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Last C$0.17 CAD
Change Today 0.00 / 0.00%
Volume 4.9K
RHR On Other Exchanges
Symbol
Exchange
Venture
OTC US
As of 3:55 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

redhill resources corp (RHR) Snapshot

Open
C$0.17
Previous Close
C$0.17
Day High
C$0.17
Day Low
C$0.17
52 Week High
09/25/14 - C$0.57
52 Week Low
04/22/15 - C$0.07
Market Cap
3.4M
Average Volume 10 Days
7.7K
EPS TTM
C$-0.12
Shares Outstanding
20.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for REDHILL RESOURCES CORP (RHR)

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redhill resources corp (RHR) Details

Redhill Resources Corp. engages in the acquisition, exploration, and development of oil and gas properties. It has a 100% interest in 8 sections of crown petroleum and natural gas leases covering approximately 2,048 hectares in Montney, Alberta, Canada. The company was formerly known as ATW Gold Corp. and changed its name to Redhill Resources Corp. in January 2011. Redhill Resources Corp. was incorporated in 2005 and is headquartered in Vancouver, Canada.

Founded in 2005

redhill resources corp (RHR) Top Compensated Officers

Chairman, Chief Financial Officer, Chairman o...
Total Annual Compensation: C$180.0K
Compensation as of Fiscal Year 2014.

redhill resources corp (RHR) Key Developments

Redhill Resources Corp. Announces Operational Update from the SAT Property

Redhill Resources Corp. announced a financial and operational update, including the final mineral assay results from the SAT property conducted in 2014. Redhill currently has three oil and gas focused initiatives; the Chinook prospect, the Montney license and a gross overriding royalty. From September to early December, extensive land work was performed on the Chinook prospect to evaluate lease acquisition and farm-in opportunities. Redhill has not yet entered into any mineral leases, farm-in commitments or other obligations regarding Chinook and therefore has no current financial burdens associated with this prospect. In the Alberta Girouxville Montney, Redhill has an 8 section crown license and a 2.5% GORR on 7 sections of additional land. Redhill's crown license has a four year term and requires annual lease rentals of approximately $7,000. Accordingly, the cost of holding this asset is low. On the GORR lands, High North Resources Ltd. has completed drilling and has cased their first well on these lands. The SAT property covers 4,620 hectares in 10 contiguous road accessible mineral claims approximately 50 kilometers northeast of Smithers, southwest of Babine Lake and west of the town of Granisle. It is located within the prospective Stikine Terrane which hosts known copper porphyry deposits including the historical Granisle and Bell mines as well as the Big Onion and Morrison deposits. In early 2014 Redhill completed an 18 kilometer IP survey over the SAT property. Based on the positive results obtained from this survey, Redhill initiated a drilling program in June of 2014 to further test a high chargeability IP anomaly approximately 900 by 1300 meters in area. As part of the drilling program Redhill completed 4 HQ to NQ diamond drill holes in June through July 2014, for a total of 1,263 metres. All drill holes intersected variable amounts of pyrite +/- chalcopyrite. High amounts of disseminated pyrite in interbedded volcanics and sediments were determined to be the main source of the chargeability anomaly, where copper mineralization was related to intrusive dykes of variable widths crosscutting these units. In respect to prior expenditures on these properties, the Company has recently received a mining tax credit from the Canada Revenue Agency in the amount of $382,404 for mineral exploration work completed in 2013. This credit will be applied as a recovery to the impairment charge taken at August 31, 2014 of approximately $2.1 million in respect to the relinquishment of these properties. An additional mining tax credit will be applied for related to additional work done in 2014 on these properties.

Redhill Resources Corp. Acquires Petroleum and Natural Gas Leases

Redhill Resources Corp. announced that it has acquired a 100% interest in a total of 8 sections of crown petroleum and natural gas leases in the Government of Alberta's September 17, 2014 public offering of Crown land rights. Total bonus paid for the accepted offers was approximately $1 million and is exclusive of rental payments and fees. The Leases total 2,048 hectares and are located in northwest Alberta.

Redhill Resources Corp. Announces Executive Changes

Redhill Resources Corp. announced the appointment of Mr. Paul McDougall as Chief Executive Officer and Mr. Jamie Carlson as President and Chief Operating Officer. Mr. Paul McDougall, C.A., recently served as an advisor to Central European Petroleum Ltd., previous to which he was their CFO from January 2011 to November 2012. Mr. McDougall also served as Chief Financial Officer of OSUM Oil Sands Corp. from 2007 to 2009. OSUM is a private energy company established in Alberta which focuses on the bitumen potential of the Canadian oil sands. It is backed by some of the larger and most sophisticated energy investors in the world including, but not limited to, Warburg Pincus, Blackstone Capital Partners, KERN Partners, Korea Investment Corp., Government of Singapore Investment Corp. and Goldman Sachs. Prior to joining OSUM, Mr. McDougall worked in various roles at Centurion Energy International Inc., from 2000 to 2006, ending as VP Finance. Mr. Jamie Carlson has over 20 years of broad based oil and gas development and management expertise. Prior to Redhill, Mr. Carlson was the President and CEO at Carlson Resource Corp. From 2007 to 2013, Mr. Carlson was the Operations Manager for OSUM Oil Sands Corp. Mr. Carlson is a Professional Engineer and a member of the Association of Professional Engineers & Geoscientists of Alberta The appointments of Mr. McDougall and Mr. Carlson follow the resignation of Mr. Andrew Bowering as Chief Executive Officer and President. Mr. Bowering will remain a director of the Company. Paul DiPasquale has also agreed to step down as a director.

 

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