TIDMRMP
28 June 2012
Red Emperor Resources NL
("Red Emperor" or "the Company")
New Significant Shareholding
Red Emperor Resources NL (ASX: RMP | AIM: RMP) was notified on 26 June 2012
that JPMorgan Asset Management (UK) Limited has purchased, at prices of between
18p to 20p per ordinary share, 13,325,000 ordinary shares in Red Emperor,
representing approximately 5.15 per cent of the issued share capital of the
Company.
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
Ed Portman +44 20 7920 3150
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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