I went the EWP-way and started with Eject Warp Plasma II. The first thing i noticed after several uses: regardless of the indicated damage in the tooltip or the enemy i fought, those clouds did always dot with 75 plasma-damage/tick.
Then i put some points to engine efficiency et al and unlocked EWP III. Prior the fight checked its tooltip: 2880 damage over 15secs.
Started a fight with a level 30-32 brigand cruiser and got him in the plasma cloud. The plasma-dot ticked with 100 plasma/tick. After that fight i scanned the log and counted the logged damage: 18x 100 plasma - which is quite lower than 2880.