Georgia

In the Republic of Georgia, Red Emperor has a 20% working interest in onshore blocks VIa and VIb, covering approx. 6,500km². Joint venture partner Range Resources (ASX: RRS; AIM: RRL) has completed a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing an estimated 2.045 billion barrels of oil‐in‐place (on a mean 100% basis).