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East West Petroleum Corp V.EW

Alternate Symbol(s):  EWPMF

East West Petroleum Corp. is a Canadian exploration and production company. The Company is pursuing conventional exploration and development oil and gas opportunities around the globe. In Romania, the Company has exploration rights in two exploration concessions, including EX-7 and EX-8.


TSXV:EW - Post by User

Bullboard Posts
Comment by Jman1076on Oct 20, 2017 11:02am
109 Views
Post# 26836568

RE:Drilling began over 9 months ago.

RE:Drilling began over 9 months ago.I agree with 30 - 50 tons off of 2 sections and we know their are eight sections. Assuming only 1/2 of the sections produce at an economically feasible level that level are at 15 tons / section, we are looking at a well that with these conservative assumptions produces 438/ BOE/D. With 12 wells = 5,256 of which 15% is EW = 788 with no cost to us. Although there would be a decline rate which we would need to factor and time and a 10% discount rate to drill the remaining 11 wells. I see the bottom end value of these 12 0wells at least equal to $.32 - $.40 / share. Then add in a very low ball $200 / acre for 150,000 acres that gives you another $.31 / share. Bottom-line I think the absolute low end of this play is $.60 with the upper limit open.
Bullboard Posts