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Caps Lock on… DAVID LENIGAS on this week’s Share Views!! Watch here

Share Views Episode 10 - DAVID LENIGAS talks Gatwick Gusher and AAAP


Red Emperor Share Chat (RMP)



Share Price: 1.195Bid: 1.00Ask: 1.39Change: 0.00 (0.00%)No Movement on Red Emperor
Spread: 0.39Spread as %: 39.00%Open: 1.195High: 1.195Low: 1.195Yesterday’s Close: 1.195


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volley
Posts: 2,345
Observation
Opinion:No Opinion
Price:1.0425
re Georgia
29 Nov '15
RMP were to earn a 20% working interest in Georgia IF we paid 40% of drilling two wells. I don't know if that happened. As far as I can tell so far, no drills were done and Range relinquished block VIb. Range still have rights to block VIa.

Range owned 45% of Strait and were iun dispute with the company over its failure to act on Georgia.

http://www.investegate.co.uk/range-resources-ltd--rrl-/rns/georgia-project-update/201504290815106590L/

I have no idea where that leaves RMP and am very unhappy that we have been told nothing other than this on October 21.

http://www.investegate.co.uk/red-emperor-resources-nl--rmp-/prn/quarterly-reports-for-the-period-end-30-septemb---/20151021125029PD5A0/

The above was announced approx three weeks before Strait wound up. Bandy has not fulfilled his promise to keep the market updated on developments. Surely the operator of Georgia going under requires the market to be told by RMP?

VERRRRRRY UNHAPPPPPY!!!
 
volley
Posts: 2,345
Observation
Opinion:No Opinion
Price:1.0425
Oilriches
29 Nov '15
Like I said earlier, it appears Strait Oil and Gas UK have been wound up.

https://www.endole.co.uk/company/05971677/strait-oil-gas-uk-ltd

I have emailed RMP to ask why has there not been an RNS to notify us of this and an explanation for what has happened to our Georgia asset which was supposed to be sold at the end of this year, according to Bandy a couple of months ago.

So you are not just interested in the cash in the bank now.
oilriches
Posts: 9,502
Off Topic
Opinion:No Opinion
Price:1.0425
Little
28 Nov '15
Correction in share price. Hope we get some good news soon.
Islandgirl
Posts: 1,573
Off Topic
Opinion:No Opinion
Price:1.0425
RE: Bolgas
27 Nov '15
How about Alaska?
Bckttsim
Posts: 1,684
Off Topic
Opinion:No Opinion
Price:1.00
RMP
27 Nov '15
£6mil in bank m/c seems to be £2 mil below
Should be 1.5p just for cash
oilriches
Posts: 9,502
Off Topic
Opinion:No Opinion
Price:0.9775
RE: Bolgas
27 Nov '15
Cash burn is circa £700k a year. we have a refund still to come. with interest on income we will burn about £500k a year. I have had a response from Otto and it sounds like sc55 will be going to another party to drill cinco. Must admit that bandy does not have a clue how to invest in in good quality producing assets.
TinManTom
Posts: 511
Off Topic
Opinion:No Opinion
Price:0.9775
RE: Bolgas
26 Nov '15
Do you not feel that approx £6M in the bank is also earning a nice amount ??? Quietly confident. DYOR.
CrustyPete
Posts: 3,016
Observation
Opinion:Hold
Price:0.9775
RE: Bolgas
26 Nov '15
Cash may be worth 1.5p but will be reducing daily....
oilriches
Posts: 9,502
Off Topic
Opinion:No Opinion
Price:0.975
Volly
25 Nov '15
My only interest at the moment is cash in bank that is worth 1.5p. Bandy has flipped too many coins for heads here
volley
Posts: 2,345
Off Topic
Opinion:No Opinion
Price:0.975
re Otto
25 Nov '15
I agree. Structured exit is the key whatever that means. I take it the building blocks have to be in place before they leave.

My post of a few weeks ago is still a possibility. I speculated that Hawkeye was to find out if the oil had migrated from SC55 or there was more of the black stuff.. If we struck big, we would have been quids in - with no doubt other partners.

Otto now want to move on to further tackle Tanzania, Alaska and nearby. They will have to get funding for that. So a sale of SC55 - if it is worth anything - could be on the cards to Shell?

All speculation of course, but lip-smackingly tasty if it is true - and oilriches, we shouldn't have to wait until the end of the year to see a nice jump in the SP.

BTW, what do you think about Strait apparently going under?




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