EW.V -- Low risk bottom fishing opp; trading at cash valueAn incredible opportunity to buy EW.V at cash value. With JV partner in Romania covering 100% of the exploration costs, this could become a multi-bagger if any of the wells being tested are deemed commercial. EW.V is getting 15% of any oil that spuds.
The stock has found a bottom at .055 in the past 2 weeks with bid support steadily increasing. Bullish divergence with MACD/RSI/Stochastic indicators points to a likely near-term breakout. I am long at .055 - .065.
ASSETS
Cash: $3,719,020
GST Receivable: $7,923
Amounts Receivable: $223,772
Prepaid Expenses: $22,654
Investments: $554,709
Assets Held For Sale: $2,067,867
Total Assets: $6,595,945
LIABILITIES
Accounts Payable: $206,404
Decommissioning Liability: $309,904
Liabilities On Asset Held For Sale: $943,472
Deposit: $65,505
Total Liabilities: $1,525,285
NAV $6,595,945 - $1,525,285 = $5,070,660
