karoshi,
There are plenty of other projects in the works. Look at their website, and also take note of the announcement that was released con-current with the latest drilling update. The good thing about the projects is that even the smaller prospects offer good leverage for very little cost comparatively.
The Canning program offers the greatest near-term leverage in the near future. If there is the slightest sniff of oil/gas in the two prospects, there will be a mad rush for EMR due to the risk/reward ratio. From memory, Stokes Bay(the smaller prospect) is commercial it will be worth somewhere in the region of $2+ (from memory) per share for EMR. Valentine will be worth even more.
Don't forget that EMR also hold 100% of the tenement immediately to the west of these two prospects. Its expected that ARQ will farm into this tenement at some stage of the game.
good value, page-8
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