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East West Petroleum Corp V.EW

Alternate Symbol(s):  EWPMF

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

Bullboard Posts
Comment by carinthianon Oct 03, 2014 5:53am
201 Views
Post# 22994591

RE:RE:RE:2014 Exit Rate For EW

RE:RE:RE:2014 Exit Rate For EW
Hi mrpanick,

Romania is the lottery ticket so to say, I would love to get a little more info on that but as it seems we are in NIS' hands. :-)

Regarding E6: Start at the end of October, 2-3 weeks drilling, 4-5 weeks testing and we are at the end of the year. Anyway I do not mind if the well i sonline in December 2014 or February 2015 as lon as it gets online and producing. ;-)

Cheal South will take some more time in my view but if they are drilling there next year we might see investment in infrastructure and getting our 2.5mio back and after that maybe 40-50 boe/d net to EW.

I think they should try to ramp up Cheal to the maximum possible wells (12-15 as far as I know) which should offer the best risk reward ratio on the buck in my view.

Anyway they should be able to fund their G&A and other work commitments in NZ out of existing cash and cash flow so even without Romania I see higher value in the company than what's giving the market today but as the market is always right and I am not... :-P

Just my personal thoughts. DYODD
carinthian
Bullboard Posts