FME - Future Metals
- Thread starter kelvin8r
- Start date
- Joined
- 27 September 2009
- Posts
- 122
- Reactions
- 0
RMP - Red Emperor Resources
This is a stock that is related in a roundabout fashion to Range Resources Limited, a bit like Aussie and New Zealand. The directors in RMP have had a long association with RRS and in another guise 2 directors run Max Capital who have provided financing for capital raisings for RRS.
Seeing the success of Range Resources these directors took the step of directly investing their own listed vehicle, RMP in 2 Range Resources projects. The first was Puntland in Somalia where for the same percentage interest (20%) they slipped in under the radar for a very cheap entry. They did this trick again in January buying into Range resources Republic of Georgia deal taking a 20% interest for 40% of well costs capped at $5.7m. Essentially they have a very similar exposure profile to 2 or Range's main projects but at a lower entry cost and with little opportunity cost.
A rundown from the Red Emperor website says;
"Red Emperor Resources NL is an ASX listed (ASX: RMP) natural resource exploration company with oil & gas interests in the frontier state of Puntland, Somalia and the Republic of Georgia.
• In Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys with plans to drill two wells, Africa Oil Corp (TSXV:AOI) – 45% Operator, in 2011. These two exploration areas have independently been assessed to potentially contain over 18b barrels of oil.
• In the Republic of Georgia, Red Emperor holds a 20% farm‐in interest in onshore blocks VIa and VIb, covering approx. 7,000sq.km. Red Emperor’s JV partner, Range Resources Limited (ASX: RRS; AIM: RRL) has recently completed a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing and estimated 2.045b barrels of oil in place.
• 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."
This is a stock that is related in a roundabout fashion to Range Resources Limited, a bit like Aussie and New Zealand. The directors in RMP have had a long association with RRS and in another guise 2 directors run Max Capital who have provided financing for capital raisings for RRS.
Seeing the success of Range Resources these directors took the step of directly investing their own listed vehicle, RMP in 2 Range Resources projects. The first was Puntland in Somalia where for the same percentage interest (20%) they slipped in under the radar for a very cheap entry. They did this trick again in January buying into Range resources Republic of Georgia deal taking a 20% interest for 40% of well costs capped at $5.7m. Essentially they have a very similar exposure profile to 2 or Range's main projects but at a lower entry cost and with little opportunity cost.
A rundown from the Red Emperor website says;
"Red Emperor Resources NL is an ASX listed (ASX: RMP) natural resource exploration company with oil & gas interests in the frontier state of Puntland, Somalia and the Republic of Georgia.
• In Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys with plans to drill two wells, Africa Oil Corp (TSXV:AOI) – 45% Operator, in 2011. These two exploration areas have independently been assessed to potentially contain over 18b barrels of oil.
• In the Republic of Georgia, Red Emperor holds a 20% farm‐in interest in onshore blocks VIa and VIb, covering approx. 7,000sq.km. Red Emperor’s JV partner, Range Resources Limited (ASX: RRS; AIM: RRL) has recently completed a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing and estimated 2.045b barrels of oil in place.
• 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."
- Joined
- 27 September 2009
- Posts
- 122
- Reactions
- 0
I notice my previous post has been tacked-onto a long lost post from 2007. I will point out that any resemblance to the previous company is tenuous. This is now a high leverage play into oil and gas licenses in Georgia and also in Somalia, something that has only come about in the last 6-9 months. Even Greg Bandy the CEO is a new addition.
The stock has firmed since my original post last week, trading to a high of 32.5c and closing the week at 30c. This will be my pick for the April stock tipping competition
The stock has firmed since my original post last week, trading to a high of 32.5c and closing the week at 30c. This will be my pick for the April stock tipping competition
Red Emperor Resources NL (ASX: RMP) is pleased to announce that it has signed mandates with key participants in the UK to help facilitate a fast track listing on the AIM market of the London Stock Exchange
AIM listing date expected to be early May 2011
Same broker, fancy that
http://oldplc.com/news/old-park-lane-capital-to-dual-list-red-emperor-resources-on-aim/
AIM listing date expected to be early May 2011
Same broker, fancy that
http://oldplc.com/news/old-park-lane-capital-to-dual-list-red-emperor-resources-on-aim/
- Joined
- 19 September 2004
- Posts
- 205
- Reactions
- 5
Well it has been 1 year since the last post and the share price has doubled.
looks like RMP has done well with their announcement of oil and gas shows.
they are a long way from TD but they will be running intermediate logs fairly soon, in about 400-700m ... which is hard to know when that will be as it doesn't say how fast they are drilling?
looks like RMP has done well with their announcement of oil and gas shows.
they are a long way from TD but they will be running intermediate logs fairly soon, in about 400-700m ... which is hard to know when that will be as it doesn't say how fast they are drilling?
