TIDMRMP
26 June 2012
Red Emperor Resources NL
("Red Emperor" or "the Company")
Issue of Equity and Capital Structure Update
Red Emperor Resources NL (ASX | AIM: RMP), the oil and gas exploration company
with interests in Puntland and Georgia, announces that it has received notice
to exercise unlisted options over 250,000 ordinary shares at an exercise price
of AUD$0.30 per share, raising approximately AUD$75,000 for the Company.
Application has been made for admission of the newly issued shares to trading
on AIM which is expected to occur on or around 27 June 2012.
Following admission of these shares, the Company will have 258,734,221 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.
For further information please visit www.redemperorresources.com or contact:
Red Emperor
Greg Bandy +61 8 9225 2826
Rebecca Sandford +44 20 7025 7040
Cairn Financial Advisers LLP (Nominated Adviser)
Jo Turner +44 20 7148 7900
Tony Rawlinson
Fox-Davies Capital Limited (Joint Broker)
Daviel Fox-Davies +44 20 3463 5000
Richard Hail
Old Park Lane Capital plc (Joint Broker)
Luca Tenuta +44 20 7493 8188
Michael Parnes
Tavistock Communications
Paul Youens +44 20 7920 3150
Ed Portman
Background:
Red Emperor Resources NL (ASX: RMP | AIM: RMP) is a 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 the Dharoor and
Nugaal Valley Production Sharing Agreements (PSA) along with Horn Petroleum
Corp. (TSXV: HRN) and Range Resources Limited (ASX: RRS | AIM: RRL). These
two exploration areas cover over 36,000km2. Horn, the operator and 60%
interest holder, has completed drilling the first well (Shabeel 1) in a two
well program and has now spudded the second well (Shabeel North). Target
Depth for Shabeel North is 2,400m with the primary target being Upper
Cretaceous Jesomma sands, which had good oil and gas shows and 12 . 20m
of potential net pay in the Shabeel 1 well 3.5 kilometers to the south. Shabeel
1 will be flow tested following completion of Shabeel North.
* 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 undiscovered oil-in-place (on a mean 100% basis) with the first
(Mukhiani-1) of two conventional exploration wells having spudded in July
2011. The Joint Venture is now focussing on a revised development strategy
that will target low-cost, shallow appraisal drilling of the contingent
resources around the Tkibuli Shaori (Tkibuli) coal deposit, which straddles
the central sections of the two blocks.
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