RMP - Red Emporer Resources - Aussie Stock Forums

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  1. #1

    Default RMP - Red Emporer Resources

    Hi guys,

    Have noticed theres not a thread for these guys. Anyone have any thoughts or info they'd like to share?

  2. #2

    Join Date
    Sep 2009
    Best address on earth

    Default RMP - Red Emperor Resources

    This is a stock that is related in a roundabout fashion to Range Resources Limited, a bit like Aussie and New Zealand. The directors in RMP have had a long association with RRS and in another guise 2 directors run Max Capital who have provided financing for capital raisings for RRS.

    Seeing the success of Range Resources these directors took the step of directly investing their own listed vehicle, RMP in 2 Range Resources projects. The first was Puntland in Somalia where for the same percentage interest (20%) they slipped in under the radar for a very cheap entry. They did this trick again in January buying into Range resources Republic of Georgia deal taking a 20% interest for 40% of well costs capped at $5.7m. Essentially they have a very similar exposure profile to 2 or Range's main projects but at a lower entry cost and with little opportunity cost.

    A rundown from the Red Emperor website says;
    "Red Emperor Resources NL is an ASX listed (ASX: RMP) natural resource exploration company with oil & gas 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 with plans to drill two wells, Africa Oil Corp (TSXV:AOI) – 45% Operator, in 2011. These two exploration areas have independently been assessed to potentially contain over 18b barrels of oil.

    • In the Republic of Georgia, Red Emperor holds a 20% farm‐in interest in onshore blocks VIa and VIb, covering approx. 7,000sq.km. Red Emperor’s JV partner, Range Resources Limited (ASX: RRS; AIM: RRL) has recently completed a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing and estimated 2.045b barrels of oil in place.

    • The Company also has a 25% interest in the Jillewarra Project free carried until bankable feasibility study, which is a copper and gold project in Western Australia."

  3. #3

    Join Date
    Sep 2009
    Best address on earth

    Default Re: RMP - Red Emporer Resources

    I notice my previous post has been tacked-onto a long lost post from 2007. I will point out that any resemblance to the previous company is tenuous. This is now a high leverage play into oil and gas licenses in Georgia and also in Somalia, something that has only come about in the last 6-9 months. Even Greg Bandy the CEO is a new addition.

    The stock has firmed since my original post last week, trading to a high of 32.5c and closing the week at 30c. This will be my pick for the April stock tipping competition

  4. #4

    Default Re: RMP - Red Emporer Resources

    Red Emperor Resources NL (ASX: RMP) is pleased to announce that it has signed mandates with key participants in the UK to help facilitate a fast track listing on the AIM market of the London Stock Exchange

    AIM listing date expected to be early May 2011

    Same broker, fancy that


  5. #5

    Smile Re: RMP - Red Emporer Resources

    Well it has been 1 year since the last post and the share price has doubled.

    looks like RMP has done well with their announcement of oil and gas shows.

    they are a long way from TD but they will be running intermediate logs fairly soon, in about 400-700m ... which is hard to know when that will be as it doesn't say how fast they are drilling?

  6. #6

    Default Re: RMP - Red Emporer Resources

    Maybe someone can post the breakout in beginning of March. It was a beautiful potential break-out bowl pattern formed spanning seven months. Popped March 4th. Straight up 100% in two weeks. Not a peep in the breakout alert threads. We snooze we loose.

  7. #7

    Default Re: RMP - Red Emporer Resources

    Amazing run up.

    Is there a trade here, entry before close ?

    22-03-2012 3-46-45 PM.jpg

    It has come back 6% on low volume.

    Stop at 65. What are thoughts ?

  8. #8

    Default Re: RMP - Red Emporer Resources

    Quote Originally Posted by mr. jeff View Post
    Amazing run up.

    Is there a trade here, entry before close ?

    22-03-2012 3-46-45 PM.jpg

    It has come back 6% on low volume.

    Stop at 65. What are thoughts ?
    Guess everyone thought it was too risky.

    Pre-CR pump??

    Announcement out today regarding capital raising.

  9. #9
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: RMP - Red Emporer Resources

    MC - $35m
    SP - 14c
    Shares - 258m
    Options - Nil listed
    Cash - $18m

    Puntland Projects
    During the quarter Red Emperor’s JV partner and operator of its Puntland Project, Horn Petroleum Corp (TSXV: HRN), completed drilling of the landmark Shabeel‐1 well on the highly prospective Dharoor Block. This was the first well drilled in Somalia in over 20 years and the first drilled in the Dharoor Basin in over 50 years. The Shabeel‐1 well reached a total depth of 3,470 meters and encountered metamorphic basement at a depth of 3,430 meters.
    In addition to the previously announced 12 – 20m zone of significant hydrocarbon pay in the Upper Cretaceous Jesomma Formation, the well encountered additional potential net pay sands in the Jurassic Adigrat Formation at a depth of 3,246 to 3,430 meters, several of which exhibited oil and gas shows. Petrophysical analysis of the well log data indicated up to 3 meters of potential hydrocarbon pay in several thin sand units.
    The drill rig then moved to the Shabeel North location, 3.5 kilometres to the north, where drilling operations commenced in June. The Shabeel North well was targeting the Upper Cretaceous Jesomma sands, which had good oil and gas shows in the Shabeel‐1. On the 22nd May, Red Emperor announced the exercise of its option to participate in the Shabeel North well and therefore earn its 20% interest in the two blocks, Dharoor and Nugaal.

    Subsequent to the quarter end, the operator conducted an open hole Drill Stem Test over a 50 meter gross interval (between 1,910m – 1,960m) at Shabeel North which contained several sands in the upper portion of the primary Jesomma Formation which had oil shows. The test recovered fresh water (1200 ppm Cl‐) without any traces of oil. The well continued drilling through the entire Jesomma reservoir section to reach 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 indicated 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 have now decided to deepen the well in order to evaluate the potential of the Lower Cretaceous and Jurassic sections. The current revised total depth is now approximately 3,400 meters. The Jurassic section in the nearby Shabeel 1 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.

    Georgia Project
    During the quarter the joint venture announced a revised development strategy in respect of Blocks VIa and VIb
    of the Georgia Project. The revised strategy will focus on low‐cost, shallow appraisal drilling of the contingent
    resources around the Tkibuli‐Shaori (“Tkibuli”) coal deposit, which straddles the central sections of the Company’s two blocks.
    Tkibuli has been estimated by Advanced Resources International to contain recoverable gas resources of at least 0.4 trillion cubic feet of coal‐bed methane (“CBM”). Sand horizons have also been identified around the coal beds, which could add additional, conventional hydrocarbon resources to those estimated for CBM at Tkibuli
    Agreements have been signed with the Georgian Industrial Group (“GIG”) who will look at the joint development
    of the project alongside the current partners as well as taking 100% of the gas produced from the project under
    the offtake agreement.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

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