They are still targetting up to 30 mmbls of oil in 3 wells in the Cooper basin (P50) If they find just 10% of that target my calcs put the sp in the low to mid 20s. Meeting on the 31st March may get an update on activities. Should go back to 10c+ on the pre-drill speculation. I think I recall seeing a million buyer on the last "wave" only to sell 3 or 4c later. Good short term strategy as this company always seems to have a new line up of projects to put in front of punters so always a good chance to get all funds back. Cultana could be a mega winner with Copper, Gold and Uranium at premiums. Some more activity in Bass Straight over the horizon and I have yet to get a real handle on this PNG iron ore deal but it seems to be progressing. All in all I have been buying again as these prices seem too good to miss. fc
EBR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
