Another 2.5 years low todayWe should be at my 75-80 cents target price within 1 or 2 weeks as we are making new low everyday.
at 75 cents CWV market value will be at $50 millions. Still a bit pricey for a stock than is just producing only 1000bpd or around $12 millions cash flow.
Most junior oil companies are trading at around 3 times cash flow right now. It would give a value of 50 cents per share.
IF they succeed next year program and they can reach their 2000bpd target then CWV could reach 1$ per share by end of 2012 but again it is a big IF.
So I think normal valuation is between the 50 cents and $1. $75 cents should be a good price. Then if they are successful in 2012 they can fly up to $1.
So technically and fundamentally 75-80 cents is a fair value right now as I said 1 month before.