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World Stocks

Red Emperor Resources

RMP Quarterly Report

(ASX & AIM: RMP)
Informed Discussion. No ramping. No deramping.

RMP Quarterly Report

Post Thu Oct 30, 2014 10:38 am

http://www.investegate.co.uk/red-empero ... 1718P25F2/


30 October 2014

Red Emperor Resources NL

QUARTERLY REPORT FOR THE PERIOD ENDING 30 SEPTEMBER 2014

Issued Capital: 266M
ASX Code: RMP Closing price: A$0.047
AIM Code: RMP Closing Price: £0.024

The Board of Red Emperor Resources NL (Red Emperor or the Company) is pleased
to provide the following commentary and Appendix 5B for the period ending 30
September 2014.

Puntland
During the reporting period, the Federal Government hardened its position with
regards to the requirement of contracts to flow through the Federal Ministry of
Energy, as evidenced by the statement of the Federal Minister at the Somalia
Oil & Gas Conference in late October. That said, a three-day visit by the
Federal Prime Minister to Garowe was a welcome and positive indication of the
potential for the State government to work with Mogadishu and a joint statement
was released to that effect. As a result, the overall situation remains unclear
and whilst the JV is determined to continue exploration activity, it must seek
to clarify outstanding matters of control before doing so.

Georgia
During the quarter, the shareholders of Strait Oil and Gas ("Strait") continued
to pursue discussions and negotiations with respect to a potential disposal of
its interests in the Production Sharing Contracts (PSCs) in Georgia. Subsequent
to the quarter end, Strait made the decision to terminate negotiations with one
interested party, however the JV remains committed to pursuing a transaction at
some level and continues discussions with market participants.

At the same time, Red Emperor is currently conducting a detailed review of the
geological merits of the proposed obligation well in Block VIb, which is
required to be drilled before March 2015. Whilst Red Emperor is to be free
carried for this well, options to potentially fund the well in return for a
larger equity share of Strait are being discussed.

Corporate
Red Emperor continues to review new opportunities as it has done throughout the
year in accordance with its outlined strategic philosophy. With a restructured
Board and strong cash position, the Company believes it is extremely well
placed to take advantage of a slightly depressed global oil & gas market
AdeMcG
 
Posts: 81
Joined: Mar 2012

Re: RMP Quarterly Report

Post Thu Oct 30, 2014 10:46 am

nicely said:

i always prefer for RMP to proceed and drill in Georgia as it has better expected return. no point selling if we only to get 6-7m.

so, the fact that we will most likely drill, means we will drill by Mar 15. not too far now.

perhaps with the cash we have, we can take RRL stake as well.

i recalled reading the prospect in Georgia, it potentially worth 45p should we strike oil. now, thats even better!!


"At the same time, Red Emperor is currently conducting a detailed review of the
geological merits of the proposed obligation well in Block VIb, which is
required to be drilled before March 2015. Whilst Red Emperor is to be free
carried for this well, options to potentially fund the well in return for a
larger equity share of Strait are being discussed."
londonz
 
Posts: 658
Joined: Mar 2012

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