Is EW going to be another RKS? I'm bringing up this comparison because there are a few similarities to EW/RKS:
1) EW/RKS Both have the same sized float (90 million)
2) Both companies have the same CEO (Nick DeMare)
3) Both companies have a lot of cash, more so EW than RKS
Only difference is that RKS was invested in some companies and EW has oil/gas properties in Romania and New Zealand. But if the company does intend on selling it's oil and gas assets, will Nick put East West on the same growth path? RKS has gone from 6 cents to 60 cents in just a few months.
From EW's last MD&A:
Page 2:
The Company had previously agreed to sell its interest in PEP 54877 and PMP 60291 which comprise the majority of its New Zealand assets. The agreement was terminated by the Company on August 1, 2020. See “Proposed Disposition of New Zealand Oil & Gas Assets”. The Company is currently assessing its go-forward plans, which includes the possible sale of its New Zealand concessions to other buyers, and whether its focus should remain on the oil and gas sector. At this time no decisions have been made but the Company will be assessing alternatives.
Page 8:
The Company’s share of expected exploration and development permit obligations and/or commitments as at September 30, 2020 are approximately $147,000 to be incurred during fiscal 2021 and $1,400,000 over the next five years. The Company may choose to alter the program, request extensions, reject development costs, relinquish certain permits or farm-out its interest in permits where practical.