Member Info for oilriches

The two year moratorium allows Rmp to hold 37.5% of sc55 at no cost or work commitment. The hope is that they can farm this down in an improving market. Otto got out of the Phillipines at the low oil price as they know majors won't be spending on exploration in the short term. Remember Bhp wanted to drill cinco and have spent over $50m on 3D. It's one that will attract majors at a $80 oil price

Agreed cookie. Expect a new asset in the next 3 months now that no expenditure is required on sc55. Can see this back at 5p on a decent acquisition

Hi. its in November, we have the support to call an egm now. its a case of voting down certain proposals at agm. I am sitting and happy to wait until then. we want results or a new bod

Thai that will only keep him in a job longer. Agm egm will get rid of this board

41 out of 42 people blame the bod for poor performance (98%)

Results published tomorrow

http://freeonlinesurveys.com/s/HxJ34l4Y

Yeah no news or activity, it's a waiting game!!!

With shares is buy when others fear.....these will come good

Minden fair comment. The long termers are unlikely to see the previous highs in 2012 or maybe 2015 for that matter. Over the next 18months this level is a bargain, but for the long term value, I don't see it here unless they get a discovery.

It won't matter if a deal happens today or in 6 months. The oil market is distressed and will continue to be in the short term. If red emperor don't find that opportunistic asset before the AGM the opportunity will have passed and 3 key investors will be looking at removing the ceo with a replacement. I am confident when the opportunity comes to vote, most retail investors will be looking for new leadership....the current board still have the chance to correct things but investors are getting frustrated.

Rmp have over £6m in cash.....Rmp are hoping the sector improves and they can farm down to a major....in this environment we don't have a chance. However at $70-$80 a barrel it could get interesting.....we need time

Want it over or equal to cash levels mate

I have looked at this over and over again and it's a very poor deal in my opinion. I assume AR just wanted a small deal in new with all the added complexities of the existing board. Anyone with an average of 0.07 plus might be in for a tough time here. AR and his chums taking part in the placing will be set to benefit

Quiet here, still waiting for 1.5p

The asset is only valued at circa £3m. As I thought all the way along all the focus is on Fri. I expect a placing at 0.04 at best

On asx

Looks a right load of rubbish....I don't see the deal going ahead with the current board in place

Agreed, however many companies have obligations to drill. I don't expect a drill this year but certainly expect an asset....we want a drill when the oil price sector is on the up and any bull market could see stupid gains here, we just need a bit of luck. The Rmp board and uk and Aussie brokers own 20% of this company....the question is why???? I do think you will see 5p in the future within 18months but to maintain such a price they need discoveries. Gl

Pretty sure we will get an asset before the AGM or the board face a little embarrassment on the vote outcome. The current board are not proactive at all and may end up burning them as investors are getting bored. I am happy to add now and again at these levels