RE:RE:RE:EWPMFLane. Freeman. Your reasons "to buy" and "to not buy" are correct and are supported by the facts. According to published reports, Vanja Aleksic took over leadership of NIS Petrol, Romania, in the summer of 2018. He said "The most important investments scheduled for next year (2019) at NIS Petrol are focused on exploration and production operations and are targeting new seismic prospecting projects, drilling and testing exploration and assessment wells and entering the experimental phase .... If new drilling and seismic data acquisition confirm the findings, oil and gas production could start in the next year."
The farmout agreement between East West and NIS provides for 100% funding of the associated exploration costs for 3 wells on each of 4 blocks for phases one and two. "In the event of a discovery being declared commercial, however, East West Petroleum will be responsible for its 15% share of the associated development and production costs."
The leases on the four blocks are for 25 years, commencing in 2010 and ending in 2035. NIS Petrol is one of the few oil companies that have expanded their portfolio in Romania in recent years. All East West Petroleum management has to do, is be patient, continue to save the revenues generated by the New Zealand operations and be prepared to fund EW's 15% portion of the expenses, if, as and when the Romanian wells are declared "commercial."
There is enormous potential for East West Petroleum in Romania, but the opportunity ought not to be squandered by EW management "investing" in risky start-up deals like Juva Life Inc. and alienating the very cash that will be needed by EW to fund 15% of the NIS expenses, when wells in Romania are declared "commercial." East West Petroleum needs to adhere to its mandate of high impact international oil and gas exploration. Stripping out cash from the EW oil and gas assets in a spin-out transaction, would likely result in significant share dilution for shareholders, once cash is needed to fund 15% of NIS expenses.
Obviously, David Sidoo, Nick DeMare, Dylan Sidoo and anyone else on the board of directors and in managment positions, need to act like professional, competent stewards of East West Petroleum and align their corporate actions and activities to be consistent with the best interests of the owners/shareholders of East West Petroleum, in order to build shareholder value.
Stop the nonsense with Juva and the like and stop trying to rip off/disenfranchise the shareholders. By refocusing your actions on the original mandate of the company, to build shareholder value through high impact international oil and gas exploration and production, all stakeholders in this company can make a lot of money.