55cps minimum
Agree totally Dolphin58. Even their smallest project "Gilbert" where they hold 10% has an estimated 23mmbl recoverable oil at 80% confidence level. (of course oil may not be present at all-the nature of a specci stock) but do the calculations. 23 mil at $60us x10% and divided by 333mil shares (EBR fully diluted) and converted to $AUD amounts to 55c gross per share. Then there is the Mclean prospect EBR 25% ( I read 96mmbl somewhere but I am not sure if a firm figure is yet available) Then the first two (of five) Cooper holes estimated at 19mmbl (EBR 51%.) That amounts to about 65c per share if only 30% of the 19mbl is recovered.(The second two holes estimate is 10mmbl) So all told EBR could well be a rocket ready to fire. Add to all this the Cultana project which could turn out to be a massive copper strike with a uranium sweetener. 30cps could turn out to be quite conservative. Happy holding a bundle. fc
EBR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
