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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
Post by Jman1076on Mar 14, 2019 12:56pm
72 Views
Post# 29486213

No to Remaining on the BoD

No to Remaining on the BoDIn my view neither Sidoo should on the BoD. If we cannot trust them in their personal life, how can we trust them for EW's business. For example see below where David was sitting on EW BoD, he also was sitting on these other companies BoD's. He violated TSE rules see below and invested EW's cash into other companies where he also had an interest. Clearly a violation. He cannot be trusted. He is attempting to do the same with Juva Life. POLICY 5.3 - ACQUISITIONS AND DISPOSITIONS OF NON-CASH ASSETS 7. Restrictions on Investments by Issuers 7.1 Tier 2 Issuers (other than Investment Issuers) are not permitted to purchase securities of other reporting issuers for cash, either in the secondary market or as a Private Placement from treasury, except where the Issuer is participating in a joint venture and the investment consists of subscription to a Private Placement in the partner in the joint venture. I am not sure that EW is or was at the time a Tier 2 Issuer, but it very likely is as most listed issuers are. I was unaware of the serious nature of East West Petroleum investing in other TSXV reporting companies, in which they are also directors and/or officers. If you go to SEDAR and click on the the EW interim financial statements for the six months ended 9/30/2018 (posted on SEDAR on 11/9/2018), you will see that EW holds investments in the common shares of the following companies: (a) Advantage Lithium Corp. 1,771,000 shares (b) Seaway Energy Services, Inc. 512,400 shares (c) American Helium Inc. 28,000 shares (a) Warrants Advantage Lithium 333,350 Certain directors and officers of East West Petroleum Corp ("The Company") are also directors and/or officers of Advantage Lithium Corp., Seaway Energy Services, Inc. and American Helium Inc. David Sidoo is on the board of directors of all of these companies, as well as on the board and CEO of East West Petroleum Corp. This is in clear violation of TSXV rules and regulations.
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