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Red Emperor Resources

Back in here with a small punt ....

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

Re: Back in here with a small punt ....

Post Tue Jun 23, 2015 9:13 pm

$14/bbl undeveloped value is a bit of a tasty assumption, I'd be erring somewhere nearer $3-5/bbl, but that's not to say that's the value to RMP's mcap. The implications of being involved on a successful well's subsequent appraisal campaign is worth much more to the SP than the initial strike, albeit cash will be required to fund it.

Still expect around 10p spike pre- & perhaps 12-15p mid- drill. £50m mcap not an insurmountable target (RMP reached £120m mid-Puntland).

Cheers
DD
Diamond Don
 
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Re: Back in here with a small punt ....

Post Wed Jun 24, 2015 12:00 pm

DD - are you in RMP?

gas shows are a given (irrespective of oil find), so expect this to well during drilling... :)

Best Regards

Diamond Don wrote:
> $14/bbl undeveloped value is a bit of a tasty assumption, I'd be erring
> somewhere nearer $3-5/bbl, but that's not to say that's the value to RMP's
> mcap. The implications of being involved on a successful well's subsequent
> appraisal campaign is worth much more to the SP than the initial strike,
> albeit cash will be required to fund it.
>
> Still expect around 10p spike pre- & perhaps 12-15p mid- drill. £50m
> mcap not an insurmountable target (RMP reached £120m mid-Puntland).
>
> Cheers
> DD
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Fantasy
 
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Re: Back in here with a small punt ....

Post Wed Jun 24, 2015 1:23 pm

Fantasy wrote:
> DD - are you in RMP?
>
> gas shows are a given (irrespective of oil find), so expect this to well during drilling...
> :)
>


Yep, I am in, I was picking them up here and there in the 2s, not in the 1s unfortunately. Not much but enough to keep me interested.

If there's gas show RNA's throughout the drilling phase then it could get pumped higher pre-result.

cheers
DD
Diamond Don
 
Posts: 590
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Re: Back in here with a small punt ....

Post Thu Jun 25, 2015 1:27 am

mathran wrote:
> rmp guys now in UK
> expect the usual PR ramping, cap raising, discussion about another new
> project and the sp to rocket in JULY
>
> our time has come emperors - good luck


one down.....one to go.....

gla
mathran
 
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Trading Halt in Oz for RMP

Post Thu Jun 25, 2015 6:55 am

cashup
 
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Re: Back in here with a small punt ....

Post Thu Jun 25, 2015 7:06 am

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Red Emperor Resources NL (RMP)
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Thursday 25 June, 2015
Red Emperor Resources NL
Capital Raising

Red Emperor Resources NL (ASX | AIM: RMP) is pleased to announce an oversubscribed placing, through its London Broker, Brandon Hill Capital, and its Australian Broker, 708 Capital, of 72,000,000 new ordinary shares at 4 pence (A$0.08) per share (the "Placing Shares") to raise £2.88 million (A$5.76m) before expenses (the "Placing").

Proceeds from the raise and existing cash resources will principally be used to fund the upcoming drilling and potential appraisal activities in the Philippines, where the Company has a 15% interest in Block SC55 in the southwest Palawan Basin. SC55 is a deep-water block in the middle of a proven regional oil and gas fairway that extends from the productive offshore Borneo region in the southwest to the offshore Philippine production assets northwest of Palawan. The first prospect, Hawkeye-1, was identified on 2D seismic in 2007 and further defined with a 600km2 3D seismic acquisition in late 2009. Hawkeye-1 is assessed by the Otto Energy Limited, the Operator of Block, to contain a 'Best Estimate' STOIIP of ~480 MMbbls of oil and a 'Best Estimate' Gross Prospective Resource of 112 MMbbls (RMP net 14.3 MMbbls).

Otto has already secured the Maersk Venturer drill ship to drill the Hawkeye-1 prospect and the Company anticipates a spud date towards the end of July 2015. The well is expected to take less than a month to drill.

Outside of its existing operations in the Philippines, the Company also continues to review numerous additional exploration opportunities. This financing will further compliment Red Emperor’s existing cash resources of circa £6 million and enable the Company to move forward quickly should a suitable opportunity arise.

Application has been made to the London Stock Exchange for admission of the Placing Shares to trading on AIM (“Admission"). It is expected that Admission will become effective and that trading in the Placing Shares will commence on or around 1 July 2015. The Placing Shares will rank pari passu in all respects with existing ordinary shares in the Company.

Following Admission, the Company will have 425,292,776 ordinary shares in issue. 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.

For further information please visit www.redemperorresources.com or contact:

Red Emperor

Greg Bandy +61 8 9225 2826

Grant Thornton UK LLP

Philip Secrett/Jen Clarke/Jamie Barklem +44 20 7383 5100

Brandon Hill Capital Limited

Jonathan Evans +44 20 3463 5010
cashup
 
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Re: Back in here with a small punt ....

Post Thu Jun 25, 2015 7:24 am

And so they did, a bit earlier than expected.

Mike_Mac wrote:
> Hopefully the drill will have some success and they will use the funds to take part
> in another on the site. I wouldn't be surprised to see a capital raising at some
> point with a buoyant SP.
>
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