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???
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