East West Pete Corp (EWPMF)

[Think1st]

Buy aunxf ..look into it
Zero debt , using oil gas to mine bitcoin
Do your dd and don't listen to me.
Yes you know that already

[tigerpac]

Think the company's exiting the oil & gas business so they had to return capital to its shareholders of which key management also participated in. Right now it appear Nick DeMarencontrols the show and will be receiving almost $20k per quarter to figure out what to do next. I show 90,485,000 OS.

Essentially the company is a shell right now. Maybe they become an AI company?

[Al5761]

Would anyone recommend this company?. Is this a good buy, specially if oil prices sky rocket?. I see that the stock price has loose ground this year. Why did they gave money back instead of investing it to acquire more assets. Any insight would be appreciated.

[tigerpac]

Received the special qualified dividend. It was about 72% of what I was expecting which leads me to believe that the OS was quite a bit higher than what has been published.

[tigerpac]

Payment should occur on 9/13/24.

.03 per common share …..be on the lookout for it.

https://www.newsfilecorp.com/release/222019/East-West-Petroleum-Announces-Payment-Date-of-Previously-Announced-Cash-Distribution-to-Shareholders

[JonnyRBuck12]

East West Petroleum mails circular for Aug. 16 meeting

2024-07-30 10:32 ET - News Release


Mr. Nick DeMare reports

EAST WEST PETROLEUM PROVIDES UPDATE ON PROPOSED RETURN OF CAPITAL

East West Petroleum Corp. has provided this update in regard to the status of the proposed return of capital announced on June 19, 2024.

The company has prepared and mailed its management information circular and related proxy materials to its shareholders in connection with the special meeting of shareholders to be held at 10 a.m. Vancouver time on Aug. 16, 2024. The meeting materials have been mailed to shareholders of record as of July 10, 2024. At the meeting, shareholders will be asked to consider, and if deemed advisable, approve a special resolution authorizing and approving, among other things, the distribution to shareholders, on a pro-rata basis, of an aggregate amount of up to $3-million in cash as a return of capital.

Your vote is important regardless of the number of shares you own. As a shareholder, it is very important that you read the meeting materials carefully and then vote at the meeting. You are eligible to vote if you were a shareholder of record at the close of business on the record date. A copy of the meeting materials is available under the company's profile on SEDAR+. The board of directors of the company unanimously recommends that shareholders vote in favour of the proposed distribution.

Shareholders are encouraged to vote well in advance of the proxy voting deadline on Aug. 14, 2024, at 10 a.m. Vancouver time.

Subject to the required approval from shareholders and the TSX Venture Exchange, the company anticipates the distribution will be effective on or about Aug. 23, 2024.

[JonnyRBuck12]

East West Petroleum proposes return of capital

2024-06-19 08:24 ET - News Release


Mr. Nick DeMare reports

EAST WEST PETROLEUM ANNOUNCES PROPOSED RETURN OF CAPITAL

East West Petroleum Corp.'s board of directors has determined that its in the best interest of the company to return capital to its shareholders by way of a reduction in stated capital of the company.

The Company will call a special meeting of its shareholders, to be held in August 2024 (the "Meeting"), where shareholders will be asked to consider and, if advisable, approve, among other things, a reduction in the stated capital of the Company (the "Capital Reduction"), which is currently $39,868,761, by up to $ 3 million, pursuant to the Business Corporations Act (British Columbia), for the purposes of distributing to the holders of common shares of the Company a portion of the Company's cash in the amount of $0.03 per common share (the "Distribution"). The Capital Reduction and the Distribution are subject to, among other things, the receipt of shareholder and regulatory approvals. There can be no assurances that the Capital Reduction and the Distribution will receive the required approvals, or that the Company will proceed with the Capital Reduction or the Distribution.

Further details in respect of the Capital Reduction, the Distribution and special general meeting matters will be announced when determined and will be provided in the management information circular of the Company in respect of the Meeting to be filed with regulatory authorities and mailed to shareholders in July 2024 in accordance with applicable securities laws.

Shareholders and other interested parties are advised to read the materials relating to the Meeting when they become available. Anyone may obtain copies of these documents when available free of charge under the Company's profile at the Canadian Securities Administrators' website at www.sedarplus.ca.

We seek Safe Harbor.

[JonnyRBuck12]

Final Conditions Precedent to Sale of New Zealand Assets Satisfied

Vancouver, British Columbia--(Newsfile Corp. - May 29, 2024) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to report that further to its news release of April 30th, 2024 the purchaser has now obtained final approvals from New Zealand Petroleum & Minerals and as a result all conditions precedent have been met.

Completion of title transfer will occur in New Zealand on May 30th 2024.

The Company wishes to thank all parties involved in this transaction for their efforts in completing this transaction.

