We now have 37.5% of sc55 with a rising oil price.....this bit is interesting 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.
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