Enclosed I have my valuation for EW, using only the New Zealand assets that is operational again. Please see the enclosed Excel. *This is my personal opinion, please do your own homework.
in the first sheet you find the valuation of 250 barrels of oil from the press release before the 30% JV. This should be a reasonable valuation at present day based on the press release: https://www.eastwestpetroleum.ca/news/news-releases/east-west-petroleum-provides-operational-update-for-new-zealand-20210811
Management has stated that production will increase and in my valuation, 2nd Excel sheet, I use the old production numbers to come to a reasonable valuation prospect of 500 barrels per day before the 30% JV. This should be a reasonable valuation for the future potential. Please see the second sheet. The purpose is to grasp the potential value of the New Zealand assets.
The Romania assets are not part of this valuation, the potential for these assets is a free buy! The books are clean (debt free) and the stock price is close to its cash value, meaning very low downside risk. If the New Zealand assets gets back to former production levels it is a potential multi bagger, leaving out the Romania assets.
*Disclaimer: This is my personal opinion, please do your own homework
