in pre-open announcement?, page-13

re: australian oil ipo And now the farmin strategy used by TR for EBR becomes absolutely clear.
Share the burden and spread the risk...its the same as not investing in subsidiaries and only investing in the holding/mgt coys.
Very smart guy and he has been successful with Falcon, Moby, Lakes and ors in carrying the load.
The smart money would just stick with EBR and its portfolio instead of throwing in with oilers who are really one-shot or two-shot deals.
Good time to go hunting EBROA's!