Maybe someone can post the breakout in beginning of March. It was a beautiful potential break-out bowl pattern formed spanning seven months. Popped March 4th. Straight up 100% in two weeks. Not a peep in the breakout alert threads. We snooze we loose.
- Joined
- 14 December 2009
- Posts
- 882
- Reactions
- 1
Amazing run up.
Is there a trade here, entry before close ?
It has come back 6% on low volume.
Stop at 65. What are thoughts ?
Is there a trade here, entry before close ?
It has come back 6% on low volume.
Stop at 65. What are thoughts ?
Guess everyone thought it was too risky.
Pre-CR pump??
Announcement out today regarding capital raising.
springhill
Make the drill work for YOU
- Joined
- 20 June 2007
- Posts
- 2,555
- Reactions
- 11
MC - $35m
SP - 14c
Shares - 258m
Options - Nil listed
Cash - $18m
Puntland Projects
During the quarter Red Emperor’s JV partner and operator of its Puntland Project, Horn Petroleum Corp (TSXV: HRN), completed drilling of the landmark Shabeel‐1 well on the highly prospective Dharoor Block. This was the first well drilled in Somalia in over 20 years and the first drilled in the Dharoor Basin in over 50 years. The Shabeel‐1 well reached a total depth of 3,470 meters and encountered metamorphic basement at a depth of 3,430 meters.
In addition to the previously announced 12 – 20m zone of significant hydrocarbon pay in the Upper Cretaceous Jesomma Formation, the well encountered additional potential net pay sands in the Jurassic Adigrat Formation at a depth of 3,246 to 3,430 meters, several of which exhibited oil and gas shows. Petrophysical analysis of the well log data indicated up to 3 meters of potential hydrocarbon pay in several thin sand units.
The drill rig then moved to the Shabeel North location, 3.5 kilometres to the north, where drilling operations commenced in June. The Shabeel North well was targeting the Upper Cretaceous Jesomma sands, which had good oil and gas shows in the Shabeel‐1. On the 22nd May, Red Emperor announced the exercise of its option to participate in the Shabeel North well and therefore earn its 20% interest in the two blocks, Dharoor and Nugaal.
Subsequent to the quarter end, the operator conducted an open hole Drill Stem Test over a 50 meter gross interval (between 1,910m – 1,960m) at Shabeel North which contained several sands in the upper portion of the primary Jesomma Formation which had oil shows. The test recovered fresh water (1200 ppm Cl‐) without any traces of oil. The well continued drilling through the entire Jesomma reservoir section to reach a depth of 2,200 meters. The section contained several additional sands with oil and gas shows and a full set of electrical logs was run to determine if these sands contained potential oil zones which would warrant further testing. The analysis of these logs indicated that the most prospective looking zone in the well was the upper Jesomma sand interval that had already been confirmed by testing to contain fresh water and thus no further testing could be justified.
Based on the positive evidence of oil shows and the presence of good quality reservoir in the Jesomma, the
partnership have now decided to deepen the well in order to evaluate the potential of the Lower Cretaceous and Jurassic sections. The current revised total depth is now approximately 3,400 meters. The Jurassic section in the nearby Shabeel 1 well had thin reservoir sands with oil and gas shows, but this section was determined to be not thick enough to warrant testing. These sands are expected to thicken basinward towards Shabeel North. There was also evidence that there may have been faulting in the well which could have cut out a significant portion of the basal reservoir section, which is not expected in Shabeel North.
Georgia Project
During the quarter the joint venture announced a revised development strategy in respect of Blocks VIa and VIb
of the Georgia Project. The revised strategy will focus on low‐cost, shallow appraisal drilling of the contingent
resources around the Tkibuli‐Shaori (“Tkibuli”) coal deposit, which straddles the central sections of the Company’s two blocks.
Tkibuli has been estimated by Advanced Resources International to contain recoverable gas resources of at least 0.4 trillion cubic feet of coal‐bed methane (“CBM”). Sand horizons have also been identified around the coal beds, which could add additional, conventional hydrocarbon resources to those estimated for CBM at Tkibuli
alone.
Agreements have been signed with the Georgian Industrial Group (“GIG”) who will look at the joint development
of the project alongside the current partners as well as taking 100% of the gas produced from the project under
the offtake agreement.
SP - 14c
Shares - 258m
Options - Nil listed
Cash - $18m
Puntland Projects
During the quarter Red Emperor’s JV partner and operator of its Puntland Project, Horn Petroleum Corp (TSXV: HRN), completed drilling of the landmark Shabeel‐1 well on the highly prospective Dharoor Block. This was the first well drilled in Somalia in over 20 years and the first drilled in the Dharoor Basin in over 50 years. The Shabeel‐1 well reached a total depth of 3,470 meters and encountered metamorphic basement at a depth of 3,430 meters.