On Behalf of the Board

"Nick DeMare"

Nick DeMare,
Director & Interim CEO
604.685.9316

[JonnyRBuck12]

Some updates from East Wests partner in Romania:

https://ir.nis.rs/wp-content/uploads/2024/04/QR_Q1_2024_eng.pdf

Page 5:
March In the first 3 months, 9 development wells and 2 exploratory wells were drilled in Serbia, and 10 development wells were put into operation in Serbia and 2 production wells in Romania

Page 23:
Key events in Romania in the first quarter in 2024:
• Teremia North Project:
? In the part of the oil infrastructure, during 2024, a construction permit was obtained for the South location. The process of selecting a supplier for the oil infrastructure is underway;
? In the part of the gas infrastructure, the detailed project of the infrastructure has been completed, further activities are being carried out to obtain permits from state authorities, consents for land access;
? As part of the interaction with NAMR, permission was obtained for the extension of gas flaring during 2024 from the wells of the base fund and new well;
? In terms of project activities, a geological assurance session was conducted, a complex project analysis was planned in order to further submit the project to the investment and advisory bodies for making the final investment decision.

[JonnyRBuck12]

East West Petroleum Provides Update on Sale of New Zealand Oil and Gas Properties

2024-04-30 05:03 ET - News Release


Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to provide this update in regard to the status of the sale of the New Zealand oil and gas properties.

Pursuant to the terms of the purchase and sale agreement, the purchaser is required to obtain necessary regulatory and governmental approvals as a condition to closing. The Company has been advised by the purchaser that all required filings for approvals have been made, all comments are being addressed and all approvals are expected on or before the May 31st 2024, being the long stop date contemplated by the purchase and sale agreement. Thereafter, and in the event the approvals are not obtained, the Company has the ability, in its discretion, to terminate the agreement.

The Company is also pleased to announce that pursuant to the purchase and sale agreement the purchaser had a contractual obligation to pay the balance owing pursuant to the contract 90 days post signing. This milestone was recently met and the Company has received the balance owing as determined by the purchaser. The purchaser's calculations are subject to compliance review. The Company's cash balance, assuming closing occurs on May 31st will be approximately Canadian $6.7 million.

Further news will be announced as it becomes available.

On Behalf of the Board

"Nick DeMare"

Nick DeMare,
Director & Interim CEO
604.685.9316

[JonnyRBuck12]

I found this article on two different Romanian websites, which leads me to believe that it is current and accurate. Whoever put up that 1.5 million share bid likely saw this article last week.

https://www.profit.ro/povesti-cu-profit/energie/cea-mai-mare-companie-petroliera-din-serbia-controlata-de-gigantul-rus-de-stat-gazprom-pregateste-startul-productiei-comerciale-de-titei-si-gaze-naturale-in-romania-21547237

https://www.ziuadevest.ro/nis-companie-petroliera-din-serbia-controlata-de-gazprom-pregateste-startul-productiei-comerciale-de-titei-si-gaze-naturale-la-periam-si-biled/

Translated:

The largest oil company in Serbia, controlled by the Russian state giant Gazprom, is preparing the start of commercial production of crude oil and natural gas in Romania

NIS Petrol SRL, the Romanian division of the largest oil company in Serbia, Naftna Industrija Srbije (NIS), controlled by the Russian state giant Gazprom, with over 56% of the capital, is preparing the start of commercial production of crude oil and natural gas from the Teremia Nord field , located on the Ex-7 Periam and Ex-8 Biled perimeters in Timi? County, where NIS Petrol is the majority concessionaire and operator, with 85% stakes, according to data analyzed by Profit.ro.

The company is close to starting the construction of a technological station for the collection, separation and delivery of hydrocarbons extracted from the Teremia Nord deposit, in the commune of Dudestii Vechi in Timi?.

There are currently 2 wells drilled on the site and another 8 are to be dug, according to the project documentation. Within the station, the production of the wells will be collected, the liquid will be separated from the gas, the extracted quantities will be measured, and the crude oil will be stored and later loaded into car tanks. NIS Petrol has a contract with the Romanian state company Conpet, the operator of the national oil pipeline transport system, based on which crude oil is unloaded from tanks and reloaded into wagons at Conpet's Biled ramp, to be transported by rail to the Serbian refineries of NIS at Pancevo and Novi Sad.

The Romanian subsidiary of the Serbian company owned by Gazprom estimates a daily production at the Dude?tii Vechi site of 100 tons of crude oil and 165,000 cubic meters of natural gas , of which 60,000 cubic meters – gas associated with crude oil. Part of the extracted gas quantities will be used in the production of electricity on site, and the rest will be fed into the national transmission system operated by Transgaz. For this, NIS Petrol will build a pipeline that will connect with the Nadlac-Arad gas pipeline . The first positive results of the explorations carried out in the Teremia Nord deposit were obtained in 2017, as Profit.ro reported exclusively at that time. Experimental production started in 2019.

