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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 Apr 04, 2018 3:23pm
125 Views
Post# 27831149

NIS Petrol SRL buyout of EW Romania leases

NIS Petrol SRL buyout of EW Romania leasesI think one topic the EW working group should address to David SIdoo is the possibility of a sale of EW's leases in Western Romania covering appoximately one million acres. Perhaps NIS would like to have 100% control and profit from the exploration and production of oil and gas going forward. Using a "back of the envelope" guesstimation, I believe that the 15% interest of EW's leases in Timis County could be worth around $40 million to $50 million, since hundreds of milllions or billions of dollars of oil and gas could be produced from this leased acreage. From EW's standpoint, a bird in the hand could be worth more than many birds in the bush. EW could then deploy some of that new money into more promising assets in the U.S. or elsewhere and return some of the cash to shareholders. EW would retain its assets in New Zealand and Australia. Please let me know if you think this is a topic that should be discussed by the EW working group and if my guestimations are realistic. Thanks. GLTA. Vikingman.
Bullboard Posts