RMP Red Emperor Resources Nl

 
TIDMRMP 
 
Red Emperor Resources NL (ASX | AIM: RMP) is pleased to announce an 
oversubscribed placing, through its London Broker, Brandon Hill Capital, and 
its Australian Broker, 708 Capital, of 72,000,000 new ordinary shares at 4 
pence (A$0.08) per share (the "Placing Shares") to raise GBP2.88 million 
(A$5.76m) before expenses (the "Placing"). 
 
Proceeds from the raise and existing cash resources will principally be used to 
fund the upcoming drilling and potential appraisal activities in the 
Philippines, where the Company has a 15% interest in Block SC55 in the 
southwest Palawan Basin. SC55 is a deep-water block in the middle of a proven 
regional oil and gas fairway that extends from the productive offshore Borneo 
region in the southwest to the offshore Philippine production assets northwest 
of Palawan. The first prospect, Hawkeye-1, was identified on 2D seismic in 2007 
and further defined with a 600km2 3D seismic acquisition in late 2009. 
Hawkeye-1 is assessed by the Otto Energy Limited, the Operator of Block, to 
contain a 'Best Estimate' STOIIP of 480 MMbbls of oil and a 'Best Estimate' 
Gross Prospective Resource of 112 MMbbls (RMP net 14.3 MMbbls). 
 
Otto has already secured the Maersk Venturer drill ship to drill the Hawkeye-1 
prospect and the Company anticipates a spud date towards the end of July 2015. 
The well is expected to take less than a month to drill. 
 
Outside of its existing operations in the Philippines, the Company also 
continues to review numerous additional exploration opportunities. This 
financing will further compliment Red Emperor's existing cash resources of 
circa GBP6 million and enable the Company to move forward quickly should a 
suitable opportunity arise. 
 
Application has been made to the London Stock Exchange for admission of the 
Placing Shares to trading on AIM ("Admission"). It is expected that Admission 
will become effective and that trading in the Placing Shares will commence on 
or around 1 July 2015. The Placing Shares will rank pari passu in all respects 
with existing ordinary shares in the Company. 
 
Following Admission, the Company will have 425,292,776 ordinary shares in 
issue. This figure may be used by shareholders in the Company as the 
denominator for calculations by which they will determine if they are required 
to notify their interest in, or a change to their interest, under the 
Disclosure and Transparency Rules. 
 
For further information please visit www.redemperorresources.com or contact: 
 
Red Emperor 
 
Greg Bandy +61 8 9225 2826 
 
Grant Thornton UK LLP 
 
Philip Secrett/Jen Clarke/Jamie Barklem +44 20 7383 5100 
 
Brandon Hill Capital Limited 
 
Jonathan Evans +44 20 3463 5010 
 
 
 
END 
 

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