Red Emperor Resources (RMP)

RED EMPEROR (RMP)

INTRO:
To be done in post-production

Digeridoo music, Picture of a Kangaroo dressed in Emperor’s clothing, cloak? toga? crown?

MAIN:
Aussies adore London, as anyone who has ever passed a Walkabout bar during the Ashes will tell you … or at any time of year, come to think of it.
Sometimes however, our antipodean cousins often cross the world to the home of their Pom ancestors for different and frankly less beer-related reasons.
Take Greg Bandy, for example.
He’s the director of Red Emperor; a high-risk, high-reward oil explorer.
He’s hit London to list his company on AIM and woo investors.
And boy, has he made a splash.
Red Emperor – perhaps the only listed company named after a sea perch commonly found on the Great Barrier Reef – got off to a flier last month, with more volume than the combined barnets of Kylie and Danni Minogue after a visit to the hairdresser.
Bandy has taken Red Emperor, a failing mineral explorer, by the scruff of the neck and turned it into a frontier oilco with two exciting prospects – one in Georgia, the other in the appropriately named Puntland in northern Somalia.
In Puntland, Red Emperor partners with Africa Oil and holds an interest in two licenses in the Dharoor and Nugaal valleys, under which 20bn barrels of oil await.
Most investors have Georgia on their minds, however.
Working in the former Soviet state with Strait Oil and Gas and Range Resources, Emperor has spudded the Mukhiani 1 well.
Bandy is confident of a find – and if he’s right, his outfit will be worth many multiples of its present value.
Investors are pleased too with the fact that Strait has done all the groundwork with the Georgian government to make the process smooth and stable, and once Mukhiani 1 is drilled, the rig will move on to spud a second exploration well.
As ever oil is a gamble, but Mr Bundy could just be a wizard of Oz for the risk taker.