aurora files preliminary prospectus in canada , page-59

max

You might have to place that order (for the booze) in time for the end of February.

The current broker targets seem to be based on the reserves cert for last August, perhaps with a tweak for oil price. 6 months ago, $2 seemed to be a distant target...now it's history.

Consider page 16 cashflow estimate by GMP of $29.4m for 2011 (document dated 25 Jan 2011). Then consider AUT statement in the prospectus (cleared by the auditors and the brokers) on page 48 that it expects revenues of US$47.5m and it said that in the context of its funding requirement - the figure isn't particularly relevant for funding of drilling unless it is net of royalties, costs and tax: the receipt of sales proceeds automatically triggers those costs, which will have to be funded.

So, are the brokers even more conservative than the company in its prospectus? In which case, what implications might that have for their target prices?

Things should become clearer over then next month or so but your kind offer is looking a bit reckless :-)