Hi folks,

EBR would seem to have enough cash to fund
its share in the next scheduled well Gilbert-1
and is free carried in the next 3 wells in the
Cooper Basin, thanks to ADX.

If they intend to be more aggressive and take
part in more than the programs above, then
EBR may have to rattle the tin for some more
working capital .....

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As it stands however, EBR is at the mercy of
the field operators and their associated
drilling schedules, in 2005.

No definitive news out of Moby-1 about flow
rates, etc has taken its toll ... and no news
means traders will bail out and wait for the
shares to test previous lows, so technically
we could see EBR test the lows at 8.o and a
bounce off 7-7.4 cents would be a very good
re-entry point.

That 7.4 level would also coincide with
established support from the low, at the
June equinox on 18062003

A 50% retracement from the upleg from the
18062003 low to the 24092004 high will
come in on 14052005, at 8.4 cents, however
we will likely see lower levels tested,
before that date.

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If we use 9.9 as a pivot, as it seems to be
proving up now, an extreme low around 5.5-5.8
would be possible, supported by the blue
ellipse, in the chart, at:
http://www.ttrader.com/mycharts/display.php?p=29860&u=yogi_in_oz&a=Starcode%20Traders&id=674

-----

In the past, EBR has been triggered by
Jupiter moves and it is slowing down now,
as it approaces its retrograde station,
in early February ..... so it would not
be surprising to see EBR remain flat for
a while yet.

Some key dates for EBR, in the months ahead,
projected from the Jupiter retrocycle:

08 November 2004 = Jupiter at 9.9 degrees Libra = EBR 9.9 cents
16 December 2004 = Jupiter hot spot = EBR 9.9 cents high price
02 February 2005 = Jupiter retrograde station = EBR (9.9 cents?)
18 March 2005 = Jupiter hot spot = EBR (9.9 cents?)
15 April 2005 = 2 long time cycles here .....
14 May 2005 = 50% retracement of long upleg = 8.4 cents?
08 June 2005 = Jupiter direct = EBR (9.9 cents?)
15 August 2005 = Jupiter hot spot = EBR (9.9 cents?)
21 August 2005 = 2 long time cycles here .....
02 September 2005 = Jupiter final transit retro station = EBR (9.9 ?)

So far, we have 2-out-of-7 legs proving up the 9.9 pivot
and as others are confirmed, we will have even more confidence
in our projections.

Of course, there's other shorter-term swings that
traders may use for daytrading, etc and we will
post some more of those later.

All-in-all EBR may not be a stellar performer
in 2005, in terms of gains, but we should
see a few short-term swings, where we can scalp
a few bucks, here an there ..... but, it will
take some good market timing.

Longer-term traders may wish to wait to
enter EBR around that retracement in TIME,
about mid-May 2005.

..... even if the price is NOT 8.4 at
that time, watch for a breakout anyway.

More later.

hope this helps you some

yogi

http://easy-trading-tools.00cd.com

:)

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