fox davies reiterates buy recommendation

http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Essar_Energy_San_Leon_and_Red_Emperor/637d22304970.aspx

Red Emperor & Range Resources (RMP LN, 18p, ? 1.4%; RRL LN, 6.2p, ? 2.1%) - Second of the now Three Leg Programme: Shabeel North-1 was initially planned to be the second and final leg of the current programme; however, with the discovery it is now the second leg of three, which will conclude with the testing of at least one well - Shabeel-1. While there is a long way to go before commerciality is declared, the first step towards it has been achieved. Ahead of this news, we are reiterating our BUY recommendation on both stock and target prices of 65p (RMP) and 27p (RRL).