RE:This is just a sample ...
Hi!
May I ask if you think that EW will face cost overruns or will get swallowed by a bigger company?
If there are cost overruns in their 12mio. drilling programm, there is around 10mio in cash remaining after deducting the estimated budget. So I personally do not expect that they will get in troubles because of cost overruns on their current plannings.
Getting bought by a mid cap producer seems more likely as they are already doing business with TAG Oil, maybe planning some other Joint Ventures with them and when they hit enough pay in their drillings maybe they reach the point where it is sexy enough for TAG to make an offer that cannot be denied. :-)
Compared to other juniors EW is not invulnerable but in quite good conditions in my opinion.
as always: DYODD.
carinthian