RED EMPEROR RESOURCES NL - Quarterly Reports for the Period End 30 September 2015

London, October 21

Red Emperor Resources NL

Quarterly Reports for the Period Ending 30 September 2015

The Board of Red Emperor Resources NL (“Red Emperor” or the “Company”) is pleased to provide the following commentary for the period ending 30 September 2015.

Philippines (SC55)

Red Emperor announced in August 2015 that the Hawkeye-1 exploration well was drilled to the planned total depth of 2,920m with the top reservoir intersected at 2,710m.  The well proved the existence of hydrocarbons in SC55, however the hydrocarbon size discovered was at the low end of expectations and not likely to be economic to develop. Hawkeye-1 was plugged and abandoned with results from the well to be analysed with respect to other prospects, including Cinco, in the license that potentially share the same charge source.

The drilling program was executed smoothly, ahead of schedule and significantly under budget with Red Emperor having paid its 15 per cent. equity proportion of a $25m USD total well cost. The Company still expects a further refund from the Operator once all costs are completed and finalised, which is anticipated to be before the end of the year. In the meantime, both the evaluation of the Hawkeye results as well as discussions with the Philippine Department of Energy around the next exploration phase for Block SC55 continues.