no wonder why big volumes today

The acquisition saw 3P Net Reserves increase from 17 Bcfe to 89 Bcfe and with prices as at 1 January 2010, the PV10 increased by 440% to US$100 million. Daily production increased by 650%, from around 1,000 Mcfepd to a forecast 6,500 Mcfepd. With no additional development drilling over 2010, and no significant decline in gas prices, Empire Energy is expected to generate a field EBITDDA of around US$8.0+ million. Approximately 75% of 2010 production has been hedged at an average price of US$6.32/Mcf.

The current mkt cap of IMP is 12 million and they are going to earn 8 million. If we use PE of 10 then it should be worth 80 million less debt. I think the current price should be atleaset 4 times ie., 3.5 cents based on my rough calcs...... too cheap!!