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Red Emperor Share Chat (RMP)



Share Price: 0.97Bid: 0.74Ask: 1.20Change: 0.03 (+3.19%)Riser - Red Emperor
Spread: 0.46Spread as %: 62.16%Open: 0.94High: 0.00Low: 0.00Yesterday’s Close: 0.94


Share Discussion for Red Emperor


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Islandgirl
Posts: 2,853
Off Topic
Opinion:No Opinion
Price:0.94
RE: Incompetent CEO
Mon 08:38
Bandy hits the post again
 
JonTangle
Posts: 668
Off Topic
Opinion:No Opinion
Price:0.94
RE: Incompetent CEO
Mon 01:03
Latest results are out.

Is that Charlatan 'Oilriches' still on here?
SirBob
Posts: 1,447
Observation
Opinion:No Opinion
Price:0.94
View Thread (2)
Incompetent CEO
Fri 16:10
We just need to find another CEO whose in it for the salary like Bandy to buy the Philippines off us!
I still recall Bandy saying in oil price slump how we were poised to take advantage of the subdued market.....still waiting as oil hits a new three year high.....pathetic appalling individual, who is sadly earning a living off us all....
Lofty45
Posts: 1,176
Off Topic
Opinion:No Opinion
Price:1.00
RE: RNS
19 Apr '18
How does the song go? .....
GPRD
Posts: 47
Off Topic
Opinion:No Opinion
Price:1.00
RE: RNS
19 Apr '18
So we now own 37.5% of nothing!
vanguard
Posts: 875
Off Topic
Opinion:No Opinion
Price:0.94
RNS
19 Apr '18
RNS Number : 4308L

Red Emperor Resources NL

19 April 2018


19 April 2018

Red Emperor Resources NL ("Red Emperor")

SUCESSFUL TRANSFER OF PARTICIPATING INTERESTS UNDER SERVICE CONTRACT NO. 55 (SC55)

The Board of Red Emperor Resources NL ("Red Emperor" or the "Company") is pleased to provide the following update with respect to Service Contract 55 (SC55), offshore Palawan Basin in the Philippines.

This week the Company finally received official confirmation from the Philippine Department of Energy (DoE) ratifying the request for the transfer of participating interests in Service Contract no. 55 (SC55) from Otto Energy Limited (ASX: OEL) to its partners, Century Red Pte. Ltd (a 100% owned subsidiary of Red Emperor Resources NL), PaIawan55 Exploration & Production Corporation and Pryce Gases, Inc.

Red Emperor's equity interest in Block SC 55 is now 37.5% (previously 15%) after the DoE found the partners to be "Financially qualified to assume the proposed interests. Legally qualified to assume the participating interest from Otto Energy considering that they are existing petroleum companies operating either as operator and/or consortium members in petroleum service contracts; And technically qualified, as exemplified by the joint cooperation and completion of previous exploration activities, such as the drilled Hawkeye-1 well."

As a result, the participating interests in SC55 are as follows:

Company Participating Interests
Palawan55 Exploration & Production Corporation (Operator) 37.50%
Century Red Pte. Ltd (Red Emperor Resources) 37.50%
Pryce Gases, Inc. 25.00%
Total 100%

It is also understood that Palawan55 Exploration & Production Corporation will be the "Operator" of SC 55 as endorsed by the other remaining partners.

Likewise, the timeline for the moratorium period and Sub-Phase (SF) 5 has now been revised to reflect the transfer of interest. It is understood that the minimum work program and budget for the moratorium period and SF 5 are unaffected by the transfer of interest, as shown below:

Sub-Phase (SP) Work Program and Budget (WP&B)
Moratorium Period
(Date of approval of transfer until 13 months thereafter)
Conduct a Qualitative Interpretation (QI) study of the greater Hawkeye area, lithology and petrophysical modeling and a contingent program of AVO studies = US$ 478,750
SP5
(date of end of moratorium period until 12 months thereafter) Drill one (1) Ultra-deepwater well = US$ 3,000,000.00

As nominated "Operator" Palawan55 has suggested that partners hold an Operating Committee Meeting to formalise their appointment as successor Operator, establish an Operating Committee and agree on related amendments to the JOA.

With respect to the committed work program, Palawan55 are currently conducting an inventory of the technical data
Linton78
Posts: 636
Off Topic
Opinion:No Opinion
Price:0.94
Dire...
18 Apr '18
The spread is a joke... and so is the company these days!

there should be rules around the spread for AIM companies.
Islandgirl
Posts: 2,853
Off Topic
Opinion:No Opinion
Price:0.68
RE: What to do
18 Apr '18
What a huge spread.Mms dont want any trades..no wonder they must be up to their necks in sold shares
Aji_tsuri
Posts: 3
Off Topic
Opinion:Hold
Price:1.075
RE: What to do
16 Apr '18
Will be interesting to watch what happens with OGY - change of name, directors, direction, and consolidating shares on a 2 to 1...
cashforquestions
Posts: 5
Off Topic
Opinion:No Opinion
Price:0.875
RE: What to do
13 Apr '18
Maybe with more knowledge might be able to look into this better.

Orca Energy (OGY - was on ASX) looks like it maybe coming back on ASX, according to this link.
https://hotcopper.com.au/asx/ogy/
Look at top 3 or so messages in threads from ASX News

Looks like Bandy (you will see the same names as Directors on both RMP and Orca) are relisting Orca with another name, but making sure that they have projects to go with it.

Not sure if this means that the relisting on ASX will happen once California projects are off and running. So might have to wait until RMP gets relisted on ASX until we hear more.




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