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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 Vikingmanon Feb 21, 2020 12:08am
132 Views
Post# 30716139

RE:RE:RE:New Tender for 7+ Wells in EX-7 & EX-8

RE:RE:RE:New Tender for 7+ Wells in EX-7 & EX-8Lane. The Board has communicated two main things:

1. One or more EW board members will be traveling in the next few months to Romania for face to face meetings with NIS officials. The intent of those meetings is to establish a better repor with NIS, to get a sense of what is really going on in Romania by observing NIS operations first hand and showing NIS that EW is now singularly focused on monitoring NIS's progress towards commercialization of the wells on EW leased land.

2. EW management is going to begin marketing the fact that EW is debt free, has a very slow burn rate, has cash and cash equivalents that equal the market capitalization of the shares, excluding the Romania asset, which could be worth $1 per share - 20X the current share price of 5 cents.
Bullboard Posts