Red Emperor Resources (RMP.asx)

Thargor

Did yours go through Neil? Mine didnt even though it never went over .34 all night, very low volume, Im going to leave my limit where it is for Sunday night.

Thargor

Aha just checked there and it must have triggered right after I posted that this morning, 50k @ 0.335 even though my limit was set @ 0.37, fecking lovely, this is crazy gambling on Georgia now though between my RRL and RMP holdings, Im going to derisk a bit ASAP as we get close to results. Very happy with that, hope thats the bottom.

neil.p.b

I'm not sure if it went through, had to order it in over the phone and thus can only check it over the phone. It was on the order book on

http://cb.iguana2.com/netwealth2/depth/rmp

pre market so i'm guessing if it was, and yours went through that hopefully mine as well, but at what price i don't know.

Thargor

Got in here by the skin of my a$$ on Friday, up 22% now, hope it carries on like this until the placing and beyond

poodles

Thargor wrote: »

Got in here by the skin of my a$$ on Friday, up 22% now, hope it carries on like this until the placing and beyond

Placing will take place some time (weeks) after listing (listing around 6th June) and hopefully it will take place at 50-60c imho

kevingleeson

I have been looking at lumping cash into RRL tomorrow when it frees up but now am looking at this Red Emperor Resources and feeling will have better results but a higher risk is being paid.

Ugh which one of the two I am not sure

Starting to favour RMP with its listing coming very soon - are people sharing the same opinions or?

neil.p.b

I think a lot of us are holding both (i'm 3:1 RRL/RMP). It really just depends on how much risk you're willing to take.

Thargor

They're turning into 2 different companies with different timescales now with the Trinidad acquisition for Range and this mystery news next week that might be a major acquisition in Columbia or elsewhere, I wont be touching my RRL for a very long time anyway.

kevingleeson

Sorry guys for amateur questions here but im looking to lump in tomorrow on either rrl or rmp havent decided yet which but if i buy on asx or aim i cant invest in euro?

Secondly if i buy on one exchange can i sell on another?

Sorry always used iseq to date!

neil.p.b

kevingleeson wrote: »

Sorry guys for amateur questions here but im looking to lump in tomorrow on either rrl or rmp havent decided yet which but if i buy on asx or aim i cant invest in euro?

Secondly if i buy on one exchange can i sell on another?

Sorry always used iseq to date!

I'm not sure what you mean by 'invest in euro', but your buy will be settled in euros with your broker. Who is your broker? Have you double checked you can trade the ASX with them?

No, but why would you want to?

kevingleeson

Yes can buy with NIB checked over the phone today

Thargor

Bare in mind you have to use the phone for RMP with NIB, you can find it in the web interface but it just tells you to contact the brokers, ring them during the day and set a limit order for that night on the ASX (opens at 1am), dont know why, they'll still charge you the slightly cheaper internet rate when it comes to fees.

poodles

I expect to hear something from RMP tonight on the asx.

Perhaps a listing date of the 6th June along with completion of transactions of Georgia deal giving RMP 20% of Strait Oil and Gas and any future acreage that they are awarded.

Thargor

Anywhere else discussing RMP besides Hotcopper? That place is dead.

poodles

No, but iii should have an RMP board in a couple of weeks time when they list.

neil.p.b

RMP to list June 23rd

http://www.investegate.co.uk/article.aspx?id=201105251133452578H

Thargor

Hopefully see a bit of a bump tonight as people take their positions.

poodles

Looks like we'll re-test 42c again.

I expect that this resistance will be broke and we'll see a push to 50c

Only 3 weeks now until AIM listing and I'm hoping to see big gains as by then we'll have spudded the first Georgian well and should have mobilised a rig in Puntland.

From Africa Oil's May Presentation...
http://www.africaoilcorp.com/i/pdf/InvestorPresentation-May2011.pdf
First two wells in Puntland will be targeting 300m and 350m barrels of oil RECOVERABLE - a net of 130million barrels of oil for RMP.

