Red Emperor Resources NL (“Red Emperor” or “the Company”) is an ASX and AIM listed (ASX / AIM: RMP) exploration company. The Company's principal activities focused on identifying and exploring oil and gas in South East Asia and the Republic of Georgia.
In South East Asia, Red Emperor has entered into a Farmin Agreement with Otto Energy Philippines Inc. (a wholly owned subsidiary of Otto Energy Ltd) to farm in to the highly prospective offshore Philippines Block, Service Contract 55 (“SC55”).
SC55 is located in the southwest Palawan Basin, covers an area of 9,880km2 and was awarded to Otto Energy Investments Ltd (formerly NorAsian Energy Ltd) in 2005. 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.
In the Republic of Georgia, Red Emperor has a 20% working interest in onshore blocks VIa and VIb, covering approx. 6,500km2. An unsuccessful exploration well was drilled in Block VIa in 2011 with Red Emperor awaiting the drilling of a second well, a commitment well, in Block VIb. The Company has fulfilled its obligations with respect to its 2011 Subscription Agreement with Range Resources and is awaiting the drilling of the second well of the two (2) well “Drilling Program”.