Red Emperor Resources NL

» Posted on Jan 5, 2011

Red Emperor Resources NL is an ASX listed (ASX: RMP) natural resource exploration company with oil & gas interests in the frontier state of Puntland, Somalia and the Republic of Georgia.

In Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys with plans to drill two wells, Africa Oil Corp (TSXV:AOI) – 45% Operator, in 2011. These two exploration areas have independently been assessed to potentially contain over 18b barrels of oil.

In the Republic of Georgia, Red Emperor holds a 20% farm‐in interest in onshore blocks VIa and VIb, covering approx. 7,000sq.km. Red Emperor’s JV partner, Range Resources Limited (ASX: RRS; AIM: RRL) has recently completed a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing and estimated 2.045b barrels of oil in place.

The Company also has a 25% interest in the Jillewarra Project free carried until bankable feasibility study, which is a copper and gold project in Western Australia.

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