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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 lageorgeson Jan 17, 2020 1:36pm
116 Views
Post# 30565892

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Im sure this post will not find favour with all of you. However i thought it necessary to add to this discussion. We do not yet have the details regarding the issuance of options. I think it unlikely that each member has been given 1.3 million shares this is likely the total lets wait for more info before coming down on them.
previous option grants even when the previous CEO was in charge were more modest so I'd be surprised if each member got 1.3 million shares
i  also note that previous options were set to expire, and if i recall only the CEO has a salary but i will need to check the last circular.

Being a Director shouldnt be a volunteer job you want to attract capable and hard working people to the position. I am satisfied Kevin Haney is that I am also satisfied Nick Demarre is as well I have spoken to him and I was impressed with his commitment and knowledge. Over the last few months since he has been working as interim CEO he has worked very hard and done his best to be transparent. How could we possibly replace that ? I dont know the other 2 members but I am prepared to give them a chance.

im glad they are issued shares, it gives them more "skin in the game" as share prices rise we all benefit if share prices dont rise the options are virtually worthless Further if they exercise the options they have to pay the treasury an amount equal to what this stock has been trading at for the last 12 months$0.06 that is reasonable in my mind we can all buy these shares today at that same price if we want to.

So I recommend we chill a bit I know some of you are underwater and have been for a while. Remember the CEO and another member have resigned their seats in 2019. They were the flashpoint for much of the resentment amongst many of you. They are gone. We are now waiting for the closing of the NZ sale. We have been getting a lot more info from Romania lately ... and dont think that comes easy. Frankly speaking EW has an excellent deal here they are essentially carrying EW until the wells are commercial, they are also involved with numerous other projects on the continent .. so even if we dont like we arent their biggest priority but we do ( as do they) benefit from more than a $100 million investment  in exploration and development they have made( to date) . I think we are on the cusp of a significant improvement in the value of the investment ... so im prepared to hang tight for now and the next year !

I offer this as my opinion and will not engage in any argument in the matter I respect your opinions ththis is mine 

good luck to all

Bullboard Posts