as anyone got any strong views about the rights issue???

from the recent report which you can access on this site not being critical but if your going to invest in shares read the results else you might as well
put the money on a horse picked with a pin ...........


Chairman's Statement

During the first half of 2003 the Group operated under a severe cash constraint
and faced an uncertain future. Following the Issue for Cash and the Rights Issue
approved by the shareholders at the EGM held on 15 August 2003 and the
appointment of an all-new Board of Directors and Executive Management, the Group
has made several positive steps towards its recovery.

With sufficient funds the Group was able to commit to drill the obligation well
under the Campo Rico Association Contract. In January 2004 the Group commenced
drilling Campo Rico #1, the first new well to be drilled by Emerald for several
years. Campo Rico #1 has now reached its final depth of 11,795 ft and has been
completed for oil production. The well flowed oil of 17 degree API gravity at a
rate of 250 barrels per day during preliminary testing and the Group estimates
that a rate of over 750 barrels per day will be achieved when a downhole pump is
installed. The well will be put on production shortly, using temporary
production facilities, to evaluate the field's long term potential.

Thx dick dasterdly, good to see someone DYOR! i have been a long term follower of this name and do see some potential but i wouldn't be surprised to see another cash call now the price has spiked.

beware volume drying up and the spread expanding...seen it all before.

Get real!

It's worth over 100m!

and your point is??? plenty of large illiquid large caps and if the management had some sense they would consolidate the shares bt a factor of 10 and then see how the stock performs.

it may be worth 100m but in monetary terms the turnover is dreadfull - even with the volume spike over the last few weeks.

Don't say the c word. Nothing has ever been so destructive to shareholder value.

EEN have been in Columbia for as long as I can remember and had to lose a man down a well to achieve a profit. The high insurance now will make that a no-no.

I sold half my holding this morning at 2.62 and if they go anywhere near 3p the rest will go.

But, seriously 100m and no sign of profit is asking for touble -Isn't it?

absolutely..trouble and only 750 barrels a day!

ps sorry about the c word...

well, i've been pumped and dumped before but at least this one offered me a fighting chance for a few days so my losses are not as bad today as they would have been without the profits from the first two days. I thought it had more to run with the volumes but wtfdik?
the market cap is ridiculous unless this well can pump out the 4000 barrels predicted four years ago.

There you go!

Check out sun !

You'll know and I'll know tomorrow!

is this all good news news for the company or not as i have only held this stock of 1 year????

more buys came in at end of day yesterday, do you think it was just profot taking going on after the rights issue or do you think that they won't make the 4000 barrel target and now everyone is offloading because of it ?

i think this company have lot of potentail

could we see the price regain momentum today after yersterdays fall

The company has a lot of potential and we will see the rise in the share price very soon!!! the time to buy is now!!!

Production should commence from the Campo Rico#1A oil well within the next few weeks..

The company posted a pretax profit of 263,000 usd yr ending Dec03 compared with pretax loss of 36.2m usd in 2002