Red Emperor Resources NL Update re Perth Basin Exploration Permit Option (1814P)
08 June 2020 - 4:00PM
UK Regulatory
TIDMRMP
RNS Number : 1814P
Red Emperor Resources NL
08 June 2020
8 June 2020
Red Emperor Resources NL
Red Emperor Elects Not to Exercise its Option Over Perth Basin
Exploration Permit
The Board of Red Emperor Resources NL (ASX/AIM: RMP) ("RMP",
"Red Emperor" or the "Company"), the natural resource exploration
company, announces that it has taken the decision not to exercise
its option to acquire a 70% operated interest in the offshore Perth
Basin exploration permit, WA-481-P.
As announced on 2 December, 2019, Red Emperor agreed to fund the
completion of an existing committed work programme (comprising
geological and geophysical studies) for the final year of the
existing permit term, up to a capped amount of A$150,000.
Contemporaneous with such work programme being completed, the
existing JV partners, Pilot Energy Limited - 60% interest and Key
Petroleum Limited - 40% interest, in conjunction with Red Emperor,
formally applied to the National Offshore Petroleum Titles
Administrator (NOPTA) for a renewal of the permit, which expired on
19 February 2020.
NOPTA recently advised the joint venture partners that their
renewal application was successful, however Red Emperor has decided
not to exercise its option, which expired at midnight on Friday, 5
June 2020.
The Company continues to conduct high level due diligence on a
number of projects around the world and looks forward to updating
its evaluation of such opportunities as they progress.
For further information, please visit www.redemperorresources.com or contact :
Red Emperor Resources NL +61 8 9212 0102
Greg Bandy
Strand Hanson Limited (Nominated +44 (0) 207 409
Adviser) 3494
James Harris
+44 (0) 203 463
Brandon Hill Capital (UK Broker) 5010
708 Capital Pty Ltd (Australian
Broker) +61 (0) 2 9112 2500
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDKZGGVMNMGGZM
(END) Dow Jones Newswires
June 08, 2020 02:00 ET (06:00 GMT)
Red Emperor Resources Nl (LSE:RMP)
Historical Stock Chart
From May 2024 to Jun 2024
Red Emperor Resources Nl (LSE:RMP)
Historical Stock Chart
From Jun 2023 to Jun 2024