According to the latest data from the National Agency for Mineral Resources (ANRM), NIS Petrol is the majority concessionaire and operator of 4 Romanian hydrocarbon perimeters, all located in the west of the country: Ex-7 Periam, Ex-8 Biled and Ex-3 Baile Felix (in partnership with Canadians from East West Petroleum), as well as DEE V-20 Jimbolia (along with Armax Gaz). The concessions were granted in 2010 . 2 other oil agreements to which NIS Petrol is a party, those related to concessions Ex-2 Tria (in which East West Petroleum is also a partner) and Ex-12 Crai Nou (with operator Moesia Oil nad Gas), appear as inactive at ANRM. In the case of Ex-2 Tria, the agreement expired last year and was not extended, and NIS Petrol paid ANRM the value of the mandatory exploration works provided for in the agreement and left unexecuted , according to an official document analyzed by Profit.ro.

In the fall of 2022, several searches were carried out at the offices of NIS Petrol in Timi?oara, in a DIICOT file with suspicions of illegal transmission of information on local hydrocarbon deposits . NIS responded publicly saying that the company's basic principle is strict compliance with applicable legal regulations . Since then, the Romanian judicial authorities have not communicated any information on this topic. Over the years, NIS Petrol has faced problems in the prospecting stages of the Romanian concessioned hydrocarbon perimeters, the works suffering delays due to the refusal of the owners to allow access to the lands. The reasons were their fear that the operator would pursue the exploitation of shale gas through the hydraulic fracturing method , NIS Petrol repeatedly denying that it had this intention , or the desire to protect its business, in the case of farmers .

NIS Petrol SRL, which also owns in Romania a chain of gas stations operated under the Gazprom brand , as well as a 7.5 MW gas-fired power plant in Jimbolia , ended 2022, the last reported year, with losses of over 116 million lei, to total revenues of almost 712 million lei, according to the latest data from the Ministry of Finance. Since the start of activity in Romania, in 2012, and until 2022 inclusive, the company has reported losses every year, in the cumulative figure of over half a billion lei. The Serbian parent company NIS, listed on the Belgrade Stock Exchange, finished last year with a net profit of around 60 million euros, on total revenues of over 870 million euros. Its main shareholders are Gazpromneft, the oil division of Gazprom (50%), Gazprom as such (6.15%) and the Serbian state (almost 30%).

[JonnyRBuck12]

East West Petroleum Provides Update on Sale of New Zealand Oil and Gas Properties

2024-03-25 05:01 ET - News Release


Vancouver, British Columbia--(Newsfile Corp. - March 25, 2024) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to provide this update in regard to the status of the sale of the New Zealand oil and gas properties.

Pursuant to the terms of the purchase and sale agreement, the purchaser is required to obtain necessary regulatory and governmental approvals as a condition to closing. The Company has been advised by the purchaser that all required filings for approvals have been made and such approvals are pending. It is expected that approvals will be obtained on or before the May 31st long stop date contemplated by the purchase and sale agreement. Thereafter, and in the event the approvals are not obtained, the Company has the ability, in its discretion, to terminate the agreement.

In addition the purchaser has indicated they do not expect approvals will be received by March 31st 2024, and as a result the purchaser is contractually committed to reimburse the Company for additional costs it will incur of up to $50,000.

Following the closing of the purchase and sale, it is anticipated that the Company will make a cash distribution to the shareholders. The precise nature and quantum of any distribution will be subject to the completion of the purchase and sale on the terms disclosed, as well as tax and legal advice to structure any distribution in the most tax advantageous way. There can be no assurance that the purchase and sale transaction will be completed and there can be no assurance that the Company will make any distribution to its shareholders and reserves the right to alter, modify or cancel any proposed distribution.

On Behalf of the Board

"Nick DeMare"

Nick DeMare,
Director & Interim CEO
604-685-9316

[JonnyRBuck12]

East West Petroleum Comments on Financial Results for the Nine Months Ended December 31, 2023

Vancouver, British Columbia--(Newsfile Corp. - February 23, 2024) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to comment on its financial results for the nine months ended December 31, 2023.

During the nine months ended December 31, 2023, the Company generated revenue of $2,056,017 with direct costs of $1,842,854 resulting in a gross profit of $213,163 and after corporate expenses and other items the net loss for the period was $158,932. On October 31, 2023, the Company entered into an interim agreement (the "Interim Agreement") with Cheal Petroleum Limited ("Cheal"), the owner of a 70% interest in PMP 60291 and operator, whereby Cheal would purchase the Company's 30% interest in PMP 60291. The key terms of the Interim Agreement were as follows:

i. Purchase price of US $1,000,000.
ii. Effective date of sale is July 31, 2023.
iii. Purchaser assumes all reclamation obligations.
iv. Contingent consideration of US $350,000 should an additional well be drilled and completed.
v. Refundable deposit of US $250,000 (the "Deposit") on signing definitive agreement.