If a value of $2 profit per barrel was put on these 130m barrels that would mean a value of £158m (Current Market Cap is just £40m)

I think a more realistic value for profit per barrel would be closer to $5 myself.

poodles

Interview with Red Emperor Directors...

http://www.stockopedia.co.uk/content/red-emperor-flotation-offers-strong-leverage-into-range-resources-exploration-portfolio-57639/

Sparrow_Hawk

Any thoughts on how RMP may move forward? Its looking a bit slippery at the moment, I'm starting to get nervous

Thargor

The whole markets looking slippery, RMP is rising in spite of this and the massive newsflow hasn't even started yet. The company-making plays are starting next month, just a matter of waiting now.

poodles

Tipped by Red Hot Penny Shares...

http://t.co/HxrswJ1

beagle001

Cheers poodles

yobr

tried to get some of these at 23p today but no joy...will see what tmru brings

Thargor

That was a good writeup in RHPS, pity about the timing.

poodles

Puntland drilling contract signed. First two drills targetting 600m barrels of oil. Even one strike will be transformational to the share price. These aren't wildcat drills either.

Sparrow_Hawk

Dropped to 17.5 on ASX last night, how low do yea think this one will go? I’m a first time investor, bought in at 34, do I have any chance of breaking even in the future? I’m seriously thinking of cutting my losses

poodles

Sparrow_Hawk wrote: »

Dropped to 17.5 on ASX last night, how low do yea think this one will go? I’m a first time investor, bought in at 34, do I have any chance of breaking even in the future? I’m seriously thinking of cutting my losses

Hi Sparrow,

My own opinion is that it won't drop much further, I've bough more recently at 12.5p

The SP has been dropping on relatively low volume so by all rights, the SP will quickly rise on good news which, from talking to the company would seem imminent with regards to Puntland.

I'd like to think that the market has priced in the first Georgia well as a duster but I'd imagine there might be some more selling on news if that is the case; followed by a lot of buying.
I've talked to a lot of holders, some quite large who are waiting on news on Georgia before buying back in or buying more.
I also think it's quite possible that we might hear of Puntland spud prior to Georgia VSP results which may catch a lot of people off guard and a subsequent rns burying Georgia soon after.

The price is now at the level it was prior to the company farming into Georgia, so by all respects a good entry price imho.

neil.p.b

poodles wrote: »

The SP has been dropping on relatively low volume so by all rights, the SP will quickly rise on good news which, from talking to the company would seem imminent with regards to Puntland.

Hi Poodles,

I assume you mean onshore? Did you get any indication of when this might be? I've emailed RRL a couple of times but with no luck, i would have probably been better off trying to contact RMP.

Have you been picking up any MES over the last 3 weeks?

Sparrow_Hawk wrote: »

Dropped to 17.5 on ASX last night, how low do yea think this one will go? I’m a first time investor, bought in at 34, do I have any chance of breaking even in the future? I’m seriously thinking of cutting my losses

I think it dropped to 17c!! As poodles said it's nearing the bottom, may spike down on Georgia news if thats first but it will be short lived. It's market cap is so low for a company about to spud in Puntland which IMO will put you back in profit, and then some. I'll be buying more once RRLs T&T RNS is out.

poodles

Hey Neil,
Yup, onshore. I didn't get a specific date for a spud but RMP were EXTREMELY happy about the progress.

I'm not so sure that RMP will get some of the offshore action, perhaps just invited to the new onshore block that MES have.

Bought some MES at 9.5c and sold at 13.5c - should have held on in hindsight a little longer but the MES story is in its infancy and a there's a long long way to go before a drill bit turns in the gulf of Aden.
Besides, I needed the cash to buy more rmp at 12.5p.

Have quite a lot of cash ready to spend once Georgia is cleared up over the next few days or week!