To me the major issue is that EBR have immediate prospects with Judith, Vanessa and Uley. They also have 3D going on (hopefully if ADX have done anything) in the Cooper basin (I think they are free carried on this) but will need to preserve cash for drilling a prospect in the Cooper at the end of this year or early next year. I feel their best prospects are to get Judith moving and also do what they can on Uley. The Cooper is out of their hands now but cash will be required later. What worries is that we are paying JS (and the rest of the board) while ADX sit on their hands over the Cooper prospects.
EBR Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
