Red Emperor Resources NL is an Australia-based resource and oil and gas exploration company. During the fiscal year ended June 30, 2012 (fiscal 2012), the Company focused on its oil and gas exploration joint venture assets and completed its farm-in to the Puntland and Georgian Projects. In Puntland, Red Emperor holds a 20% working interest in two oil and gas exploration licenses encompassing the prospective Dharoor and Nugaal valleys. In the Republic of Georgia, Red Emperor has a 20% working interest in onshore oil and gas exploration blocks VIa and VIb, covering approx. 6,500 square kilometer. During fiscal 2012, the initial exploration well was drilled, the Mukhiani 1 on the Vani 3 Prospect on Block Via. During fiscal 2012, the Company completed its earn-in obligations acquire a 20% farm-in interest in the Puntland oil and gas projects and a 20% interest in the Georgian oil and gas projects. During fiscal 2012, the Company also relinquished its interest in the Jillewara Project.