RMP Red Emperor Resources Nl

 
TIDMRMP 
 
DRILLING UPDATE - HAWKEYE-1 
 
Red Emperor Resources NL (ASX | AIM: RMP) provides the following update with 
respect to the drilling of the Hawkeye-1 exploration well, offshore Palawan 
Basin in the Philippines. 
 
The Hawkeye-1 exploration well was spud on 31 July 2015 and since then 
operations have run smoothly with the Joint Venture experiencing excellent 
performance from both the rig and service companies. After the installation of 
the 36" conductor at 1,906m the well was drilled (26") and cased (20") to 
2,449m. Installation and testing of the blow-out preventer (BOP) has been 
completed, along with the 17 ½" hole to 2,664m. Current operations involve the 
setting of 13 ?" casing in anticipation for drilling the 12 ?" hole to the 
primary target reservoir. 
 
Red Emperor will continue to update the market with respect to the drilling 
operations in conjunction with the JV after target depth has been reached. 
 
For and on behalf of the Board 
 
Greg Bandy 
 
Managing Director 
 
SC55 is located in the southwest Palawan Basin and covers an area of 9,880km2. 
It 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 Hawkeye 
prospect was identified on 2D seismic in 2007 and further defined with a 600km2 
3D seismic acquisition in late 2009. Hawkeye contains a 'Best Estimate' STOIIP 
of 480 MMbbls of oil and a 'Best Estimate' Gross Prospective Resource of 112 
MMbbls (RMP net 14.3 MMbbls) (refer to the Company's announcement dated 2 March 
2015). 
 
 
 
END 
 

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