Post by
Jman1076 on Aug 31, 2020 11:48pm
It's Happening !!!!! - Phase 3
From Page #4 of M,D &A. I believe it concerns EX-7 & EX-8: A technical meeting is tentatively scheduled for September 2020 in which NIS is expected to present a proposal for a development phase for which the Company will be responsible for its 15% interest. When EW ponies up 15% that means these sections EX-7 & EX -8 are commercial!!!!!!! Start ringing the cash registers!!!!!
Comment by
RyanEU on Sep 01, 2020 10:39am
Explains why they are sitting on cash. Smart move. Expect a buy-out offer from NIS to come out of the meeting when it happens.
Comment by
loubastone on Sep 01, 2020 11:21am
Sell the asset for a few mil and take a GOR. That project is gonna be super expensive and could be years away from earning any revenue imo
Comment by
Stockwatcher101 on Sep 02, 2020 12:18pm
Yes - What price are you expecting a buy out?
Comment by
loubastone on Sep 02, 2020 12:28pm
Even a 1 mil buy out of the Romanian asset, with a 1-2% GOR would be fantastic. This project is too big for a small cap, plus you think NIS will play fair with us? We're a minnow to them.
Comment by
EarningsPWorrel on Sep 02, 2020 12:55pm
worth 10-15 easy,to Nis.Ew will not have a problem raising money if the project goes ahead
Comment by
RyanEU on Sep 02, 2020 2:28pm
I have been trying to value Romania for some time. There isn't enough infomation available yet to accurately value it but based on data that does exist, 1 million is giving it away way way too cheap. This just based on the 2 known wells at 150 BOEPD.
Comment by
EarningsPWorrel on Sep 02, 2020 3:05pm
Nis will have spent 100m cad developing this project for an 85% stake, 15m of that spent on EW's 15%. If the project is going ahead then Nis value Romania higher than what they've spent on it. Selling for 1m would mean getting 1m for the whole project in the end, after a near decade wait,pass. They'll be other interest
Comment by
gogoromania on Sep 14, 2020 9:08pm
Jman....any news about when this Sept meeting will take place?
Comment by
Jman1076 on Sep 15, 2020 12:22am
Haven't heard. Send a note to EW's Investor Relations and ask them.
Comment by
Jman1076 on Sep 15, 2020 12:53am
If you send them a note, you also might want to ask if they have received any interest in their NZ assets.
Comment by
Jman1076 on Sep 18, 2020 5:51am
Give it a few more days. They usually answer, but sometimes may take a week or so, because no one is working fulltime for just EW.
Comment by
Jman1076 on Sep 26, 2020 3:28pm
Did you receive a response yet from Investor Relations?
Comment by
gogoromania on Sep 27, 2020 9:07pm
....and BTW, Sept is almost gone and no word of a meeting with NIS!
Comment by
gogoromania on Oct 02, 2020 12:16am
Must have gotten postponed!
Comment by
Jman1076 on Oct 05, 2020 5:43pm
Please note, posting is going on re Romania on the other site.
Comment by
RHertig on Oct 13, 2020 11:43am
They must have wrote the language pretty bad in the agreement. They were supposed to drill 3 wells on each concession in phase 2. Phase 3 was an additional 12 wells for a total of 24. If there was findings that were commercial we then had to pay our 15%. If it was wrote correctly we still own 100% as they haven't met their buy in yet. But we never got to read the contract so who knows.
Comment by
RHertig on Oct 21, 2020 1:30pm
I was wrong. The language is if they didn't find commercial oil in the first 3 wells of each block and wanted to continue exploration they had to fund 100% of the next 3 wells on each block.