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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 Jman1076on Nov 18, 2019 3:55pm
107 Views
Post# 30366564

RE:RE:RE:RE:Stk Option Plan & BoD Members

RE:RE:RE:RE:Stk Option Plan & BoD MembersBottom-line, I don't trust the old members of the BoD. Also as I stated in my previous post, 10 percent of the stock for 4 members and possibly a few outside consultants is pure robbery. I worked for several large companies and was responsible for all their stock options, RSU and stock grants. There are very few companies that have the audacity to have stockholders approve setting aside 10 percent of it's stock for BoD members and other insiders. Most companies will have a plan that provides up to 3 percent of their stock for insiders, but focus on keeping the percent at 1.5 to 2 percent. Why does EW need to do this? All this accomplishes is to dilute the value of the shares that the rest of us have been holding for years. Someone asked why does it matter as long as they move the share price. The old BoD doesn't know how to move the share price other than down. On a going forward basis, NIS results will drive this up, not the BoD. We just need the BoD to stop doing stupid deals and wasting our cash. We will need the cash when the wells are declared commercial. As for the 10 percent vs 1.5 percent. The difference on 89.5 million shares is 7,607,500. If the value of EW is 100 million, the share price is $1.02 with a 10 percent plan and $1.10 with a 1.5 percent option plan. If you bought into this stock a few years ago let's say at $1+, you gave a right upset with the old BoD. This had to be a Sidoo backed plan. No other CEO would gave the gumption to send this to us for approval. Please wise up folks or Nick, Ross and Mark will become significant owners of our stock, after they were responsible for driving down the price with their stupid JuvaLife deal. Again vote to withhold for Demare, McElroy and Brown. Vote for the new BoD member, Haney. Vote Against the Stock Option Plan and for to set the BoD members at 4 as well as for the auditors.
Bullboard Posts