RE:RE:RE:RE:RE:RE:RE:RE:EW purchased 259,000 shares for its buyback on DEC 18
Are you writing a letter to the Christkind? ;-)
I agree that the value of the NZ assets and the 15% of what could be in Romania are of greater value than cash but currently the market thinks different.
What I do not fully agree on is that the Focus of EW is in Romania. NIS is paying and doing all the work there and EW just can lean back and see what happens. At least for the next 3-4 years.
I think for the time being that they will concentrate on Cheal North and maybe 1-2 wells on the other licenses there to increase production and remain some cash in the bank. IF Romania is a success and it is obvious that NIS will carry us through phase 1 and 2 (meaning they will spend 120mio or so) then it might be useful to save as much cash as possible to fund the 15% of any further work after the first 24 wells were drilled although those 24 wells should flow enough to fund those new wells then.
Keeping my fingers crossed. Just my personal thoughts. DYODD
carinthian