will probably advance in the next few days, page-3

EMR hit 39c on the back of the NW Alice Gas Discovery.
NW Alice is a significant Gas Discovery, and from the drill data could contain 70BCF.

This area is notorious for water problems yet there are numerous producing fields all around NW Alice.

NW Alice is having 3D AVO seismic done.

AVO Seismic will identify the areas of gas free of water.
A second well is scheduled for early next year

For those that have written off NW Alice, that is probably a very large mistake.
Production of the Yegua sands is short but swift, 50% of the wells production will probably be in the first 12 months. Within 4 years it will be finished.
Due to the short production cycle discovery is probably worth $US2/mmcf
It is now most likely that NW Alice will be between 20-70BCF and that Emerald will have 2-7BCF as its share. That equates to between 5c and 18c a share on its own.

Then there is Pandura.
Pandura has an 80% chance of success.
Risked Value approx 4c per share

Cash
Emerald has cash.
Approx 3.5c per share left

All of the above figures were for quoted as fully diluted.
With the options out of the money our bottoms are even better protected.

Cash is 5.5c per share
Pandura is 6c per share
NW Alice is 7.5c+ per share

Thats 19c per share of value.

Then on top of that, for just an extra 3c per share we get all this value...

In the Canning Basin we have
Stokes Bay, Valentine, Eve Rose Prospect (450BCF 45mmbo)
Plus 3 more large prospects within EMR's 100% adjoining lease.

Then we have the Hope Prospect
Drilling Now. 65BCF

Steamboat to be drilled early next year.
Pollito Blanco the new project also looks very good.

For 3 cents per share, I am hanging on to my EMR right through the current Canning drilling campaign. Downside in the long term should prove to be minimal.
Huge upside potential with minimal risk.


(Courtesy of UBull)