The terms described under the Interim Agreement were subject to the negotiation and execution of a definitive agreement. Closing of the sale (the "Closing") is subject to receipt of all necessary New Zealand Government approvals ("Ministerial Consent"), regulatory and TSXV approval as well as approval of the Company's shareholders. An annual and special meeting of the shareholders of the Company was held on December 15, 2023 and shareholder approval was obtained. As at December 31, 2023, the Company received conditional approval from the TSXV. On January 10, 2024, the Company and Cheal finalized and signed the definitive agreement (the "Asset Sale and Purchase Agreement") which formalized the terms under the Interim Agreement. The deposit due to the Company on signing was received.

Closing is expected to occur upon receipt of Ministerial Consent. In the event the Ministerial Consent is not received by May 31, 2024, the Company may terminate the Asset Sale and Purchase Agreement and if terminated, the Company will be required to return the Deposit. At December 31, 2023 the New Zealand property was, in accordance with IFRS, reclassified as assets held for sale.

In regard to the Company's Romanian assets, the Company and NIS remain in discussions in order to determine the path forward for the properties. All options remain under consideration including a monetization event. The Company is unable to comment on timelines to establish a path forward.

The Company has been reviewing a number of opportunities in both oil and gas and also other resource opportunities. The Company is focussed on closing the sale of its New Zealand assets and once the sale has closed, the Company will be in a better position to pursue other opportunities more aggressively.

At December 31, 2023, the Company had a strong cash position of $5,691,792 being just over $0.06 per share. With the effective date of the sale of the New Zealand assets being July 31, 2023, the Company anticipates it will receive total cash proceeds from this sale of approximately US$600,000. In addition, the Company will, if contingent conditions are met, receive additional consideration of US$350,000. On closing a significant gain on sale will be realized due to the purchaser assuming all reclamation obligations.

On Behalf of the Board "Nick DeMare" Nick DeMare, Director & Interim CEO 604-685-9316

[JonnyRBuck12]

East West Petroleum Announces Sale of New Zealand Oil & Gas Properties

2024-01-10 05:01 ET - News Release

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2024) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") reports that further to the Company's news releases dated November 1st and December 15th , 2023 the Company and purchaser have finalized and signed the definitive agreement for the sale of the Company's oil and gas interests in New Zealand.

A refundable deposit of US$250,000 will now be paid by the purchaser. The sale is subject to receipt of all necessary New Zealand government approvals and the process to obtain such approvals is now underway. Further updates will be provided but the approval process will take some time.

On Behalf of the Board

Nick DeMare,
Director & Interim CEO
604-685-9316

[JonnyRBuck12]

East West Petroleum Announces Results of Annual & Special Meeting

2023-12-15 14:21 ET - News Release

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2023) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to announce that at the Annual & Special Meeting of Shareholders of the Company (the "Meeting") held on December 15, 2023, the shareholders re-elected Messrs. Nick DeMare, Mark T. Brown and Kevin William Haney as directors of the Company. The shareholders also passed all other resolutions including an ordinary resolution to ratify the stock option plan, pursuant to which the Company may grant stock options up to 10% of its issued and outstanding common shares at the time of the grant; and a special resolution approving the sale of the Company's oil and gas properties in New Zealand, as announced November 1, 2023. The Company is continuing to work towards finalizing the definitive agreement with the purchaser and further news will be issued once available.

Following the Meeting, the Board appointed Mr. Nick DeMare as Interim CEO and Corporate Secretary of the Company and Mr. Harvey Lim as Interim CFO. Messrs. DeMare, Brown, and Haney were appointed to the audit committee.

On Behalf of the Board

"Nick DeMare"
Nick DeMare,
Director & Interim CEO

[JonnyRBuck12]

East West Petroleum strikes deal to sell Cheal block

2023-11-01 15:25 ET - News Release

Mr. Nick DeMare reports

AGREEMENT FOR THE SALE OF NEW ZEALAND OIL & GAS PROPERTIES

East West Petroleum Corp. has entered into an interim agreement for the sale of its oil and gas interests in New Zealand (the Cheal block).

The company currently holds a 30-per-cent interest in PMP 60291 and the interim agreement contemplates the purchase of the company's interest in the Cheal Block by the 70-per-cent owner. The key terms of the interim agreement are as follows:
Purchase price of $1-million (U.S.);
Effective date of sale is July 31, 2023;
Purchaser assumes all reclamation obligations, which are estimated to be $633,820 (U.S.);
Contingent consideration of $350,000 (U.S.) should an additional well be drilled and completed;
Deposit of $250,000 (U.S.) on signing definitive agreement.
The terms described herein are binding under the interim agreement but subject to the negotiation and execution of a definitive agreement.

In addition to the definitive agreement, the transaction is conditional upon all necessary New Zealand government approvals, regulatory and exchange approval as well as approval of the East West shareholders.

In connection with the required shareholder approvals, an annual and special meeting of the shareholders of the company has been scheduled for Dec. 15, 2023.

[JonnyRBuck12]

East West financial results came out recently and the company still has $5 million cash in it’s treasury, with Total assets of $5.8m CAD & Liabilities of $1.16m CAD.

