Hihosilver, I see this is your first post ever on Ihub...welcome aboard!
I don't know what "so much dilution" you're referring to. The company needs to raise an initial 4 to 5 mil to drill 3 wells to start. That could be in the form of LT debt or an equity placement of 5 million shares or less. A little dilution, maybe, but hardly a lot.
Let's say that CWYR ends up with an o/s of 30 million shares in the next 2 years and proves up 20 million bbls of oil. At $20 a bbl in the ground that would be 400/30=13.33 per share.
No wonder the CEO said he likes the odds!
I never followed EYTC. Looking at the news it looks like fraud and under the table bribes were being done. If many investors were involved in both stocks it would explain some of the weakness here. CWYR has NOTHING to do with EYTC and the two should not be compared.
CWYR is a fully reporting company subject to Sarbanes-Oxley and has never done anything that hints of impropriety. The only issue I would hold against them is that they move to slow.
They hit 2 successful wells a year ago that will provide operating income after payout to the driller. They really should have ramped up financing/drilling program faster imho.
In spite of that, I believe patience will be greatly rewarded here.
Vic
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