If you have a good foal, they can start making money right away, like this guy. He's earned less than 1000 ebs in profits so far, but that's not a bad start for being 7 days old irl.
Jewlz, I dont explore much but i believe you repeat exploring until you move to the next biome. but im not entirely sure, sorry. Have you checked the game guide to see if Eve added that?