Oil production in New Zealand is stable, showing $600K in revenue for the quarter with a $76,000 comprehensive income.

The major catalyst seen in their MD&A is a sale for their Romanian assets could come in Q4 2023. Keeping in mind that NIS had estimated spending at least $60 million USD on this project, so an asset sale would generate a large portion of cash back to East West.

On Page 3 of the Q1 2023 MD&A: The Company and its legal counsel continue to work on the final documentation including possible amendments which would allow closing to occur. In addition the Company has recently been advised by NIS that it is considering a sale of the remaining exploration blocks and the Company has agreed that its 15% interest can be included in such efforts. While the sale process is advancing there is no guarantee that terms will be settled. The Company expects an update in the fourth quarter of calendar 2023.

Additionally, it looks as if a fund has acquired a position in East West (see page 14 of the presentation):

https://www.mineralandfinancial.com/wp-content/uploads/2023/08/MFI-Investor-Presentation-Aug-2023-v-2.0.pdf

[JonnyRBuck12]

Quarterly results came out today for East West. The company still has over $5 million CAD in cash with total assets at $5.69 million and total liabilities at $1.32 million.

Revenue was down for the quarter due to some wells being worked over, which means we should get a bounce back next quarter. But the key thing that changed in their MD&A that caught my eye was this:

The Company and its legal counsel continue to work on the final documentation including possible amendments which would allow closing to occur. In addition the Company has recently been advised by NIS that it is considering a sale of the four exploration blocks and the Company has agreed that its 15% interest can be included in such efforts. Any such endeavors are not expected to be advanced in the near term.

Selling the Romanian asset is a much better outcome for NIS and EW, rather than putting it into production and slowly getting paid out. We know that NIS has invested over $60 million USD in this asset over the last decade, with East West putting nothing into it, but still retaining a 15% stake.

[JonnyRBuck12]

Continued insider buying on East West. Financial results should be out end of February or early March:

https://ceo.ca/api/sedi?symbol=EW

[JonnyRBuck12]

East West CFO DeMare resigns; Lim appointed in interim

2023-02-02 14:21 ET - News Release

An anonymous director reports

EAST WEST PETROLEUM ANNOUNCES CFO CHANGE

East West Petroleum Corp. has accepted the resignation of Nick DeMare as chief financial officer of the company and has appointed Harvey Lim as interim CFO in his stead. Mr. DeMare will remain as interim CEO and corporate secretary of the company.

Mr. Lim holds a bachelor of commerce degree from the University of British Columbia and is a member in good standing of the Institute of Chartered Professional Accountants of British Columbia. Mr. Lim has previously worked for Coopers & Lybrand (PricewaterhouseCoopers LLP) and Ingot Management Ltd. Since 1991, Mr. Lim has held the position of controller for Chase Management Ltd., a private company which provides accounting and management services to companies listed on the TSX Venture Exchange or the Toronto Stock Exchange and its predecessors. Mr. Lim also serves as officer and/or director of other publicly listed companies.

About East West Petroleum Corp.

East West is a TSX Venture Exchange-listed company established in 2010 to invest in international oil and gas opportunities. The company has its primary focus on two key areas: New Zealand, where it has established production and cash flow, and Romania, where it is carried to production on an exploration program. In Romania, the company has exploration rights in four exploration concessions covering one million acres in the prolific Pannonian basin of western Romania with Naftna Industrija Srbije. The company does not own the acres but has exploration rights.

[JonnyRBuck12]

Just a little refresher for current shareholders and new investors regarding Romania:

https://www.eastwestpetroleum.ca/projects/romania/

The original deal struck between East West Petroleum and NIS in 2011 was that NIS would earn 85% interest in this 1,007,500-acre project by completing the first phase of work, having an estimated budget of $62,335,000 USD and proving production capabilities on the first part of the package.

This has been achieved and facilities + test production is going on as we speak at the moment, as per the most recent NIS financial report:

https://ir.nis.rs/fileadmin/template/nis/pdf/Reporting/BusinessReports/English/QR_Q3_2022_eng.pdf

(see pages 5, 6, 24, 34) – All dialogue regarding Teremia is based on the land parcel with East West

Recently, East West made a deal with NIS to sell it’s remaining 15% stake in exchange for $500,000 USD and a 2.1% Royalty on production from anywhere on the 1,007,500-acre project, without any time or value cap. This makes sense because NIS is a multi billion-dollar company from Serbia and East West cannot keep up investing in such a large project. However, NIS can easily pay EW several million dollars a year from a royalty standpoint, in order to fully control and produce from this lease. Keeping in mind this is just the first phase of the project and there are many other drill targets to search for Oil/Gas.

