lots to like.

Lots to like about EPE in my opinion. They have been involved in the drilling of four wells in their short lifetime for two strikes (Smegsy and Yellowbank 4). Both of these strikes should provide the necessary cashflow to enable them to continue with a more adventurous drilling campaign in 2005 without the need to return to the market with a capital raising.

They only have approximately 60 million shares on issue and a market cap of $13 million. The value of their stake in Yellowbank alone far exceeds the market cap. Also expect a return to the Nulla district for another crack at the major reserves believed to be there in 2005.