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Red Emperor Resources to begin trading again on Australian Securities Exchange


Shares in Red Emperor Resources (ASX:RMP,LON:RMP) will begin trading on the Australian Securities Exchange tomorrow (July 27).

The stock was previously suspended on July 15 this year ahead of its million pound fundraising on the LSE.

Resource exploration firm Red Emperor owns assets in Puntland, Somalia, the Republic of Georgia and in Western Australia.

In Puntland, it holds a 20 percent working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys.
In the Republic of Georgia, Red Emperor has a 20 percent working interest in onshore blocks VIa and VIb, covering approximately 6,500 sq km.

On July 13, it spudded the first well in Georgia and it said it will take up to 55 days to drill.

The company's partner, Range Resources (LON:RRL, ASX:RRS) last year funded a 410 sq km 2D seismic programme, which identified 68 potential structures containing an estimated 2.045 billion barrels of oil–in–place (on a mean 100 percent basis).

Two wells are to be drilled this year as part of the proposed drill programme.

Quick facts: Red Emperor Resources

Price: 0.01 AUD

Market: ASX
Market Cap: $5.25 m

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