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.

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

If you want risk with huge upside try FOGL ,MXP and FPM......rollercoaster guaranteed...

If you want NO risk with huge upside It's got to be the New MTA with Maxim Barsky.

This did get smashed today. Dont know if it was a good rns or poor ? The market have taken it as poor. Tullow have had in the past finds of a pay load of 4mtrs of oil and its been classed as commercial. THis drill had 12 - 20 mtrs ? Perhaps the market was looking for more who knows ?

you don't af talk some bollocks sometimes rf.,.

Have you just got home to this Bb.

yes

Same as me Bb. I do not want to know whats it best to be in, I am sorry but one or two posters seem to have a very unfortunate manner on here.

not the sort of drop you like to come home to, ah well back to the drawing board, glad i sold rrl.,.

Lets hope this has been over sold and the next one comes in.

dreamcatcher

My apologies I was only replying to RF these oilers are pigs sometimes I have had similar percentage looses on stocks, but 41% is a bit much in one day.

Understood driver, thats fine :-))

While we are doing tales of woe. I saw the RNS, my daughter turned up with my 8 month old grandson for lunch. Three hours later I looked again and the rest is history.

Not funny an expensive 3hrs, you may not have been able to sell anyway with a queue.

Red Emperor (RMP LN) (18p) BUY
Update Price target: 65p
Oil & Gas 17 May 2012
Well Test the Next Step
The confirmation that the 12 – 20m of net pay will be flow tested is a positive
step on the road to declaring Shabeel commercial. Not only does this suggest
that the region is a hydrocarbon province, but it also says that the accumulation
is in excess of 100mm bbl. We are maintaining our 65p target and BUY
recommendation.
• You Only Appraise a Discovery – This Good News is Buried: Announcing that you
are going to test a formation usually follows the declaration of a discovery – nowhere in
these series of announcements has the word “discovery” been mentioned. The
disclosure that the participants will test the Jesomma sands (Upper Cretaceous), and
what this means to the owners of Shabeel’s participant companies, should have been
made clearer. By peppering the text with anodyne “tech-speak,” this announcement
has not only failed to adequately draw attention to the positive steps, i.e. that a
potentially commercial discovery has been made, but it has been so opaque that it
leaves readers with the feeling that the main focus of the announcement is the lack of
interest in the deeper Jurassic horizons.
• This is Not the End of the Appraisal Process: There is currently insufficient data on
Shabeel’s Upper Cretaceous Jesomma sands, and more work is required before
anybody can opine on the asset’s commerciality. Irrespective of the announcement’s
opacity, given the amount of work required to precipitate the decision to undertake a
well test, especially in such a remote location, it indicates that the operator has
observed a significant body of evidence to suggest that the potential reward that could
flow from mobilising equipment to site is worth the effort.
• Will it be big enough to cross the 100mm bbl Threshold?: There has been much
speculation as to what size of field would be commercial as a standalone development,
with the general consensus indicating that it is approximately 100mm bbl. Given that
the predrill estimates were for 300mm bbl of recoverable from Shabeel and Shabeel
North, the fact that we have 12 – 20m of net pay indicates that the Company is still on
track to achieve this; we estimate that Shabeel could contain up to 100mm bbl.
• Well Test Boosts Regional Prospectivity: While this news has understandably not
been well received by the market, the well test raises the prospectivity of the region,
especially as one of the key risks has been whether there are any hydrocarbons. While
the Company waits for the testing equipment to arrive in Puntland, the rig will be
mobilised to the Shabeel North drill location, where the Company’s participation will
give it a 20% interest in the Dharoor and Nugaal blocks.
• Red Emperor is sufficiently funded for its medium-term goals: Following the recent
capital raising, we estimate that the Company is now sufficiently well-funded to meet its
near to medium term obligations, which are comprised of wells in Puntland and
Georgia; the Company’s revised Georgian programme offers the investor an interesting
offset to the exploration risk elsewhere in its portfolio.
• Reiterate BUY and 65p Target Price: While the news that the deeper horizons were
not considered a suitable candidate for further appraisal is disappointing, the decision
to take the next step towards testing the Upper Cretaceous is positive, not only for
Shabeel, but also the region as a whole.
This is a marketing communication. It has not been prepared






http://www.fox-davies.com/media/31209/rmplnflashnote170512.pdf

Down 16.1% on the ASX

http://www.moneyam.com/action/news/showArticle?id=4372767

Monday, May 21, 2012
Red Emperor Resources (LON:RMP) jumped as much as 20% to 18.96p during early trading before settling down around the 15p level after the company said that it has, today, exercised its option to participate in the drilling of the Shabeel North well, schedule to be spud in the first week of June. As a result of this decision to participate, Red Emperor maintains its 20% Participating Interest in each of the Dharoor Valley and Nugaal Valley PSAs. The rig is currently moving to the Shabeel North location, 3.5km north of Shabeel-1. The primary objective of this well will be to evaluate the Upper Cretaceous Jesomma Sands that have been oil-bearing at the Shabeel-1 location. Greg Bandy, Managing Director of Red Emperor, commented, "We are delighted to announce that we are participating in the second Puntland exploration well and as a result maintaining our 20% interest in this historical Joint Venture. We were very encouraged by the results of the Shabeel-1 well that have confirmed oil-bearing sands in two zones. This discovery has very positive implications for the prospectivity of the basin. We look forward to the results of the Shabeel North well and to testing the Jesomma sands to confirm the potential of the block." We (Fox Davies) as a shop have a BUY recommendation with a 65p price target



Read more: http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Red_Emperor_Resources_Matra_Petroleum_and_Gulf_Keystone/197f1a4f34e2.aspx#ixzz1vWENzjD0



http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Red_Emperor_Resources_Matra_Petroleum_and_Gulf_Keystone/197f1a4f34e2.aspx

BB : you don't agree with my picks for huge up side ?...FOGL, MXP and FPM ?....come back in 6 months and we shall see.....I'll remind you then.....