RE:Another 52 week low
Will be interesting to see what amount of cash the quarterly for end of june shows...
- they are buying back shares again,
- hopefully the test results for the remaining 3 holes will be released soon,
- another well in NZ is planned this year
- you get Romania currently for free with EW
IF the remaining hole bring 150boe alltogether then they would be around 400boe which means that cash generated over the next 12M from the 6 holes should be something like 10mio, assuming that the have something like 10mio in the bank (after deducting 3.7mio for Morrocco) this is valued around cash I'd say. So the 6 holes in NZ alone should be worth more than current market cap and getting Romania for free is nice as well.
Of course those things are nothing that does excite the market but EV is around 10mio I'd guess so EV/Cash Flow is something like 1-2 which is not that expensive in my eyes...
So I am down 60% but might average down if we dip below 0,2CAD.
Just my personal opinion. DYODD
carinthian