Red Emperor Resources (RMP.asx)

neil.p.b · 10-11-2011 04:09PM

poodles wrote: »

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!

I think it may have spudded already, if not then next week. I can't see them missing the deadline again. But i'm not sure whether we'll get an RNS on spud or on intermediate progress like Texas. Either way it's only a few weeks away at most.

It's my understanding that RMP won't be getting any offshore. I only got into MES at 17c, couldn't get cash together in time. Will be buying more MES (if its still at current levels) but not sure when. Albeit still at its infancy, is still hugely undervalued at these prices. With the small of amount of shares in issue, ala USOP, when an official announcement is made i can see it quickly re-rating to >$1.

I've put most of my RMP into RRL, will be taking it back out again after T&T. Contemplating putting all back into RMP then top slicing on spud spike and then buying more MES, but its risking that spud news comes before an official announcement re MES and offshore.

poodles · 10-11-2011 04:13PM

neil.p.b wrote: »

I think it may have spudded already, if not then next week. I can't see them missing the deadline again. But i'm not sure whether we'll get an RNS on spud or on intermediate progress like Texas. Either way it's only a few weeks away at most.

It's my understanding that RMP won't be getting any offshore. I only got into MES at 17c, couldn't get cash together in time. Will be buying more MES (if its still at current levels) but not sure when. Albeit still at its infancy, is still hugely undervalued at these prices. With the small of amount of shares in issue, ala USOP, when an official announcement is made i can see it quickly re-rating to >$1.

I've put most of my RMP into RRL, will be taking it back out again after T&T. Contemplating putting all back into RMP then top slicing on spud spike and then buying more MES, but its risking that spud news comes before an official announcement re MES and offshore.

I don't think you'll be the only one moving from Range to RMP after TT upgrade, so I'd be quick :>

I'm still in both but it's obvious who will do better on success in Puntland.

poodles · 07-03-2012 01:30PM

Last post was in November??

Tick

Tock.....

neil.p.b · 07-03-2012 05:58PM

Beginning to wish i had have held off a few more days before switching to HRN!! Oh well. Looking good either way.

Thargor · 07-03-2012 11:18PM

Looking good for ASX RMP tonight, Ive never seen that much green on this screen:

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

Thargor · 08-03-2012 12:28AM

BOOM

Kristopherus · 08-03-2012 02:57AM

Boom, Boom. Up over 31% today.:D:D:D

Kristopherus · 09-03-2012 01:45PM

Up another 10% today. Now at 34.5p

poodles · 13-05-2012 03:59PM

Should be a veryyyy interesting week..

Thargor · 13-05-2012 04:21PM

Yep, looking good aswell after that AOI presentation.

neil.p.b · 13-05-2012 04:26PM

Poodles, are you still holding RMP? With Georgia on the sidelines for the foreseeable future and Shabeel looking good i can't understand why anyone is in RMP over HRN at current prices.

Grecco · 13-05-2012 07:13PM

I think its all about to happen, looks like they've let slip on what they have found in Puntland. Lets hope it true, expect a rise on the ASX tonight and on AIM tomorrow.

zagamuffin · 15-05-2012 01:10AM

All kicked off today. Tommorow holds more , hrrn presentation

Grecco · 17-05-2012 05:48PM

Puntland has thrown up a duster and this share has tanked along with Horn and Range.

zagamuffin · 17-05-2012 05:54PM

Still oil if you believe the rns

Thargor · 17-05-2012 05:57PM

Not a duster, lots of questions though.

neil.p.b · 17-05-2012 06:15PM

Had time to digest RNS. Only thing i'm curious about is the 3m section in Jurassic - total or multiple? Emailed RRL and HRN but no response yet. Doesn't really matter though.

Everything else is straight forward despite all the conspiracy theories. Had a reply from PL about testing. Different equipment needed to test Jesomma than one originally mobilised, no idea why - pretty bad management considering they knew about it 2 months ago. Mob will take 6 weeks and rig had high idle rates so better to just drill Shab N as TD is only UC and Jesomma so drill time should only be 6 weeks also. Not long for results.

Obviously hugely disappointed as i had high hopes but still relatively confident but not nearly as much for OIP, would be happy with 100m recoverable for each.

Thargor · 17-05-2012 06:27PM

Im still showing 12% profit in my main holding in RRL, hopefully more tomorrow, seriously tempted to turn it into GKP and let my 10k HRN do the Puntland gambling for me, any plans for your RRL or are you just going to hold? I seriously cant decide.

neil.p.b · 17-05-2012 06:34PM

I sold a good bit already for personal reasons. I wouldn't be selling more at these levels - If i had any money i'd be buying, be a toss up between RRL and GKP.

I'll laugh if USOP comes in for us after all this.

Grecco · 01-06-2012 04:06PM

http://www.africaoilcorp.com/i/pdf/AOI_May_2012.pdf

http://www.youtube.com/watch?v=72kimijRwVY&feature=relmfu

According to KH theirs a 70% chance the first well is commercial and that it should contain between 70 and 125m BOE :eek:
Why the hell then has the market reached so badly to this, Sheeba North is due to spud in the next few weeks and the targets are much higher surly the first well has derisked the second drill. What has me worried now is the market expectations are unreal, so even if there is an Oil strike at sheeba north could the SP drop again

Grecco · 05-06-2012 04:52PM

http://hornpetroleum.mwnewsroom.com/press-releases/horn-petroleum-spuds-shabeel-north-well-in-puntlan-tsx-venture-hrn-201206050796166001

Shabeel North has spudded.

