East West Petroleum Corp V.EW

Alternate Symbol(s): EWPMF

Energy Oil & Gas E&P

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

East West Petroleum Corp

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Comment by aeeon Sep 24, 2013 5:58pm

143 Views

Post# 21764555

RE:RE:RE:RE:adding

Carinthian,
The well they are referring to in you post is Tag's 100% on the poorly explored East Coast, as are the "few blocks" going for auction. I can see how TAG would want to keep quiet on the first deep well on the East Coast, but EW isn't participating in those wells. I don't think Tag/EW are as concerned about well secrecy in the Taranaki Basin (on the West coast), including the Cheal targets in which EW is participating.

Does that make sense?

I figure it will take almost a month after drilling the first well to drill the second well and to test and complete both wells, after which Tag should let EW tells us what they found. If I read things correctly, these two wells are the two wells that EW must carry to earn 30% in the 54877 permit area, so it doesn't matter inwhat order they are drilled or completed. Both get drilled regardless of the test results for the first one.

Please let me know if I understad this incorrectly.

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