983,302,611------------1,053,829,000,388----correction -- ERG

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Subject: 983,302,611------------1,053,829,000,388----correction

Author:
Steve Bonkers

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Date Posted: 03:49:14 07/14/02 Sun
In reply to: anon 's message, "8.94153968935179479672072423511526.7 <b>8.95c rounded Correction" on 22:40:52 07/11/02 Thu

http://stocknessmonster.com/news-item?S=ERG&E=ASX&N=214138
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Issue price or consideration 75,541,489 ordinary shares at $0.28
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1,000,000 options at $0.314
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983,302,611 tradeable shares including convertible notes at a conversion rate of 1 for three shares divided by the recent capital gain of 13 million (sale of EDI Downer) plus 65 million from Victorian Government (OneLink) equals
78 million divided by 983,302,611 equals 7.93c rounded Net asset backing is given as 15.5c in last financial report adding 7.93c gives a figure of 23.43
Tuesday April 30th 2002 the low was 22.5c the high 23.5 adding 7.93 to 22.5 gives a figure of 30.43--30 rounded adding it to 23.5 gives a figure of 31.43--31.5 rounded
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Listed and unlisted shares options and convertible notes at a conversion rate of 1 for 3 there are (including todays announcement of cancellation of 30.000 employee options)
1,053,829,000,388---One billion fifty three million eight hundred and twenty nine thousand three hundred and eighty eight shares.
To include it all the equation is 1,053,829,000,388 divided by 78 million equals 7.4c rounded---adding 7.4c to nta (as given in last release of financials 15.5 plus 7.4 equals 22.9--with the low on the 30/4/2002 being 22.5
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Net asset backing is given as 19 cents per share by ERG but Aspect gives it as 15.5
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Replies:

Subject	Author	Date
It was announced on the 15.3.2002ERG was removed from the S&P ASX 100	Steve Bonkers	03:51:35 07/14/02 Sun
Value created by Sydney contract(assuming a p/e of 15) (in first year) -- Steve Bonkers., 03:53:50 07/14/02 Sun