What stops this deal from completing at the moment are sanctions from the Russia/Ukraine war. Gazprom owns a 56% stake in NIS, which doesn’t allow for the deal to be completed. In the meantime, Serbia has looked at either selling Gazproms stake in the company, or nationalizing NIS. This is because sanctions will begin for Serbia soon, based on association with Gazprom, and NIS is the largest company in country. Either solution would allow for the deal to be completed.

In the end, this royalty has tremendous value because it allows East West to generate cash flow from the lease, without any production cost risk. Payments will vary somewhat from quarter to quarter, but it would continue for quite some time.

[JonnyRBuck12]

East West Petroleum Corp Q2 2022. All information is available on Sedar.

Symbols: EW (Canada) – EWPMF (USA) – 37A (Frankfurt)
Prices (November 24, 2022): $0.075CAD - $0.055USD - €0.039EUR
Shares Outstanding: 89,585,665
Options: 400,000 @ $0.10 | 1,890,000 @ $0.06
Warrants: Nil

Allowable Capital Losses: $8,440,000
Non-Capital Losses Available For Future Periods: $28,550,000
Canada: $17,329,000 from 2026-2042 & New Zealand: $11,221,000 (No Expiry Date)
**See Audited Results For More Details**

Financials

ASSETS
Cash: $5,116,085
GST Receivable: $6,602
Amounts Receivable: $294,319
Oil Inventory: $110,014
Prepaid Expenses: $36,082
Property, Plant & Equipment: $230,009
Total Assets: $5,793,111

LIABILITIES
Accounts Payable: $289,284
Decommissioning Liabilities: $997,138
Total Liabilities: $1,286,422

Six Month Performance
Revenue: $1,670,890
Comprehensive Income: $317,820

(Only recent updates. Prior quarterly information is available on Sedar)

Romania

Without a joint declaration of a commercial discovery it is the Company’s position that commercial development of the field cannot proceed, NIS did not share this opinion. Rather than litigating this issue the discussions continued with NIS in an attempt to find a way forward. Given the consequences of a commercial discovery decision and significant funding obligations the Company and NIS continued negotiations on all available options including a monetization event. Negotiations were progressing well and a non-binding letter of intent was finalized. The parties were moving towards final documentation with essential terms of a monetization event agreed, being a cash payment of US $500,000 and a royalty interest of 2.1%, as defined. The outbreak of war between Ukraine and Russia brought all attempts to implement the agreed terms to a halt, with the issue being that NIS is owned, in part, by a Russian entity which is subject to Canadian government sanctions. The Company and NIS are working on the final documentation to implement the agreed terms once closing is possible.

[JonnyRBuck12]

News Article - Serbia Won't Rule Out Nationalizing Its Oil Industry - Good For East West

This is good news for East West as it would allow the company to complete the cash & royalty deal mentioned in their management discussion information:

On page 4 of MD&A - Negotiations were progressing well and the parties were moving towards final documentation with essential terms of a monetization event agreed, being some limited cash and a royalty interest. The outbreak of war between Ukraine and Russian brought all attempts to implement the agreed terms to a halt, with the issue being that NIS is owned, in part, by a Russian entity which is subject to sanctions. The Company is considering what steps could be implemented to allow the transaction to proceed.

recent article - https://oilprice.com/Latest-Energy-News/World-News/Serbia-Wont-Rule-Out-Nationalizing-Its-Oil-Industry.html

[JonnyRBuck12]

East West Petroleum: Stocks trading at Less Than Cash Value on TSX-V (EW)

The Globe and Mail - Sun Sep 25, 7:02AM CDT

https://www.theglobeandmail.com/investing/markets/stocks/EW-X/pressreleases/10380730/east-west-petroleum-stocks-trading-at-less-than-cash-value-on-tsx-v-ew/?ocid=edgsp

East West Petroleum is among the group of TSX Venture Exchange companies currently trading at less than cash value. This means companies whose current share price is less than the cash per share on their balance sheet or stocks with more cash than market cap. (Chart shows P/E of 4.009)

This report is generated monthly. It also shows the value of cash net debt per share to show how much cash per share would be left if the debt was paid off. Stocks in this category are held primarily for speculation. Companies can have more cash per share than the actual share price for a number of reasons including that they just raised capital, are in industries that experience high burn rates and will eat through the cash quickly or there is a lot of uncertainty about the future of the company. Companies earning a positive net income will have a price-to-earnings, or P/E, ratio greater than zero and are worth exploring in more detail.

More about East West Petroleum

East West Petroleum Corp is an oil and gas exploration and production company. It is engaged in exploring, developing and producing from its oil and gas properties. Its current portfolio is made up of exploration concessions in New Zealand and Romania.

