emerald should be ready to drill

This one has snuck up on us. The much- lamented Matrix Oil has been resurrected through the merger with Emerald Oil and they are supposed to commence drilling in the US this week.
Only 45 million shares and 27 million oppies so market cap is low for a company that has 4 million in kitty and is ready to drill several wells before October this year
( unless something has happened to delay the first well)
Emerald also has prospects in the Canning but presumably won't drill there this year.

hc moderator, please note- the new ASX code of EMR was rejected when posting these comments.