In addition to the previously announced 12 – 20m zone of significant hydrocarbon pay in the Upper Cretaceous Jesomma Formation, the well encountered additional potential net pay sands in the Jurassic Adigrat Formation at a depth of 3,246 to 3,430 meters, several of which exhibited oil and gas shows. Petrophysical analysis of the well log data indicated up to 3 meters of potential hydrocarbon pay in several thin sand units.
The drill rig then moved to the Shabeel North location, 3.5 kilometres to the north, where drilling operations commenced in June. The Shabeel North well was targeting the Upper Cretaceous Jesomma sands, which had good oil and gas shows in the Shabeel‐1. On the 22nd May, Red Emperor announced the exercise of its option to participate in the Shabeel North well and therefore earn its 20% interest in the two blocks, Dharoor and Nugaal.
Subsequent to the quarter end, the operator conducted an open hole Drill Stem Test over a 50 meter gross interval (between 1,910m – 1,960m) at Shabeel North which contained several sands in the upper portion of the primary Jesomma Formation which had oil shows. The test recovered fresh water (1200 ppm Cl‐) without any traces of oil. The well continued drilling through the entire Jesomma reservoir section to reach a depth of 2,200 meters. The section contained several additional sands with oil and gas shows and a full set of electrical logs was run to determine if these sands contained potential oil zones which would warrant further testing. The analysis of these logs indicated that the most prospective looking zone in the well was the upper Jesomma sand interval that had already been confirmed by testing to contain fresh water and thus no further testing could be justified.
Based on the positive evidence of oil shows and the presence of good quality reservoir in the Jesomma, the
partnership have now decided to deepen the well in order to evaluate the potential of the Lower Cretaceous and Jurassic sections. The current revised total depth is now approximately 3,400 meters. The Jurassic section in the nearby Shabeel 1 well had thin reservoir sands with oil and gas shows, but this section was determined to be not thick enough to warrant testing. These sands are expected to thicken basinward towards Shabeel North. There was also evidence that there may have been faulting in the well which could have cut out a significant portion of the basal reservoir section, which is not expected in Shabeel North.
Georgia Project
During the quarter the joint venture announced a revised development strategy in respect of Blocks VIa and VIb
of the Georgia Project. The revised strategy will focus on low‐cost, shallow appraisal drilling of the contingent
resources around the Tkibuli‐Shaori (“Tkibuli”) coal deposit, which straddles the central sections of the Company’s two blocks.
Tkibuli has been estimated by Advanced Resources International to contain recoverable gas resources of at least 0.4 trillion cubic feet of coal‐bed methane (“CBM”). Sand horizons have also been identified around the coal beds, which could add additional, conventional hydrocarbon resources to those estimated for CBM at Tkibuli
alone.
Agreements have been signed with the Georgian Industrial Group (“GIG”) who will look at the joint development
of the project alongside the current partners as well as taking 100% of the gas produced from the project under
the offtake agreement.
Attachments
Cam019
Loose Pants Trend Follower
- Joined
- 2 August 2016
- Posts
- 895
- Reactions
- 1,477
- Joined
- 2 February 2006
- Posts
- 14,009
- Reactions
- 2,891
Also quoted on AIM in the UK. Not a share that trades all that much and is now an almighty punt on a big drill in Alaska. Due to having to build an ice road etc., it costs about US$50 million for just this one oily gamble. If it comes up trumps as a drill nearby did with 4 times top expectations then great, if not it's dead in the water.
You pays yer money and takes a chance.
My personal opinion, you may not agree.
You pays yer money and takes a chance.
My personal opinion, you may not agree.
- Joined
- 17 August 2006
- Posts
- 7,739
- Reactions
- 8,332
Oilers are definitely high risk/reward scenarios …..
Quick read of their recent announcements says the initial cost to drill the first stage will be around $15 million and the Company has enough cash (approx. $5 million) to cover their share of the fist stage.
Permitting still in process and drilling set down for Q1 2019 so a while off yet …..
They have a tiny market cap (around $15 million) so plenty of upside potential on any discovery.
Interesting that Interactive Brokers have a 4% stake in the Company
- Joined
- 2 February 2006
- Posts
- 14,009
- Reactions
- 2,891
Oilers are definitely high risk/reward scenarios …..
Quick read of their recent announcements says the initial cost to drill the first stage will be around $15 million and the Company has enough cash (approx. $5 million) to cover their share of the fist stage.
Permitting still in process and drilling set down for Q1 2019 so a while off yet …..
They have a tiny market cap (around $15 million) so plenty of upside potential on any discovery.
