RE:RE:RE:RE:RE:EW is trading for 7 cents in the USA as I type..a 52 week... True it is yet to be seen, yet I trust that behind the scenes David is pushing for an acquisition as mentioned in the updated letter to the group just the other day. I do know that the Board is not sitting by idle. Thus the reason for bringing on board:
1st - Ross McElroy - who has the professional skills to ferret out a sweet deal.
2nd - David Taylor - he as well will amplify the search for that producer with proven reserves.
3rd - Nick Demare to lend access/facilitate the capital financial markets when
acquisition funding is required.
Their job has & is to amplify the dedicated search for a producing small/mid tier with decent proven reserves in the Bakken Formation in USA. As you know EW has expertise in horizontal drilling & they have their sights on at least one producer w/proven reserves they are doing diligence on. Who that is? is something I am not privy too. We could be nearing a deal.
EW/NIS Romanian assets, although very promising, are locked in bureacratic entanglements, which has been why EW is not being recognized by the general investor (no matter how much promotion you do). Investors are very skeptical when governments slap these types of heavy handed fines. Anyone has reference to the heavy fines levied against Chevron. So NIS is carefully crossing their T's & dotting their I's in order to stay on the positive side of both ferderal gov't & local gov't permits steeped in local landowners stiff resistance. The proof is in the fact that it has taken 6 long long years to permit one well.
TAG is supplementing the treasury, to a point, but not a richly producing JV to say the least. Possibly NIS/TAG would look to assume the concessions IF the price for sweet crude would improve to $80.00+ per barrel, IMHO only.