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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 Vikingmanon Feb 22, 2018 2:08pm
111 Views
Post# 27603703

NIS on track to produce oil and gas in commercial quantities

NIS on track to produce oil and gas in commercial quantitiesNis Petrol SRL has spent close to $50 million dollars (U.S.) to date in Romania. Permitting and other delays have plaqued this operation for years. However, open tenders show current bids for well pad construction at the Beba Veche Sud 1000 well in Timis County and requisition of tubular running and casing drilling services for onshore wells in Romania. All of this pursuant to the license from East West Petroleum of one million acres in four licensed blocks in Western Romania. NIS has encountered and announced greater than expected oil and gas on the deviated well they drilled recently and are proceeding with access road construction and infrastructure installation to enable commercial production of oil and gas. As more milestones are reached and success announced in 2018, equity shares of 15% partner EW (and EWPMF) should appreciate substantially! As others on this message board have aptly articulated, it would be nice if someone in EW management would actively highlight and promote this opportunity to the world, instead of what appears to be exclusive dedication to their lithium interests. I understand the frustration at the languishing share price, but based on current activities in Romania, I think our patience will be richly rewarded. That said, I will gladly support the activism of the shareholder group. Vikingman.
Bullboard Posts