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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Red Emperor Resources Nl | LSE:RMP | London | Ordinary Share | AU000000RMP0 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.76 | 0.74 | 0.78 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMRMP
RNS Number : 3430N
Red Emperor Resources NL
25 October 2016
25 October 2016
Red Emperor Resources NL ("Red Emperor")
Quarterly Reports
For The Period Ending 30 September 2016 and Appendix 5B
The Board of Red Emperor Resources NL ("Red Emperor" or the "Company") provides the following commentary and Appendix 5B for the period ending 30 September 2016.
Philippines (SC 55)
During the quarter, all relevant documentation for the transfer of Otto Energy Limited's (ASX: OEL "Otto") equity interest in Block SC 55 was prepared by Otto, approved by the Joint Venture and has now been submitted to the Philippines Department of Energy (DoE) for final approval. Once ratified by the DoE, Red Emperor's equity interest will increase from 15% to 37.5%.
In June this year, the DoE formally granted a two-year moratorium, until 23 December 2017, on required work activity under Service Contract 55. During the moratorium period, the JV will conduct specialised geophysical studies in the area surrounding the Hawkeye Prospect, which encountered gas shows when it was drilled last year. Although the Hawkeye well did not encounter gas in commercial quantities, it proved the presence of an active petroleum system in the contract area that hosts the "Cinco Prospect" as well as several other leads.
Georgia
Sale negotiations continue with at least one interested party for the purchase of Block VIa. Red Emperor is not involved in the negotiations, although remains a 20% shareholder of Strait Oil and Gas Ltd which currently holds the Production Sharing Contract across Block VIa.
Corporate
The Board is currently reviewing a number of opportunities, both at specific asset level as well as at a corporate level and believes it is well placed to advance these discussions further during the current quarter.
For further information please visit http://www.redemperorresources.com/ or contact:
Red Emperor
Greg Bandy +61 8 9212 0102
Grant Thornton UK LLP
Philip Secrett / Jamie Barklem +44 20 7383 5100
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Hot Features
Premium
Name of entity
-------------------------------------------
RED EMPEROR RESOURCES NL
-------------------------------------------
ABN Quarter ended ("current
quarter")
--------------- ------------------------
99 124 734 961 30 September 2016
--------------- ------------------------
Consolidated statement Current quarter Year to date
of cash flows $A'000
(3 months)
$A'000
--------------------------------------- ---------------- -------------
1. Cash flows from operating
activities
1.1 Receipts from customers - -
1.2 Payments for
(a) exploration & evaluation - -
(b) development - -
(c) production - -
(d) staff costs - -
(e) administration
and corporate costs (279) (279)
1.3 Dividends received - -
(see note 3)
1.4 Interest received 44 44
1.5 Interest and other - -
costs of finance paid
1.6 Income taxes paid - -
1.7 Research and development - -
refunds
1.8 Other (provide details - -
if material)
---------------- -------------
Net cash from / (used
1.9 in) operating activities (235) (235)
----- -------------------------------- ---------------- -------------
2. Cash flows from investing
activities
2.1 Payments to acquire:
(a) property, plant
and equipment - -
(b) tenements (see - -
item 10)
(c) investments - -
(d) other non-current - -
assets
2.2 Proceeds from the disposal
of:
(a) property, plant
and equipment - -
(b) tenements (see - -
item 10)
(c) investments - -
(d) other non-current - -
assets
2.3 Cash flows from loans - -
to other entities
2.4 Dividends received - -
(see note 3)
2.5 Other (provide details - -
if material)
---------------- -------------
2.6 Net cash from / (used - -
in) investing activities
------- ------------------------------ ---------------- -------------
3. Cash flows from financing
activities
3.1 Proceeds from issues
of shares - -
3.2 Proceeds from issue - -
of convertible notes
3.3 Proceeds from exercise - -
of share options
3.4 Transaction costs related - -
to issues of shares,
convertible notes or
options
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
3.7 Transaction costs related - -
to loans and borrowings
3.8 Dividends paid - -
3.9 Other (provide details - -
if material)
---------------- -------------
