Bigger fish to fryIt sounds to me like Mr. Sidoo and company are concentrating their time and effort on advancing the interests of their lithium company. Probably not a dumb thing to do from his perspective. But, how much effort would it really take to have Dylan, a graduate of film school, to devote some effort or at the very least, some video or film promoting EW on an updated web site? The market capitalization of EW is about $8 million (U.S. dollars). (About 93 million shares times about 8.5 cents per share.)
In 2010, Ew raised about $120 million in convertible debt that was eventually converted to stock. That $120 million has dwindled over the years to about $8 million. The lottery ticket, as it has been referred to previously, is the stream of income that may eminate from wells drilled by 85% partner, NIS Petrol SRL. If the 3 million shares held in the lithium company ever skyrocket in price, that alone would justify a much higher price of EW shares. Brent oil is currently trading over $73 per barrel, so the netbacks from partnership with TAG Oil in New Zealand should provide some current revenue to EW this quarter and so on. Perhaps Mr. Sidoo is frustrated like we are that the drilling in Western Romania seems to be slow walked. It seems counterintuitive that NIS Petrol would do that as their investment in seismic studies etc. is around $50 million to date and they seem to be on the cusp of a return on their investment. Perhaps someone from the group wants to try and ask the pertinent questions to Deputy Manager, Vanja Aleksic, of NIS Petrol SRL via Linked In or Facebook? Let us know if you receive an answer. The question remains, why does their seem to be such a lack of fiduciary responsibility on the part of the Board and Management of EW? Maybe they have bigger fish to fry? Vikingman.