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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 May 30, 2019 4:08pm
131 Views
Post# 29786448

June Could Be a Good Month

June Could Be a Good MonthIn June, we have several events that may help EW. 1) NIS is scheduled to hold its ASM on 6/30. Hopefully at that time they will be able to share updates from Romania. 2) We should have 3 months of production testing from Teremia 1001, hopefully the results will be good. 3) the EW announcement on 4/23 stated that during June, NIS will perform some additional production testing of Teremia 1000, looking for good results from this well too. 4) Hopefully, EW will be able to sell its NZ assets to TAG's buyer. I recently noticed that TAG's production has reached 1,800 BOE/D of which Cheal is most of their production. With EW ownership equaling 30 percent of Cheal, we should receive a fair amount for this asset. Before the water flooding, I believe TAG's production was around 1100 - 1200 BOE/D. All the above events bode well for EW and the Long Suffering Shareholders. GLTA
Bullboard Posts