-hole well-cost estimate - if the well
encounters hydrocarbons more detailed evaluation, including well logging, will
be undertaken. Red Emperor's well-cost exposure is capped at US$5.625m.

SC55 is located in the southwest Palawan Basin and covers an area of 9,880km2.
It is a deep-water block in the middle of a proven regional oil and gas fairway
that extends from the productive offshore Borneo region in the southwest to the
offshore Philippine production assets northwest of Palawan. The Hawkeye
prospect was identified on 2D seismic in 2007 and further defined with a 600km2
3D seismic acquisition in late 2009. Hawkeye contains a 'Best Estimate' STOIIP
of ~480 MMbbls of oil and a 'Best Estimate' Gross Prospective Resource of 112
MMbbls (RMP net 14.3 MMbbls).

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

Red Emperor

Greg Bandy +61 8 9212 0102

Grant Thornton UK LLP

Philip Secrett/Jen Clarke/Jamie Barklem +44 20 7383 5100

Brandon Hill Capital Limited

Jonathan Evans +44 20 3463 5010



END

Share price down 60% today.

Red Emperor quits Hawkeye-1
StockMarketWire.com
Red Emperor Resources said the Hawkeye-1 exploration well was drilled to the planned total depth of 2,920m. While it proved the existence of hydrocarbons in SC55, these were at the lower end of expectations and not likely economic to develop. The well will be plugged and abandoned.

Story provided by StockMarketWire.com