ebr could be 4/5 months away, page-11

re: moby float analysis I disagree - if you look at the Moby Prospectus they will have 38million shares on issue and around the same number of options, giving a market cap post float of $7.6m (20c share price) compared with $9m for EBR. They will earn 35% of the Moby area by paying a capped $3.75m for the well, whilst EBR get 25% free carry - Moby still end up with more in the bank and a higher interest in any discovery. The attraction for me from Moby is the free options which give the leverage to the upside in a discovery case,
I do not hold EBR but will subscribe to Moby shares.