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East West Petroleum Corp EWPMF


Primary Symbol: V.EW

East West Petroleum Corp. is a Canada-based junior oil and gas company. The Company is engaged in the exploration, development and production from certain of its oil and gas properties. Its portfolio consists of interests in exploration concessions in New Zealand and Romania and producing properties in the Taranaki Basin, New Zealand. In New Zealand, it holds a 30% working interest in the Petroleum Exploration Permit (PEP) 54877 and the Petroleum Mining Permit PMP 60291 (Cheal East). PMP 60291 is the location of the Cheal E-Site and the Cheal E-site production facility as well as the Cheal-E wells. The oil and gas production comes from over five wells on the Cheal-E site, the Cheal-E1, E2, E5, E6 and E8 wells. It also has interests in over four blocks, Tria (EX-2), Balle Felix (EX-3), Periam (EX-7) and Biled (EX-8), which covers a total of approximately 4,079 square kilometers (1,007,500 acres) and are located in western Romania on the eastern margin of the producing Pannonian Basin.


TSXV:EW - Post by User

Comment by Jman1076on Feb 19, 2021 12:40pm
128 Views
Post# 32610570

RE:Néw highs

RE:Néw highs Steve: We might want to wait for the financials, but as of the last financials (3rdQ) cash was at C$4,911,056 and Investments in Advantage Lithium & Seaway (Sweet Earth) was C$599,200. I believe they will be selling off the Adv shares because Lithium has increased substantially since the end of the 3rd Q. We will need to see the 4thQ results in NZ, but the well was off line for a while as they cleaned it up to increase production. Bottom-line revenues from that will probably be down in 4thQ, but production should increase substantially going forward which means much greater future revenues. As for it's value it's way north of US$1,900,000 which EW cancelled a previously negotiated deal as soon as they could. In my view, this well is probably worth north of US$3,000,000. As for Romania, no revenue is accruing to us during the exploration phase. I believe we will hear soon on the value of these leases, because there are on going discussions on the commercialization of EX-2, 3, 7 & 8. I'm expected either a straight buyout or a revenue sharing arrangement to be announced soon.
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