EBR 0.25% 98.8¢ ebr systems inc.

It would have looked bad if one the PEL182 JV farminees, namely...

  1. 6,352 Posts.
    lightbulb Created with Sketch. 62
    It would have looked bad if one the PEL182 JV farminees, namely WSP, went into recievership
    While its still on the cards, the $3 mil financing WSP got from BOQ will keep em going for another qtr or two.

    EBR is a victim of these WSP rig delays.
    They did well in the intial farmout deal and hopefully they will get a working rig sometime 2H2006

    As for best leverage to Pel182, ADX might look good in theory, but they are not free carried, and dont have a lot of cash.
    We know these junior oilers like to have cap raisings when investor interest is high prior to drilling and that tends to put a lid on the sp.
    Overall, free carried EBR is the better exposure imo


 
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