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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 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMRMP 12 April 2016 Red Emperor Resources NL ("Red Emperor") Quarterly Reports For The Period Ending 31 December 2015 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 31 March 2016. Philippines (SC 55) The joint venture is still awaiting a formal response from the Philippines Department of Energy (DoE) to its request for a two-year moratorium over Block SC 55. The request has been processed by the Petroleum Resources Development Division with the JV hopeful of written confirmation from the DoE in the coming weeks. The consortium intends to undertake further technical studies during the moratorium period, including a Quantitative Interpretation (QI) Study. As announced previously, Otto Energy Limited (ASX: OEL) has advised the JV of its intention to exit the Block SC 55 as part of its strategy to focus on its North American assets. Red Emperor intends to have its full, proportionate interest be assigned and as a result its working interest will increase from 15% to 37.5%. Georgia Red Emperor, a 20% shareholder of Strait Oil and Gas Limited (Strait), a Gibraltarian company with a valid Production Sharing Contract (PSC) across Block VIa in the Republic of Georgia, continues to be advised of ongoing negotiations with a potential purchaser of the PSC. Red Emperor understands that delays in reaching an agreement with the potential purchaser have been due to volatility in the oil and gas price and political instability in the region. Red Emperor is not involved in these negotiations and can provide no certainty as to the likelihood of a successful outcome. The market will be updated when further information becomes available. Corporate Over the course of the last 3 months, Red Emperor has reviewed and conducted high level due diligence on a number of projects and opportunities, both in the oil & gas and resources sector. While committed to its existing JV in the Philippines, the Board believes additional asset(s) would better diversify the Company and could potentially take advantage of the Company's substantial cash balance. To date, the Red Emperor has not progressed any of these opportunities beyond due diligence, however it remains committed and focused on identifying value for shareholders while at the same time, responsibly managing the Company's healthy cash position. 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/Jen Clarke/Jamie Barklem +44 20 7383 5100 Brandon Hill Capital Limited Jonathan Evans +44 20 3463 5010 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, 01/05/2013 Name of entity RED EMPEROR RESOURCES NL ABN Quarter ended ("current quarter") 99 124 734 961 31 March 2016 Consolidated statement of cash flows Current quarter Year to date (9 Cash flows related to operating activities $A'000 months) $A'000 1.1 Receipts from product sales and - - related debtors 1.2 Payments for (a) exploration & - (5,100) evaluation - - (b) - - development (282) (880) (c) production (d) administration 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 61 187 1.5 Interest and other costs of finance - - paid 1.6 Income taxes paid - - 1.7 Other: Refund of Hawkeye-1 well costs - 426 Net Operating Cash Flows (221) (5,367) Cash flows related to investing activities 1.8 Payment for purchases of: - - (a) prospects - - (b) - - equity investments (c) investment in associate 1.9 Proceeds from sale of: (a) - - prospects - - (b) - - equity investments (c) other fixed assets 1.10 Loans to other entities - - 1.11 Loans repaid by other entities - - 1.12 Other (provide details if material) - - Net investing cash flows - - 1.13 Total operating and investing cash flows (carried forward) (221) (5,367) 1.13 Total operating and investing cash flows (brought forward) (221) (5,367) Cash flows related to financing activities 1.14 Proceeds from issues of shares, - 5,600 options, etc. 1.15 Proceeds from sale of forfeited shares - - 1.16 Proceeds from borrowings - - 1.17 Repayment of borrowings - - 1.18 Dividends paid - - 1.19 Other - fundraising costs - (388) Net financing cash flows - 5,212 Net increase (decrease) in cash held (221) (155) 1.20 Cash at beginning of quarter/year to 12,251 12,494 date 1.21 Exchange rate adjustments to item 1.20 (160) (469) 1.22 Cash at end of quarter 11,870 11,870 Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities Current quarter $A'000 1.23 Aggregate amount of payments to the parties included 71 in item 1.2 1.24 Aggregate amount of loans to the parties included in Nil item 1.10 1.25 Explanation necessary for an understanding of the transactions Payment of Directors fees and Remuneration $71k Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows n/a 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest n/a Financing facilities available Add notes as necessary for an understanding of the position. Amount available Amount used $A'000 $A'000 3.1 Loan facilities - - 3.2 Credit standby arrangements - - Estimated cash outflows for next quarter $A'000 4.1 Exploration and evaluation - 4.2 Development - 4.3 Production - 4.4 Administration 200 200 Total Reconciliation of cash Reconciliation of cash at the end of the Current quarter Previous quarter quarter (as shown in the consolidated $A'000 $A'000 statement of cash flows) to the related items in the accounts is as follows. 5.1 Cash on hand and at bank 11,870 12,251 5.2 Deposits at call - - 5.3 Bank overdraft - - 5.4 Other (provide details) - - Total: cash at end of quarter (item 11,870 12,251 1.22) Changes in interests in mining tenements and petroleum tenements Tenement Nature of Interest at Interest at reference interest beginning of end of (note (2)) quarter quarter
(MORE TO FOLLOW) Dow Jones Newswires
April 12, 2016 09:26 ET (13:26 GMT)
6 Interests in See Appendix 1 - - - mining tenements below held 6.1 Interests in mining - - - tenements tenements - relinquished, reduced or lapsed 6.2 Interests in mining tenements tenements - - - - acquired or increased Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. Total number Number quoted Issue price Amount paid up per security per security (see note 3) (see note 3) (cents) (cents) 7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions 7.3 +Ordinary 425,292,776 425,292,776 Fully Paid securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs 7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options Exercise Price Expiry Date 4,500,000 - $0.055 31 December 4,320,000 $0.08 2017 2 July 2018 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter 7.11 Debentures (totals only) 7.12 Unsecured notes (totals only) Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5). 2 This statement does give a true and fair view of the matters disclosed. Sign here: Date: 12 April 2016 Print name: GREG BANDY Managing Director 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 wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2. 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 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. 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. == == == == == Appendix 1 - Interests in mining tenements held Tenement Location Acquired/ Working Reference Working Interest (Disposed) Interest at End at of Quarter Beginning of Quarter Block Vla Republic of 20% - 20% Georgia Service Contract Philippines 15% - 15% 55 Holder: Oil & Gas Beneficial percentage interests held in farm-in or farm- out agreement. Mining tenements acquired and disposed during the March 2016 quarter: Nil Beneficial percentage interests in farm-in or farm-out agreements acquired or disposed of during the March 2016 quarter: Nil END
(END) Dow Jones Newswires
April 12, 2016 09:26 ET (13:26 GMT)
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