22 Jul 2011 11:28
22 July 2011 Red Emperor Resources NL ("Red Emperor" or "the Company") Issue of Options
Further to shareholder approval at a general meeting held on 15 July 2011, the Company is pleased to announce the issue of 9,226,162 new unlisted options as follows:
* 7,750,000 unlisted options exercisable at A$0.30 on or before 30 June 2012; and * 1,476,162 unlisted options exercisable at £0.305 on or before 20 July 2013.
Included within the 7,750,000 options described above, options issued to directors are as follows:
Name Ordinary % of Issued Existing Total % of Issued Shares Share Options Options Share Capital Held Capital Held Held Greg Bandy Nil Nil Nil 3,000,000 1.97% Jason Bontempo Nil Nil Nil 1,000,000 0.66% Stephen Brockhurst 250,001 0.16% Nil 500,000 0.33%
The issued share capital of the Company comprises 152,473,256 ordinary shares of no par value.
For further information please visit www.redemperorresources.com or contact:
Red Emperor
Greg Bandy +61 8 9225 2826
Cairn Financial Advisers LLP (Nominated Adviser)
Jo Turner +44 20 7148 7900
Tony Rawlinson
Old Park Lane Capital plc (Broker)
Luca Tenuta +44 20 7493 8188Michael ParnesTavistock CommunicationsPaul Youens +44 20 7920 3150Ed PortmanBackground
Red Emperor Resources NL is a natural resources exploration company with interests in the frontier state of Puntland, Somalia, the Republic of Georgia and Western Australia.
* In Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys in 2011. These two exploration areas cover nearly 40,000km2 and have independently been assessed to potentially contain over 19.9 billion barrels of oil in-place. * In the Republic of Georgia, Red Emperor has a 20% working interest in onshore blocks VIa and VIb, covering approx. 6,500km2. Partner Range Resources Ltd last year funded a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing an estimated 2.045 billion barrels of oilâ€"inâ€"place (on a mean 100% basis). Two wells are to be drilled this year as part of the proposed drill program. * The Company also has a 25% interest in the Jillewarra Project free carried until bankable feasibility study, which is a copper and gold project in Western Australia.