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Red Emperor Resources raises £2.8m in placing

Tue, 08th Jan 2019 11:47

(Sharecast News) - Red Emperor Resources announced an oversubscribed placing to certain new and existing institutional and sophisticated investors, via its UK and Australian brokers on Tuesday, of 100 million new ordinary shares at an issue price of 2.8p each, to raise £2.8m before expenses.The AIM-traded firm said the placing utilised its existing share capital authorities, and was conditional on admission of the placing shares to trading on AIM.Following admission, the placing shares would represent 19.04% of the company's enlarged issued share capital."The net proceeds from the placing will be used to augment the company's general working capital and provide contingency, as the company prepares for the upcoming drilling of the Winx-1 exploration well and potential appraisal activities in the Alaska North Slope, where the company has a 31.5% working interest," the Red Emperor board said in its statement."The Winx prospect is a 3D seismic defined conventional oil prospect in the successful Nanushuk play fairway with a gross mean unrisked prospective resource of 400 million barrels - 126 MMbbls net to Red Emperor - and is adjacent to the Horseshoe 1/1A discovery well drilled by the Armstrong/Repsol JV in 2017."In addition, Red Emperor Resources said it had agreed to issue, in aggregate, six million warrants to its brokers and corporate adviser, exercisable at a price of 2.8p per new ordinary share, for a period of 36 months from their date of issue.

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5 Feb 2019 09:52

88 Energy, Red Emperor Start Moving Rig Towards Alaska Well

LONDON (Alliance News) - 88 Energy Ltd and its partner Red Emperor Resources NL said Tuesday the rig at the Winx-1 exploration well has started to move.This follows the completion of the of

31 Jan 2019 14:23

Red Emperor Resources Reports Near Completion Of Winx-1 Ice Road

LONDON (Alliance News) - Red Emperor Resources NL on Thursday said the ice road construction at its Winx-1 exploration well located in the US state of Alaska is now nearing of the ice road is now

24 Jan 2019 10:26

88 Energy, Red Emperor Reports Near Completion Of Winx-1 Ice Road

LONDON (Alliance News) - 88 Energy Ltd and its partners said Thursday the ice road construction at its Winx-1 exploration well located in the US state of Alaska was now nearing separate Thursday,

17 Jan 2019 10:01

88 Energy, Pantheon And Red Emperor Jump On Alaska Permit Approval

LONDON (Alliance News) - 88 Energy Ltd and its partners said Thursday they had been granted a drilling permit for the Winx-1 exploration well located in the US state of Alaska, adding that the ice

8 Jan 2019 09:16

Red Emperor Raises GBP2.8 Million Via Share Issue To Fund Drilling (ALLISS)

LONDON (Alliance News) - Red Emperor Resources NL on Tuesday said it raised GBP2.8 million in a share placing to provide working capital and fund the upcoming drilling of the Winx-1 exploration in

7 Jan 2019 09:59

Red Emperor Resources, 88 Energy Start Ice Road Construction In Alaska

LONDON (Alliance News) - Red Emperor Resources NL on Monday said construction has started on an 11-mile ice road at its Winx-1 exploration well, in the North Slope of Alaska.The company is

17 Sep 2018 11:29

Red Emperor Resources Narrows Loss On Swing To Currency Gain

LONDON (Alliance News) - Red Emperor Resources NL on Monday said its annual loss narrowed as it swung to a gain on foreign exchange.Shares in Red Emperor were down 4.4% at 2.96 pence on its

29 Aug 2018 10:53

88 Energy Secures Rig For Drilling On Alaska's Winx Prospect

LONDON (Alliance News) - 88 Energy Ltd said on Thursday it has secured a rig contract for drilling work at the company's Winx prospect on Alaska's North Slope.The rig has been from

30 Jul 2018 10:22

Red Emperor And 88 Energy Pen Agreements For Alaskan Leases

LONDON (Alliance News) - Red Emperor Resources NL and 88 Energy Ltd on Monday said they have signed agreements to buy stakes in four leases on the western flank of Alaska's North two companies

19 Apr 2018 13:37

Red Emperor Resources Ups Interest In Palawan Basin Block To 38%

LONDON (Alliance News) - Red Emperor Resources NL said on Thursday it has received national support for the transfer of interest under service contract 55, offshore Palawan Basin in the oil and of

15 Mar 2018 14:31

UPDATE 1-Natgas producer EQT's CEO resigns, former chief at helm in interim

March 15 (Reuters) - Natural gas producer EQT Corp said on Thursday Steven Schlotterbeck had resigned immediately as chief executive officer, just over a year after he took charge. The said

25 Oct 2016 11:23

Red Emperor Resources updates market on quarterly progress

(ShareCast News) - Red Emperor Resources posted an update for the quarter to 30 September on Tuesday, confirming all relevant documentation for the transfer of Otto Energy's equity interest in Block SC 55 was prepared by Otto during the period. The AIM-traded firm said the documentation was also app

17 Jun 2016 07:14

Red Emperor Gets 2-Year Moratorium For Philippines Joint Venture

14 Mar 2016 09:48

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