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Red Emperor Share Chat (RMP)



Share Price: 2.30Bid: 2.10Ask: 2.50Change: 0.00 (0.00%)No Movement on Red Emperor
Spread: 0.40Spread as %: 19.05%Open: 2.30High: 2.30Low: 2.30Yesterday’s Close: 2.30


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show.me
Posts: 445
Observation
Opinion:No Opinion
Price:2.50
punty is valued at zero atm.
20 Oct '14
This is very positive progress imo
 
SirBob
Posts: 1,283
Observation
Opinion:No Opinion
Price:2.50
Relief
20 Oct '14
To know I now only have to hold for 9 years more! lol
HH68
Posts: 146
Off Topic
Opinion:No Opinion
Price:2.50
View Thread (2)
Article in full
20 Oct '14
http://mlnk.co/kgzjf

Hopefully with main players in attendance today (incl. Keith Hill and Mark Dingley), progress towards resumption of operations will be made.
cookiecrew
Posts: 7,174
Off Topic
Opinion:No Opinion
Price:2.50
View Thread (2)
RE: World Energy News Article
20 Oct '14
Thanks good read
HH68
Posts: 146
Off Topic
Opinion:No Opinion
Price:2.50
View Thread (2)
World Energy News Article
20 Oct '14
Somalia Aims to Get Oil Flowing by 2020
Posted by Michelle Howard October 20, 2014

Call for oil majors to lift force majeure
Petroleum ministry talking with regional governments
Improved offshore security should enable exploration

Somalia aims to produce oil within six years, Petroleum Minister Daud Mohamed Omar said on Monday, as he announced plans to reassert control over a sector which has foundered since the outbreak of civil war in 1991.

Hopes that the impoverished East African nation could emulate neighbouring Kenya by discovering and bringing to market offshore resources have been kept on ice by long-running territorial disputes between regional authorities.

The Ministry of Petroleum and Mineral Resources has drafted bills for revenue sharing and downstream development, and submitted them to state governments for approval, Omar said in a statement read by an interpreter at the second annual Somalia Oil and Gas summit in London.

He added that the ministry, created less than a year ago, was the only legitimate authority in the sector and that deals signed with regional governments were illegal.

The federal government is in talks with international oil companies, including Shell, to revive contracts which were put under force majeure in 1991, Omar said.

He said the government would protect the rights of concession holders, but warned companies not to "sit on the nation's assets" by keeping the force majeure clauses in place.

Force majeure clauses temporarily absolve a company of its contractual obligations due to events beyond its control, including armed conflict.

Omar said that offshore production should begin in six years, and onshore production in nine years.

Alirio Parra, former energy minister of Venezuela who was involved in organising the conference, said Somalia faced many challenges associated with building a sector from the ground up, including developing a workforce, installing infrastructure and accessing finance.

No Time to Waste
The ministry aims to bring in new investors to achieve these goals, including small oil companies which Omar praised for their flexibility and quick start-up times.

"Somalia does not have time to waste," he added.

Soma Oil & Gas, a British company working exclusively in Somalia, is conducting offshore seismic exploration which it expects to complete by early 2015.

Chief executive Robert Sheppard said that if the results were promising, the company would begin shooting 3D seismic and drilling exploration wells under a production sharing agreement with the government.

He added that the seismic teams had not suffered any security incidents during several months of offshore activities.

Somalia's coastline is a hotspot for piracy, though a NATO task force and a growing private security industry have partially offset the risk.

Much will depend on whether the ministry can push through a deal with regional governments to jointly ad
cookiecrew
Posts: 7,174
Observation
Opinion:No Opinion
Price:2.60
View Thread (2)
RE: Oilriches
20 Oct '14
We sold Georgia yet???
Wassatt
Posts: 32,512
Off Topic
Opinion:No Opinion
Price:2.74
View Thread (2)
Oilriches
20 Oct '14
Well things are certainly looking brighter here at the beginning if this week, a nice rise today so far, long may it continue
oilriches
Posts: 5,138
Off Topic
Opinion:No Opinion
Price:2.30
puntland and georgia
19 Oct '14
Are worth nothing to me until we get an rns confirming something! I know horn are meeting puntland government later this month.
SirBob
Posts: 1,283
Off Topic
Opinion:No Opinion
Price:2.30
Jeffry
17 Oct '14
JLP - certainly potential....although many similar companies on Aim, potential wise, all down to management quality on the AIM casino......prefer NIPT who I think will be a big one...50p within six months, quid in a year plus...proven, performance bonuses management team...very rare on AIM
SirBob
Posts: 1,283
Off Topic
Opinion:No Opinion
Price:2.30
Everyone flying
17 Oct '14
Except us!





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