Somalia Posted February 26, 2012 I mean it will. :cool: Quote Share this post Link to post Share on other sites
kingofkings Posted February 26, 2012 Somalia;795348 wrote: I mean it will. :cool: Quote Share this post Link to post Share on other sites
Dr_Osman Posted February 27, 2012 Red Emperor to raise £6.9 mln for Puntland and Georgia exploration 8:17 am by Ian Lyall Red Emperor is raising £6.9 million at a modest discount to Friday’s closing price on AIM. Red Emperor Resources (LON:RMP, ASX:RMP) said this morning that it is raising £6.9 million to fund its exploration programmes in Puntland and Georgia. It is doing so via a two-tranche placing of shares at 18 pence each, a modest discount to Friday’s closing price on AIM. Almost 16.2 million shares are being issued in the first tranche, with a further 22.3 million expected to be placed in the second. The company can place up to an additional 7 million new shares as “over-subscriptions” to Australian shareholders to the second tranche. The placing is being organised by Fox-Davies Capital and Old Park Lane in the UK and Max Capital Pty in Australia. In an update on progress, Red Emperor said that its Shabeel-1 well in Puntland, an autonomous territory of federal Somalia, is now at 1,230 metres. In the former soviet state of Georgia, meanwhile, the Namakhvani well is expected to spud in mid April. Quote Share this post Link to post Share on other sites
