I am with wipeoff on the issue of cash availability.
Cash a hand for EMR is about $900+k. (read somewhere in the reports or was it investor presentation)
EMR is to buy another 19,000acres from ETE
Even though the latest purchase of Bakken shale is funded
by a US pte investor, the money in the kitty is reads like it is just enough for the asset purchase.
Where would the funds for the essential out-of-pocket come
from next e.g.sisemic studies, op set up, rigs, etc.?
I sold out EMR after this yesterday's ann becos of the funding bit. I would have much preferred that EMR
start work on their Niobara stake first before this purchase.
But I guess, window of opportunity might be their major consideration.
Any1 knows how much their US subsidiary is churning out?
Position : None as of yesterday and adopting wait and see.
GLTA
just my 2cts worth
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