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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 Vikingmanon May 01, 2020 9:16pm
147 Views
Post# 30978528

RE:RE:RE:RE:Current situation

RE:RE:RE:RE:Current situationI agree with the sentiments from Jimwatson and Jman. The oversupply of oil from Saudi, Russia, the USA and others, coupled with the temporary demand destruction of oil due to the pandemic, has devastated the price of oil and many oil market participants. EW is in a fortunate position, in that the company is cash/asset rich with a slow burn rate and good stewardship. EW would be wise to hunker down and await the inevitable rebound in oil prices and the resumption of E & P in Romania. NIS, Gazprom and the Serbian Government have deep pockets and a long term view. Kevin has excellent instincts as an oil company manager and I think he sees "the light at the end of the tunnel" and the upside value of EW and its partnership investment in Romania. Good luck to all. Stay safe and enjoy the weekend.
Bullboard Posts