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Cash shell Red Emperor Resources still eyeing potential deals
StockMarketWire.com
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Cash shell Red Emperor Resources said it had continued to evaluate potential deal opportunities in the global oil and gas market during the September quarter.
'While mainly focused on exploration projects, the board have been very mindful of protecting the company's balance sheet and by extension, shareholder value,' the company said.
'A number of projects considered during the quarter continue to remain of interest and the company anticipates being able to update the market and its shareholders further during the current quarter to 31 December 2020.'
'Over the past six months, the oil price has somewhat stabilised after dipping sharply, particularly towards the end of April 2020, however global uncertainty due to Covid-19 continues to be the industry's biggest challenge.'
At 9:20am: (LON:RMP) Red Emperor Resources share price was +0.02p at 0.63p
Story provided by StockMarketWire.com
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