Ann: US Firm EAS Advisors Appointed as Nth American Corp Advisors, page-33

Couldn't agree more prowiz but there's even more to the EMC story that differentiates it.

With exploration, you peg your ground, hire a geo (if the company doesn't have one already), do your geophys & geochem and then drill the sucker.

With wastewater technology you need a VERY specialised background - one that few people have and even fewer people have executed successfully, like the EMC management. You then need to spend years and millions of dollars developing, proving and patenting a successful technology.

Wasn't it Warren Buffett who spoke about buying businesses with a big moat around them???