RMP Red Emperor Resources Nl

16 February 2015

                           Red Emperor Resources NL

                                COMPANY UPDATE

The Board of Red Emperor Resources NL ("Red Emperor" or the "Company") is
pleased to provide the following update to the market.

Puntland

Further to the Company's recent quarterly report dated 29 January 2015, the
Company's Joint Venture (JV) continues to significantly reduce its presence in
Bosaso, Puntland and will refrain from any operational activity and associated
expenditures pending a resolution of the political situation between the
Regional Government of Puntland and the Federal Government of Somalia regarding
the legitimacy of oil concession contracts. Given the considerable efforts
taken by the JV to date in Puntland (Somalia), the JV has requested a two year
extension to the current exploration period from the Government of Puntland to
allow time for these political challenges to be resolved.

Red Emperor is optimistic that agreements can be reached to enable the JV to
remain in control its two PSCs that provide both exposure and leverage to
potentially multiple billion barrels of oil.

Georgia

With respect to the well obligation that exists on Block VIb under the
production sharing contract (PSC), Strait Oil & Gas advises that it has now
agreed a drilling programme with the Georgian Oil & Gas Ministry who have also
confirmed that a valid drilling license is in place. All technical aspects of
the well, along with the cost budget, have been approved with a drill rig and
all required services on standby. Range Resources remain in negotiations with a
third party to reduce their financial exposure associated with the proposed
well and Red Emperor continues to monitor the progress of these discussions.

Corporate

Red Emperor recently sold its direct equity investment in Highfield Resources
Limited (ASX: HFR) in accordance with its treasury management strategy. The
shares were sold at price of 80c per share, which netted the Company A$798,279
after brokerage, a 66% return on its A$480,000 investment. Red Emperor's
current cash position is in excess of A$10m, approx. £5.15m, which equates to
3.84c and 1.93p per share.

Managing Director, Greg Bandy, commented, "The Board remains committed to
delivering shareholder value and is in advanced discussions with a number of
projects that the Board believes have that potential. The fall in oil prices
has increased the number of opportunities on the market and the Board are now
seeing more realistic farm-in terms offered and lower industry costs. With a
strong balance sheet and low cash burn the Company is in a strong position to
exploit these opportunities, which would have been unobtainable just six months
ago. In that regard, we are excited by the outlook for the Company."

For further information please visit www.redemperorresources.com or contact:

Red Emperor
Greg Bandy +61 8 9212 0102

Grant Thornton UK LLP
Philip Secrett/Jen Clarke/Jamie Barklem +44 20 7383 5100

Fox-Davies Capital Limited
Jonathan Evans +44 20 3463 5010