[JonnyRBuck12]

Here's a snippet of another article that came out today and it mentions how the Serbian government could take NIS private this fall. This would make the sanction issue go away as well.

https://carnegieendowment.org/politika/87959

EU sanctions on Russian energy exports are likely to shrink Russia’s economic presence in the Balkans significantly, disrupting some of the flows of Russian oil and gas that have long been a mainstay of trade relations with the region. Serbia has ostentatiously resisted EU pressure to join the sanctions regime, which has had a negative impact on NIS, the country’s major oil company. Gazprom Neft until recently held the majority stake, which served as a key symbol of Russian political and economic influence in Serbia. However, Croatia plans to implement EU sanctions that will cut off NIS’s ability to import Russian oil starting in December. Due to fears of other secondary sanctions, Vucic has indicated that he may need to nationalize NIS this fall and sell Gazprom Neft’s remaining stake in the company to another buyer to keep it operational.

[JonnyRBuck12]

Today the European Union approved an acquisition by NIS, which is a positive sign for East West. Reason being that sanctions have held back NIS/EW from closing a royalty deal on a million acres of heavily developed Oil/Gas leases in Romania. This Royalty will be worth serious money once the deal is completed as it's going to generate revenue immediately. Gazprom still owns a majority stake in NIS and if the European Union allowed them to acquire HIPP, then acquiring EW's 15% in Romania shouldn't be an issue.

https://ec.europa.eu/commission/presscorner/detail/en/mex_22_5672

Mergers: Commission clears acquisition of HIPP by NIS
The European Commission has approved, under the EU Merger Regulation, the acquisition of HIP-Petrohemija LLC Pancevo (‘HIPP') by Naftna Industrija Srbije a.d. Novi Sad (‘NIS'), both of Serbia. HIPP is a petrochemical company active in the production and distribution of products such as ethylene, polyethylene and synthetic rubber. NIS is a vertically integrated energy company. The Commission concluded that the proposed acquisition would raise no competition concerns given the companies' moderate combined market positions resulting from the proposed transaction. The operation was examined under the simplified merger review procedure. More information will be available on the Commission's competition website, in the public case register under the case number M.10612. (For more information: Arianna Podesta – Tel.: [phone]; Maria Tsoni – Tel.: [phone])

[JonnyRBuck12]

East West Petroleum Corp Q1 2022 Results. All Information Is Available On Sedar.

Symbols: EW (Canada) – EWPMF (USA) – 37A (Frankfurt)
Prices (August 29, 2022): $0.10CAD - $0.075USD - €0.06EUR
Shares Outstanding: 89,585,665
Options: 2.79 Million (Between $0.06 and $0.135)
Warrants: Nil

Allowable Capital Losses: $8,440,000
Non-Capital Losses Available For Future Periods: $28,550,000
Canada: $17,329,000 from 2026-2042 & New Zealand: $11,221,000 No Expiry Date
**See Audited Results For More Details**

Financials

ASSETS
Cash: $5,044,036
GST Receivable: $5,129
Amounts Receivable: $592,173
Oil Inventory: $145,663
Prepaid Expenses: $25,260
Property, Plant & Equipment: $269,156
Total Assets: $6,081,417

LIABILITIES
Accounts Payables: $540,255
Decommissioning Liabilities: $1,102,282
Total Liabilities: $1,642,537

Q1 2022 Performance
Revenue: $1,016,787
Net Income: $250,011

Q1 2022 MD&A Highlights

New Zealand

The Company has operations in the Taranaki Basin of New Zealand. All licenses were previously operated by the Company’s original partner, TAG Oil Ltd. (“TAG”), and all wells are targeted shallow Miocene targets in the Urenui and Mt. Messenger formations which have been shown to be productive for oil and gas throughout the Basin, including the Cheal field. The Company holds a 30% working interest in the Petroleum Exploration Permit (“PEP”) 54877 and the Petroleum Mining Permit PMP 60291 (“Cheal East”) and TAG held the remaining 70%. In September 2019 TAG completed the sale of substantially all of its Taranaki Basin assets and operations which included their interest in PEP 54877 and PMP 60291 to Tamarind Resources Pte. Ltd. (“Tamarind”). In light of TAG’s decision to sell the majority of its interest in the Taranaki Basin assets the Company assessed its options with respect to its 30% interest in Cheal East and, on June 24, 2019, the Company signed a heads of agreement pursuant to which the Company had agreed to sell its 30% interest in PEP 54877 and PMP 60291. On August 1, 2020 the Company terminated the Definitive Agreement. The Company continues to assess its go-forward plans, which includes the possible sale of its New Zealand concessions to other buyers.

During fiscal 2022 Cheal conducted a detailed prospectivity review of PEP 54877 and advised the Company that the forecasted economic prospects of PEP 54877 does not meet Cheal’s internal risk criteria. Although no final decision has been made to relinquish the permit in December 2022, the Company determined to record an impairment of $1,627,056 for costs incurred to March 31, 2022.

