possible sleeping giant...., page-3

"Woodside Petroleum Limited was awarded the three adjacent Commonwealth blocks to the South and West of Emerald's acreage (and unsuccessfully bid for the block awarded to Emerald) as WA-419-P.

Woodside is the major participant and Operator of the Browse LNG Project likely to be developed at James Price Point, located approximately 80 kilometres South of Emerald's permits. If the LNG development proceeds as planned(and it is ), this would significantly increase the potential commerciality of any significant gas discovery in the area.

Emerald is currently evaluating 1600 km of recently purchased processed 2D seismic data to further assess area prospectivity and identify exploration leads.

Insights from this new data will also inform planning for future seismic acquisition in the permit area over the next few years.

After an initial review of the seismic data is completed, Emerald will be seeking to farm out a portion of its 100% interest in this large permit area in anticipation of new seismic acquisition in 2011"


That exert is taken from the EMR website. So in a nutshell Woodside is all over this space and even tried to make a bid for EMR's block but failed.

If the permits/space is good enough for Woodside...It's plenty good enough for EMR.

Re: US activities and the impact on the share price ...I have no idea. I dont see any of what they are doing to be "game changing " for EMR

Clearly the market is reflecting the U.S potential as low impact on the company. We have seen absolutley no speculative value priced into the share price..even when drilling.

This can only mean 3 possibilties,the first is the material financial impact from success in these project is poor to mediocre for EMR"so the market doesnt currently give a rat's"

OR

The projects carry a low percentage for commercial success.


OR

The market has got it totally wrong with this current share price and we may all be very surprised!.


Which one of these 3 scenario's is accurate...I have no idea.

Seismic info/goodies are due for offshore WA permits in 2011.

I be holding for that....:)