3.10 Net cash from / (used - -
in) financing activities
------- ------------------------------ ---------------- -------------
4. Net increase / (decrease)
in cash and cash equivalents
for the period
Cash and cash equivalents
4.1 at beginning of period 11,715 11,715
Net cash from / (used
in) operating activities
4.2 (item 1.9 above) (235) (235)
4.3 Net cash from / (used
in) investing activities - -
(item 2.6 above)
4.4 Net cash from / (used
in) financing activities - -
(item 3.10 above)
Effect of movement
in exchange rates on
4.5 cash held (95) (95)
---------------- -------------
Cash and cash equivalents
4.6 at end of period 11,385 11,385
------- ------------------------------ ---------------- -------------
5. Reconciliation of cash Current quarter Previous
and cash equivalents $A'000 quarter
at the end of the quarter $A'000
(as shown in the consolidated
statement of cash flows)
to the related items
in the accounts
---- ------------------------------- ---------------- ---------
5.1 Bank balances 11,385 11,716
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
---------------- ---------
Cash and cash equivalents
at end of quarter (should
5.5 equal item 4.6 above) 11,385 11,716
---- ------------------------------- ---------------- ---------
6. Payments to directors of the entity Current quarter
and their associates $A'000
----------------
Aggregate amount of payments to
these parties included in item
6.1 1.2 65
----------------
6.2 Aggregate amount of cash flow -
from loans to these parties included
in item 2.3
----------------
6.3 Include below any explanation necessary
to understand the transactions included
in items 6.1 and 6.2
---- --------------------------------------------------------
Payment of Directors Fees and Remuneration -
$65k
--------------------------------------------------------------
7. Payments to related entities of Current quarter
the entity and their associates $A'000
----------------
7.1 Aggregate amount of payments to -
these parties included in item
1.2
----------------
7.2 Aggregate amount of cash flow -
from loans to these parties included
in item 2.3
----------------
7.3 Include below any explanation necessary
to understand the transactions included
in items 7.1 and 7.2
---- --------------------------------------------------------
N/A
--------------------------------------------------------------
8. Financing facilities Total facility Amount drawn
available amount at at quarter
Add notes as necessary quarter end end
for an understanding $A'000 $A'000
of the position
--------------- -------------
8.1 Loan facilities - -
--------------- -------------
8.2 Credit standby arrangements - -
--------------- -------------
8.3 Other (please specify) - -
--------------- -------------
8.4 Include below a description of each facility
above, including the lender, interest rate
and whether it is secured or unsecured.
If any additional facilities have been entered
into or are proposed to be entered into
after quarter end, include details of those
facilities as well.
---- ------------------------------------------------------------
N/A
------------------------------------------------------------------
9. Estimated cash outflows $A'000
for next quarter
---- ------------------------------ --------
9.1 Exploration and evaluation -
9.2 Development -
9.3 Production -
9.4 Staff costs -
Administration and corporate
9.5 costs 200,000
9.6 Other (provide details if -
material)
--------
9.7 Total estimated cash outflows 200,000
---- ------------------------------ --------
10. Changes in Tenement Nature of interest Interest Interest
tenements reference at beginning at end
(items 2.1(b) and location of quarter of quarter
and 2.2(b)
above)
----- ---------------------- -------------- ------------------- -------------- ------------
10.1 Interests N/A
in mining
tenements
and petroleum
tenements
lapsed, relinquished
or reduced
----- ---------------------- -------------- ------------------- -------------- ------------
10.2 Interests N/A
in mining
tenements
and petroleum
tenements
acquired
or increased
----- ---------------------- -------------- ------------------- -------------- ------------
Compliance statement
1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters disclosed.
Sign here: Date: 25 October 2016
(Company secretary)
Print name: Aaron Bertolatti
Notes
1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCAKPDBQBDKFKB
(END) Dow Jones Newswires
October 25, 2016 02:05 ET (06:05 GMT)
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