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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 Mar 17, 2019 4:38pm
107 Views
Post# 29498090

I have a few questions.

I have a few questions.1. Who should be held financially responsible for the costs of producing, printing and mailing a flawed Information Circular that contained material deficiencies? The CEO at that time (before he stepped down in disgrace from the CEO and President positions) was David SIdoo.

It appears that since the Information Circular was negligent and/or fraudulent and a total waste of corporate funds, the costs of printing and mailing the Circular and the associated proxy information, along with the vote count tabulation by Computershare, should be borne by David Sidoo, personally. The board of directors of EW ought to meet and vote on a motion to have David Sidoo reimburse the company for all of the cost associated with the defective/fatally flawed Information Circular. Since David Sidoo is still a member of the board of directors, it would be a conflict of interest for him to participate in such a vote, other than recusing himself from the vote. Dylan Sidoo should also recuse himself due to nepotism, etc. In fact the entire board of directors is probably conflicted and should resolve to simply have David Sidoo reimburse the company for costs associated with the piece of trash, that masqueraded as an "Information Circular."

2. Who should be held responsbile for the legal costs charged by McMillan LLP for the legal work associated with the flawed Information Circular?

3. Should EW sue McMillan LLP for legal malpractice, for the material deficiences and possible fraud associated with the Information Circular? How did a McMillan attorney/barrister/solicitor go to the Court and swear to the Judge/Master that the Information Circular was truthful and contained full disclosure of the facts, worthy of approval of an Interim Order by the Judge, when in fact, the Information Circular was materially deficient? Did anyone at McMillan LLP actually review the Information Circular before it was submitted to the Judge? Why did McMillan fail to see and act on the material deficiencies that ultimately resulted in EW being placed on the Default List by the BC Securities Commission, after reviewing the Information Circular?
Bullboard Posts