whats happened?

Sounds like more than a few like this one.

I was out of circulation Wed - Fri and only heard about EPE at the last moment, broker sounded all excited but I was reluctant to get on with such scant info (over the phone while driving) which I had no time to digest, he seemed to think it offered about a 50- 50 chance based on some oil saturation from drilling just above the target depth.

He thouight it was worth a punt given its hot location and the possible upside multiples, what I did'nt know and still don't, is who is behind this one, whats their track record (cred) and how did they ascertain the target in the first place, I know its a reasonably new float but who's behind it and I don't just mean their names.

Not being an oiler but trying to come up to speed I am given to understand their is no 3D on this one so would I be right in assuming this is a real wildcat hole based on old tecknowledgy but mostly a hunch based (usually) on experience??

If I have this right how does that widen the odds, is 50-50 a fair assumption, also I understand it has about 60 odd million shares on isssue so where did the 33 million traded come from, that worries me because some directors or major shareholders must have fed some into the market to achieve those numbers IMHO, question is, why if they are so confident.

Please feel free to set me straight, I am not in but I need to learn, there is always a next time especially the way oil is shaping up, but like I said, I have very limited experience in oil (it would take years I Imagine)so take it easy on the abuse.

Also has anything emerged since yesterday (in the news etc) or does it have to go through the ASX first???

And should I get on on Monday????

Cheers and good luck to those holding, sounds like I might regret not being one of you.

Biggest.