We may just have a winning CEO. During Greg Renwick's tenure as President and CEO of East West Petroleum Corp., the company engaged in several significant acquisitions and partnerships that expanded its operational footprint:
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Romania: East West Petroleum acquired four exploration concessions covering 1,000,000 acres in the Pannonian Basin, with a farmout agreement with Naftna Industrija Srbije (NIS), a subsidiary of GazpromNeft. This agreement included a commitment to drill 12 wells over a two-year period, with NIS covering the full cost of the work program. Operational/Under Development: The company acquired four exploration concessions in the Pannonian Basin. These projects included a significant partnership with Naftna Industrija Srbije (NIS), a subsidiary of GazpromNeft, to drill 12 wells. The initial results from these efforts led to ongoing developments and operational phases
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New Zealand: The company acquired three exploration permits in the Taranaki Basin. East West Petroleum partnered with TAG Oil to drill multiple wells, with East West covering the initial drilling costs and retaining a significant interest in the production revenues. Operational: East West Petroleum, in partnership with TAG Oil Ltd., conducted successful exploration and production activities in the Taranaki Basin. The Cheal-E site and Cheal South permits produced significant quantities of oil and gas, indicating successful operational outcomes. For instance, the Cheal-G1 well produced 1,020 boe during a flow test and continued to contribute to the company's production metrics
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California: East West Petroleum increased its interest in the Tejon Ranch Main Footwall license area in the San Joaquin Basin from 21.25% to 50% through an acquisition from Solimar Energy Limited. This acquisition provided exposure to both shallow drilling opportunities and deeper, high-potential plays. Operational/Under Development: The company increased its stake in the Tejon Ranch Main Footwall license area, resulting in expanded exploration and development activities. This acquisition aimed at tapping into both shallow and deeper oil reserves in the San Joaquin Basin, positioning it for future operational success.
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India: The company acquired an oil-prone exploration block in the Assam region, partnering with major Indian firms ONGC, Oil India, and GAIL. Under Development: East West Petroleum engaged in exploration activities in the Assam region in partnership with major Indian firms like ONGC, Oil India, and GAIL. These activities are still in the development phase with significant potential for future production
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Morocco: East West Petroleum secured a 100% interest in a 500,000-acre exploration block onshore, targeting both conventional and unconventional resources. Under Development: The company holds a 100% interest in a 500,000-acre exploration block onshore Morocco. This project targets both conventional and unconventional resources and is currently in the exploratory and developmental stages
Look at the SP of EWPC during his tenor from 2010-2013 (when he left). EWPC Chart
Based on the hypothetical data, the average market capitalization of East West Petroleum Corp. from 2010 to 2013 is approximately CAD 78.75 million. This estimate is derived from assumed yearly market cap values of CAD 50 million in 2010, CAD 75 million in 2011, CAD 100 million in 2012, and CAD 90 million in 2013.