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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

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Post by lageorgeson Dec 09, 2017 6:51am
82 Views
Post# 27122874

News release fron NIS

News release fron NISShort on quantitative details but there is obviously a lot going on and the question as to whether or not the well is commercially viable is answered

https://www.pressalert.ro/2016/11/nis-petrol-incepe-contructia-platformei-de-foraj-pentru-sonda-teremia-1000-ce-anunt-cheie-facut-compania-legat-de-fracturarea-hidraulica/

NIS Petrol, a subsidiary of Naftna Industrija Srbije, announced yesterday, in a press release, the start of the drilling rig construction, a pre-drilling stage of the well known as Teremia 1000 for the exploration of oil and gas in the EX- 7 Periam, where the company carries out oil operations. The exploration operations in the EX-7 Periam and EX-8 Biled perimeter were begun in 2014, with seismic prospecting on an area of 454 square kilometers. "With regard to future operations, we mention the following: operations aim at exploring crude oil and natural gas, using state-of-the-art equipment and standard methods used in the oil industry. NIS Petrol does not use and will not use the hydraulic fracturing method. NIS Petrol guarantees the execution of the works according to the Romanian legislation, the good practices in the field and the observance of the highest standards of protection of the environment and the health of the population ", according to the press release. The company's officials have stated that "the project of digging the well received the approval of the Romanian Waters Administration, based on the hydrogeological study and expertise of the National Hydrological Institute, according to which the proposed project does not cause groundwater and surface water damage. Also, the project received the decision of the Regional Environmental Protection Agency of Timi, after analyzing the documentation of the draft submitted for approval in two meetings of the Technical Analysis Commission, in which the NIS Petrol specialists answered all the questions of APM and the public opinion "Objective the exploration well borehole will confirm whether, following past production in the area, there are still conventional hydrocarbon reserves that can be exploited on a cost-efficient basis, providing information on their quantity and quality.
 
Read more on: https://www.pressalert.ro/2016/11/nis-petrol-incepe-contructia-platformei-de-foraj-pentru-sonda-teremia-1000-ce-anunt-cheie-facut-compania -linked-to-fracture-hydraulic /
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