OK, I understand my outlook is worth a pinch of salt when you...

OK, I understand my outlook is worth a pinch of salt when you carry losses and the life has been sucked out of you. For what it's worth, here's another recap;

As per announcement ASX:
13 September 2012

ERM Power completes farm-in transactions.

Energy company ERM Power today announced the completion of farm-in transactions with Red Sky Energy Limited (ASX: ROG) and Clarence Moreton Resources Pty Ltd (CMR) in
the Clarence Moreton Basin in north east New South Wales following the satisfaction of a number of conditions.
Under the transactions ERM Power will earn minimum equity interests of 50% in petroleum exploration leases PEL 457 and 479, and 65% in PEL 478 with options to increase to 100% equity in each of these permits. ERM Power will also subscribe for 150 million shares in Red Sky Energy at 0.7 cents per share, giving it a shareholding of 9.5%.

ERM Power Managing Director Philip St Baker said the transactions were consistent with the
company’s strategy of securing and developing gas prospects to support power generation and energy sales in the future.
“It builds on our success in Western Australia where we expect to become a producer this year selling gas to Alcoa and condensate to BP,” Mr St Baker said.

Peter Jans
Group General Counsel & Company Secretary
ERM Power Limited
For more information
Garry West
Corporate Communications Manager
Phone: +61 7 3020 5165
Mobile: +61 457 140 650
Email: [email protected]

About ERM Power

ERM Power (ASX code: EPW) is an energy company which operates electricity sales, generation and gas exploration and procurement businesses in Australia. Founded in 1980
as a specialist energy advisory firm, the company grew through deregulation and privatisation to become one of Australia’s largest private energy sector companies before
listing on the Australian Securities Exchange (ASX) on 10 December 2010. ERM Power sells electricity to commercial and industrial customers across Australia, owns 442 megawatts(equity interests) and operates 982 MW of low emission gas-fired generation assets, and has a successful gas exploration business with interests in more than 10,000 kms2 of acreage in Western Australia.
www.ermpower.com.au

EPW current sp $1.910