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Northbridge Industrial Services Plc

Red Emperor mulling acquisition of large offshore block in Australia

Shares of Australia-based Red Emperor Resources spiked on Monday after the company signed a binding letter of intent to secure an option over an interest in a large offshore block in the shallow waters of the North Perth Basin, Western Australia.

The ASX/AIM-listed company said Monday it had entered into an agreement with Pilot Energy and Key Petroleum to secure an option to acquire a 70% operated interest in the offshore Perth Basin exploration permit, WA-481-P.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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