East West Petroleum (TSXV: EW) has seen big insider buying over the last twelve months. EW Director Kevin Haney has purchased 660,000 shares since March 30, 2021. His position size has increased by 176% from one year ago. His most recent purchase of 35,000 shares occurred this past Friday.
EW has only 89.59 million shares outstanding for a market cap at $0.09 per share of $8.06 million.
EW has $4.88 million in cash and no debt.
EW's current enterprise value is only $3.18 million!
EW became profitable last quarter and reported year-over-year revenue growth of 37.40%!
EW's $2.2 million in trailing twelve-month revenue came entirely from its New Zealand oil assets.
NIA's most recent previous oil stock suggestion from February 16th, Mexco Energy (MXC), which gained over 300% from NIA's suggestion price... currently has an enterprise value of 6.95X revenue. EW's current enterprise value is only 1.45X revenue!
MXC insiders have been selling heavily at the same time that EW has seen significant insider buying!
EW appears to be receiving no value at all for its exploration rights covering 1,000,000 acres in the prolific Pannonian Basin of Romania.
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