((ready for a run)).. last price.089

Essential Petroleum (EPR)
Essential first listed in 1999 and has focussed its exploration efforts on the Otway Basin in Victoria and SA with interests in both onshore and offshore leases.
Killarney #1 in the onshore Otway Basin (June 8)came up empty. A further well Findra #1 in another onshore well, came up empty drilled back-to back with Killarney.
To fund its drilling program which will include two further wells coming up soon, Essential recently raised $5.8 million through a 1 for 2 rights issue to existing shareholders at 11 cents a share. Still plenty of cash left to fund more drills.
Pre drill price appreciation.will start soon so dont wait to long as once it jumps im sure you hate chasing them as much as I do!
You have to know your stocks and be quick to appreciate a trading opportunity when one presents itself. Double bottom and I bought in.
The time to buy EPR is now before ann on upcoming date of drill at PEP 151 and follow on well PEL72.
If EPR finds oil at PEP151 then the stock will rocket and if you want to hold throughout you should still be able to get out at present prices if it comes up a dud as buying at the wrong time is often where people fail so dont wait to follow crowd.
EPR has extensive Otway Basin interests in an area of prospectivity proven for example by the Santos consortium’s recent commercial gas find at Casino offshore.
EPR provides a cheap entry to the area as the share price has been temporarily set back by selling pressure as a result of last two dry wells.
WATCH IT RUN ON UPCOMING ANNOUNCEMENT RE TIMING OF DRILLS and remember it was 8c no now .089 when i told you to ((BUY)). Timing is everything best safe exit is when half way through 1st drill. Target price 14c.

Good trading
m2u