Interesting that Interactive Brokers have a 4% stake in the Company
I haven't checked how long an ice road must need to be for the first well. It is an absolute must by law. Their figure of $15m looks too low, way too low.
Ice Roads: The Western North Slope’s frozen foundation - April 2018
http://www.conocophillips.com/spiri...-the-western-north-slope-s-frozen-foundation/
Last edited:
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,462
- Reactions
- 4,498
The Red Emporer Resources share price has kept climbing following Cam's post of last Wednesday.
Back then it was 3.5c and it has since risen to 5.3c, a gain of 51.43% in the last week. No news since it re-listed on 30 July. I'm inclined to think that, as Cam's chart suggested, supply has dried up and buyers are chasing sellers, driving the price up.
Back then it was 3.5c and it has since risen to 5.3c, a gain of 51.43% in the last week. No news since it re-listed on 30 July. I'm inclined to think that, as Cam's chart suggested, supply has dried up and buyers are chasing sellers, driving the price up.
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,462
- Reactions
- 4,498
Lots of positive news for RMP this month. The Company's $5 million capital raising at 5c was oversubscribed and their Permit to Drill the Winx-1 exploration well was approved by the Alaska Oil and Gas Conservation Commission (AOGCC) on 16 January.
Looks like things are moving ahead nicely for RMP, including their share price. Volume is looking very healthy so far this month.
Looks like things are moving ahead nicely for RMP, including their share price. Volume is looking very healthy so far this month.
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,462
- Reactions
- 4,498
Red Emperor Resources shareholders have been on a roller coaster ride over the last week. The company released interim drilling results for the Winx-1 exploration well in Alaska on 1 March and 4 March that spooked the market resulting in a significant share price decline.
Today the company released a further announcement advising that Winx-1 intersected all of the pre-drill targets safely and efficiently and that total depth of 6,800ft was reached on 3 March 2019, with multiple potential pay zones identified in the Nanushuk Formation Topset Play (primary targets) and Torok Formation (secondary targets).
The share price them promptly gapped up and is now trading at 9.9c. It's been quite a tumultuous week for RMP holders but things are looking a little more positive now.
Today the company released a further announcement advising that Winx-1 intersected all of the pre-drill targets safely and efficiently and that total depth of 6,800ft was reached on 3 March 2019, with multiple potential pay zones identified in the Nanushuk Formation Topset Play (primary targets) and Torok Formation (secondary targets).
The share price them promptly gapped up and is now trading at 9.9c. It's been quite a tumultuous week for RMP holders but things are looking a little more positive now.
- Joined
- 17 August 2006
- Posts
- 7,739
- Reactions
- 8,332
Thanks for the heads up Greg.
Not a good look from where I'm sitting
… The Company puts a negative spin on a drilling report announced on a Friday 1st March ……
The Market mulls over it all weekend then dumps a lot of shares on the following Monday 4th … only to see the Company release another report the same day putting a positive spin on the same Well they were down ramping three days before.
Red flags all over the place for mine
…… A lot of burnt shareholders would not be happy.
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,462
- Reactions
- 4,498
Red flags all over the place for mine
Yes, there's no way I'm going near a stock with this much volatility. I wish shareholders all the best but clearly RMP can move quickly in any direction and while that can result in significant profit, it can also result in significant loss and people need to be very careful.
- Joined
- 12 October 2007
- Posts
- 462
- Reactions
- 210
Watching this play out as the clock ticks down to January 21st when the company's AIM listing is at risk of suspension from lack of activity.
Recent volume piqued my interest as this is essentially a search fund for (ostensibly) oil & gas projects to spend it's $4.4M war chest on. My baseless suspicion is that there are buyers setting up positions in anticipation of a pop from an acquisition announcement.
I'm undecided on whether it's a smart contrarian time to pick up an oil/gas asset with COVID sentiments turning and the prospect of increased oil usage on the horizon.
MC ~$10M is interesting too considering the cash it holds.
Recent volume piqued my interest as this is essentially a search fund for (ostensibly) oil & gas projects to spend it's $4.4M war chest on. My baseless suspicion is that there are buyers setting up positions in anticipation of a pop from an acquisition announcement.
I'm undecided on whether it's a smart contrarian time to pick up an oil/gas asset with COVID sentiments turning and the prospect of increased oil usage on the horizon.
MC ~$10M is interesting too considering the cash it holds.
- Joined
- 17 August 2006
- Posts
- 7,739
- Reactions
- 8,332
You may well be right Kenny. Do you have any info on Kenneth Baker who took up over 6% of the Co. last week? He created most of the Volume and bought in at 014-016, then someone/s followed suit on Friday pushing it up 35% Interesting as you say.
Similar threads
- Article
