RMP 0.00% 1.7¢ red emperor resources nl

Ann: RMP to Acquire Interest in Large Alaskan Oil Prospect, page-31

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 6,352 Posts.
    lightbulb Created with Sketch. 62
    RMP has AUD10.35m in the bank, which equates to USD7.76m @ FX0.75

    Following quotes from RMP's release:

    "The Consortium Partners will provide the following consideration to Great Bear"
    Pay US$500,000 (RMP share US$175,000) upon execution of the definitive agreements
    Pay US$500,000 (RMP share US$175,000) upon receipt of final permits necessary to drill the initial test well, in any case by no later than 31 December 2018
    well is estimated to cost approximately US$15 million (100% dry hole cost) of which Red Emperor’s share will be US$5.25 million"

    Thats a total of USD5.6m. Subtract that from current cash AUD10.35m/USD7.76m leaves USD2.16m to fund G&A costs and pay the refundable USD3m bond (RMP share USD1.05m) to the Alaskan Government.
    It screams predrill CR imo.
    If there's a decent discovery, GB will backin which could offset RMP's share of additional costs for production testing.
 
watchlist Created with Sketch. Add RMP (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.