RMP 88E PANR – ALASKA OPERATIONS UPDATE: DRILLING COMMENCED

The Board of Red Emperor Resources NL (ASX/AIM: RMP) (“RMP”, “Red Emperor” or the “Company”), is pleased to provide an operational update with respect to the drilling of the Winx-1 exploration well (“Winx-1”), located on the Western Blocks, North Slope of Alaska.

Highlights

·      Spud of Winx-1 commenced on 15 February 2019 at 15:15 (AK time) – on schedule 

Red Emperor is pleased to announce that 88 Energy Limited (ASX/AIM: 88E), in its capacity as consortium operator, has advised that the Nordic Rig#3 commenced drilling of Winx-1 on schedule at 15:15 (AK time) on 15 February 2019. The well was drilled to 600ft prior to pulling out of the hole to pick up the smart bottom hole assembly, with logging while drilling tools were attached. At 11:45 on 17 February 2019 (AK time), the Nordic Rig#3 was drilling ahead at 880ft. The forward plan is to deepen the hole to approximately 2,500ft before setting surface casing. Regular updates will be made throughout the drilling operations.