RE:RE:Direction
If they can get 350boed net to them out of the 6 wells that were completed as a producer (page 9 of their presentation) this should flow around 10mio a year with $80 netbacks. Given that there should be around $10mio of cash at the bank this seems like Romania is given no value as market cap is raound 20mio...
What does bother me is that it seems to take quite a while to get the remaining 3 wells into permanent production but I am no specialist to judge if this is normal or takes too long...
My expectations are on Romania and NZ produces enough cash that EW is able to keep going so I fear this one needs patience until the middle of 2015 when the first wells in Romania have produced some results....
Just my personal opionion. DYODD
carinthian.