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RMP Red Emperor Resources Nl

0.76
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Red Emperor Resources NL Quarterly Reports and Appendix 5B

12/04/2016 2:26pm

UK Regulatory


 
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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