The Shabeel North well is targeting Upper Cretaceous Jesomma sands which had good oil and gas shows in the Shabeel well 3.5 kilometers to the south. Petrophysical analysis of downhole electrical logs in the Shabeel well indicated a potential pay zone in the Jesomma of up to 12 to 20 meters with an average porosity of 18 to 20%. It is planned to bring the rig back to the Shabeel location to test these sands to confirm their ability to flow oil once the drilling of the Shabeel North well is completed. The planned TD of the Shabeel North well is 2400 meters and drilling is expected to take 45 to 60 days to complete.

porosity of 18 to 20%

That a great bit of news altogether, could see 100 - 200 mboe from that one. Lets hope Shabeel North is as big as the targets say!

neil.p.b · 05-06-2012 05:30PM

Grecco wrote: »

http://www.africaoilcorp.com/i/pdf/AOI_May_2012.pdf

http://www.youtube.com/watch?v=72kimijRwVY&feature=relmfu

According to KH theirs a 70% chance the first well is commercial and that it should contain between 70 and 125m BOE :eek:
Why the hell then has the market reached so badly to this, Sheeba North is due to spud in the next few weeks and the targets are much higher surly the first well has derisked the second drill. What has me worried now is the market expectations are unreal, so even if there is an Oil strike at sheeba north could the SP drop again

Because KH neglected to mention 70% COS, 70-125 million bbls recoverable and 18-20% porosity. It was also very poorly written. Using a term like 'suspended' is never going to get a positive reaction from the markets. If Shabeel N comes in as expected and the wells flow i'd expect RMP to be around 75-100p. Prices will only drop on unmet expectations if the prices prior had already been aligned to expectations - just look at XEL April (ish) 2011. Markets has expected 180 millions bbls and priced accordingly circa 300p, CPR came out at about 100 millions bbls AFAIK and price plummeted. This is not the case with RMP.

Grecco wrote: »

http://hornpetroleum.mwnewsroom.com/press-releases/horn-petroleum-spuds-shabeel-north-well-in-puntlan-tsx-venture-hrn-201206050796166001

Shabeel North has spudded.

The Shabeel North well is targeting Upper Cretaceous Jesomma sands which had good oil and gas shows in the Shabeel well 3.5 kilometers to the south. Petrophysical analysis of downhole electrical logs in the Shabeel well indicated a potential pay zone in the Jesomma of up to 12 to 20 meters with an average porosity of 18 to 20%. It is planned to bring the rig back to the Shabeel location to test these sands to confirm their ability to flow oil once the drilling of the Shabeel North well is completed. The planned TD of the Shabeel North well is 2400 meters and drilling is expected to take 45 to 60 days to complete.

porosity of 18 to 20% That a great bit of news altogether, could see 100 - 200 mboe from that one. Lets hope Shabeel North is as big as the targets say!

18% is what they were expecting so bang on there.

Basic calculation on OIP with known data -

10km x 3km = 30 sq km (reservoir area)
15m (average net pay) x 30 sq km = 450 million cubic meters
19% (average porosity) = 85.5 million cubic meters
6.3 (conversion to bbls) * 85.5m = 539 million bbls OIP
20% (best estimate recovery factor) * 539 million barrels = 107.8 million bbls recoverable

Water saturation hasn't been disclosed but going by PLs recovery numbers it is 33%. The above ties in with the PLs range of recovery numbers - varies on recovery factor. At 25% (CPRs high estimate) the number comes in at 135, circa PLs high end.

zagamuffin · 27-06-2012 03:47PM

Apparently equipment has arrived in port for shabeel 1 testing. Not confirmed officially yet tho....

poodles · 05-07-2012 02:53PM

Should be a very interesting weekend and Monday!

Thargor · 05-07-2012 03:56PM

Poodles! Welcome back, good call on USOP, good call possibly being the understatement of the century, thanks for the tip. I assume you're still holding?

poodles · 05-07-2012 04:05PM

Thargor wrote: »

Poodles! Welcome back, good call on USOP, good call possibly being the understatement of the century, thanks for the tip. I assume you're still holding?

Hey Thargor, yep still holding my usop; of course kicking myself I didn't buy more!

Shabeel drill looking more than good it seems. I'd recommend to anyone on the sidelines that now would be a very very good time to buy and/or top up.

Thargor · 05-07-2012 10:14PM

Yep, I was thinking it was looking good aswell:

http://www.worldstocks.co.uk/forum/viewtopic.php?f=3&t=984

Jesus the boards have gone very cynical lately though, not an optimist in sight compared to how it used to be.

Grecco · 18-07-2012 05:50PM

http://hornpetroleum.mwnewsroom.com/press-releases/horn-petroleum-shabeel-north-drilling-update-tsx-venture-hrn-201207180806373001

Looking good now

:D:D:D:D:D

Thargor · 18-07-2012 06:00PM

Hmmm, is it though?

50 meters of sand with shows or 50 meters of shows, also thats gross not net. We're not at TD though so who knows? Ive been reducing my exposure here (RRL not RMP) since the good USOP RNS back when it was at 8.5-9p, glad I did now especially with the way USOP has been motoring since I started moving money into it, there will be plenty of time to buy those RRL back.

Grecco · 18-07-2012 06:15PM

Still a positive though, and if it is Oil then it would go a long way to confirming the size of the basin which could be colossal.
I think the RNS was forced on Horn petroleum as it looks like there was an leak

Either way we should know by the weekend if its a sea of Oil or water

Red Emperor Resources (RMP.asx)

Comments