Horn Petroleum updated the market regarding its plans to drill 2 wells in Puntland by 2015 - "Yes" this is where Red Emperor Resources starts getting noticed again.

Each well takes up to 3 months to drill, mobilisation and getting the well site ready to drill. Red Emperor will need to build in contingency if they encounter any delays to the drilling.

Fundamentally it could take 8 months to drill the two wells, where it is safe to say the spudding of the first well is likely to take place Jan / Feb 2015.

Very interesting developments indeed!

The presentation can be seen at http://www.hornpetroleum.com/s/Presentation.asp

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