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East West Petroleum Corp V.EW

Alternate Symbol(s):  EWPMF

East West Petroleum Corp. is a Canada-based junior oil and gas company. The Company is engaged in the exploration, development and production from certain of its oil and gas properties. Its portfolio consists of interests in exploration concessions in New Zealand and Romania and producing properties in the Taranaki Basin, New Zealand. In New Zealand, it holds a 30% working interest in the Petroleum Exploration Permit (PEP) 54877 and the Petroleum Mining Permit PMP 60291 (Cheal East). PMP 60291 is the location of the Cheal E-Site and the Cheal E-site production facility as well as the Cheal-E wells. The oil and gas production comes from over five wells on the Cheal-E site, the Cheal-E1, E2, E5, E6 and E8 wells. It also has interests in over four blocks, Tria (EX-2), Balle Felix (EX-3), Periam (EX-7) and Biled (EX-8), which covers a total of approximately 4,079 square kilometers (1,007,500 acres) and are located in western Romania on the eastern margin of the producing Pannonian Basin.


TSXV:EW - Post by User

Bullboard Posts
Comment by carinthianon Mar 20, 2014 1:11pm
449 Views
Post# 22346960

RE:Undervalued

RE:Undervalued
Hi Firebird,

I agree that it does seem EW is worth more than something like 40mio.

I am still not sure how to calculate what to expect from a well. production/day x 365 days?

If this is the case and the E-site flows 100boed/d to EW we are talking about 180k boe a year. With net backs of let's say 60/barrel this should be something like 10mio/year which is nice pay to wait and see how the 12 wells in Romania will work out.

And as they keep drilling in NZ they might be able to increase production and on the other side be able to pay for Morocco and generate new projects.

Seeing them buying back shares for sure is a good sign as this might mean independent of what the Test on Cheal South or the drilling Southern Cross will show management thinks the company is worth more.

If G1 with 6m of pay is economic and Southern Cross is a hit too I think we will see prices rise again if both fail there might be more pressure and we might have to wait until a quarterly report that does show production fromm all 5 E-wells...

So I am happy with my shares although I am down 40% or so but I am willing to wait until Romania shows us what it's got...

Just my personal thoughts. DYODD
carinthian
Bullboard Posts