emr benefits from ego price hike, page-5

Here is a sample of the intersuisse report that came out about Emr on Tuesday 7th August.
The testing of Stokes Bay 1 is designed to test the lateral extent of sands proven to be gas bearing in the Point Torment 1 well. This well flowed gas at rates of 4.3 mmcfd when tested in 1992. At that time the discovery was not considered to be economically viable and no follow up drilling was undertaken. If sufficient reserves can be established, a potential gas market exists in the west Kimberley power market with the associated sale of condensate extracted from the gas stream.”

If you would like to read the full report by Intersuisse Google “Morning Notes EMR August 2007”.

The report gives a very thorough account of exactly what Emr is doing both here and abroad in the present and near future and some commentary on past events. I found it a very interesting read which allowed me to understand better the companys’ potential and relatively lower risk value compared to other oil plays.
On the basis of this and other research I maintain a large holding in this company and considering EGO market cap - either EGO market cap is way overpriced or EMR maket cap is way under priced.
In the words of warren buffet responding to a professor of economics who was putting forward the argument that the stock market was always efficient.
“ If the market is so efficient how come I’m so rich?”