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.

Horn trades on the TSX only, you'll need a provider that lets you trade there if you want to buy in.

http://tmx.quotemedia.com/quote.php?qm_symbol=HRN

Likewise thinking of banking a bit of profit here but it just keeps going up! Average 21p. Def going to take some out if it passes 40p without more news

Had a change of plan, will bank some after the first drill result

My guess £1 if we hit with good results

If a duster - well perhaps will drop a half+

But will gain momentum for the second drill and Georgia.

Can't be a total writeoff as hydrocarbons have been encountered so...something is down there...but how much and in what form : gas or oil, or both ?....

http://dissidentnation.com/puntland-brings-good-fortunes-to-red-emperor-resources/

March 11, 2012 1:07 — 0 Comments
Puntland Brings Good Fortunes to Red Emperor Resources
Earlier this week, Red Emperor Resources and drilling partners in Puntland’s Dharoor valley found good signs of hydrocarbons and a working petroleum system in place, raising the profile of the small exploration firm and bringing good tidings to shareholders.


Fox-Davies capital raised Red Emperor’s target price to 65 pence yesterday, up from just 20 before the positive hydrocarbon shows. In the two planned wells alone, the Shabeel-1 and Shabeel-North, there are an estimated 675 million barrels of recoverable oil. At current prices, that’s roughly $70 Billion worth of oil sitting beneath those two wells.

Risk in the current exploration process has diminished greatly since the recent update from the exploration companies. Red Emperor stated that it now stands at a 40% chance of success at the Shabeel-1 well, compared to just 12% before the hydrocarbon shows, and the main reservoir targets have yet to be reached according to the exploration partners. The Shabeel-1 is only one of four planned wells over the next two years, making a significant oil strike in Somalia almost absolute certainty.

Hirsi Fiqi, Editor

DissidentNation.com

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/exchange-insight/technical-analysis.html?fourWayKey=AU000000RMP0AUGBXAMSM

up 16% on the ASX at this time

Up 14.4% on the ASX

few weeks anywhere between 50p to £1 :-))))))))))))

Being held back

Horn up 19% looking good.

Good to see you on here gibby.

http://dissidentnation.com/puntland-oil-update-expected-within-a-week/

Up 12.4% on the ASX

http://dissidentnation.com/marauder-resources-to-amend-psa-with-puntland/#more-1408

40p + lookin good, how long will it continue??.,.

Crumbs...it's rocketing....any rumours ?...

Fox-Davies Capital raises Red Emperor target price to 65p after 'promising' Puntland update

Fri 11:19 am by Sergei Balashov

The Dharoor and Nugaal blocks in Puntland are estimated to contain one billion barrels of unrisked and undiscovered oil prospective resources

Fox-Davies Capital said the “promising” oil shows in the first well drilled by Red Emperor Resources (LON:RMP, ASX:RMP) in Puntland have significantly reduced the risks associated with the project.

In today’s note, which was issued in response to Wednesday’s upbeat drilling update, FD Capital analyst Zac Phillips upheld his ‘buy’ recommendation on Red Emperor, while upgrading its target price to 65 pence from 22 pence.


According to Phillips, Red Emperor’s fair value in that case will rise by 266 pence with the Nugaal permit accounting for 180 pence and Dharoor for the remaining 86 pence

Running on free shares, just sold the value in shares I invested in. What a day.