During Q1/2023 the Company produced 18.1 Mbbl oil and 15.7 Mmcf gas compared to 18.3 Mbbl oil and 11.6 Mmcf gas during Q4/2022. The Cheal-E5 was offline for all of Q4/2022 and Q1/2023. The Cheal-E5 went down due to a downhole related issue which appears to be parted rods. A full workover of the Cheal-E5 well was completed during Q1/2023 and the Cheal-E5 came back on line on June 30, 2022. Approximately 385 bbls of kill fluid needed to be recovered after the workover and oil production started again on July 7, 2022. The Cheal-E6 went offline during Q3/2022 due to downhole related issues which appears to be a wax plug. The operator carried out rod work and installed a new pump while the well was off line. The Cheal-E6 started back on-line near the end of Q4/2022 and was fully producing for all of Q1/2023.

Romania

During fiscal 2010 the Company was informed by the government of Romania that it had been awarded four exploration blocks located in the Pannonian Basin, in western Romania. In May 2011 the Company signed petroleum concession agreements with the National Agency for Minerals and Hydrocarbons (“NAMR”) the government agency in Romania which regulates the oil and gas industry. The four concessions have specific mandatory work programs (the “Romania Work Programs”), which were estimated at US $63,000,000 for all four programs. Production from the concessions is also subject to royalties of between 3.5% to 13.5% based on quarterly gross production payable to the government.

Without a joint declaration of a commercial discovery it is the Company’s position that commercial development of the field cannot proceed, NIS did not share this opinion. Rather than litigating this issue the discussions continued with NIS in an attempt to find a way forward. Given the consequences of a commercial discovery decision and significant funding obligations the Company and NIS continued negotiations on all available options including a monetization event. Negotiations were progressing well and the parties were moving towards final documentation with essential terms of a monetization event agreed, being some limited cash and a royalty interest. The outbreak of war between Ukraine and Russian brought all attempts to implement the agreed terms to a halt, with the issue being that NIS is owned, in part, by a Russian entity which is subject to sanctions. The Company is considering what steps could be implemented to allow the transaction to proceed.

Total sales revenues increased from $290,042 in Q1/2022 to $1,016,787 in Q1/2023. The increase is attributable to a an increase in total sales volumes due to significantly higher production during Q1/2023 compared to Q1/2022. During Q1/2022 the Cheal-E1 well, which is the Company’s biggest producing well, and the Cheal-E2 well were offline due to blockages.

Commitments

The Company’s share of expected exploration and development permit obligations and/or commitments as at June 30, 2022 are approximately $620,000 to be incurred during fiscal 2023. The Company may choose to alter the program, request extensions, reject development costs, relinquish certain permits or farm-out its interest in permits where practical.

Outstanding Share Data

The Company’s authorized share capital is unlimited common shares with no par value. As at August 29, 2022 there were 89,585,665 outstanding common shares and 2,790,000 share options outstanding with exercise prices ranging from $0.06 to $0.135 per share.

[JonnyRBuck12]

Some very important articles have come out over the last 2-6 weeks regarding NIS/Serbia and EU sanctions, which could stifle growth in Serbia due to higher gas prices, as well as damage some of the country’s strongest businesses. Based on the articles below, it is quite likely that a deal will occur by November 2022 or sooner, which is when the sixth EU sanction package against Russia takes effect and will hurt Serbia. All that needs to occur is for Gazprom(56% shareholder of NIS) to reduce their stake to 49.9% or less(under 50%) and then all sanctions can be avoided. This will then allow NIS and East West to complete their deal, as stated in EW’s news release and MD&A.

May 2022 – Verification of EW/NIS leases and that they will be going into production

https://www.profit.ro/povesti-cu-profit/energie/vanzarile-de-produse-petroliere-ale-filialei-gazprom-in-romania-au-crescut-de-2-5-ori-in-pofida-razboiului-din-ucraina-20711577

"NIS Petrol Romania has in its portfolio six oil and gas perimeters on the territory of Romania, with operator status in all of them . Four concessions are for exploration-development and exploitation activities in partnership with the Canadian company East West Petroleum (two in Bihor county – EX-2 Tria and EX-3 Baile Felix and two in Timi? county – EX-7 Periam and EX-8 Biled ). A fifth concession is held in partnership with Zeta Petroleum and Armax Gaz, namely the oil development and exploitation concession in the perimeter of DEE V-20 Jimbolia, Timi? county. The sixth concession for exploration-development-exploitation activities is also located in Timi? County, in the EX-12 Crai Nou perimeter."

July 14 2022 – "Serbian President announces potential of Serbia taking Russian stake in NIS to avoid problems from Sanctions"

https://balkaninsight.com/2022/07/14/serbia-mulls-taking-over-mainly-russian-owned-oil-company/

July 29 2022 – NIS Financial results, showing growth of production in Romania. Some of that revenue is likely from EW’s JV lease, which means that the royalty deal pending would start to pay out right away, once completed.

https://ir.nis.rs/fileadmin/template/nis/pdf/Reporting/BusinessReports/English/QR_Q2_2022_eng.pdf

[JonnyRBuck12]

East West news release shortly after financial results came out. It's basically identical to the summary that was posted. The key now is for the company to complete that royalty deal with NIS of Serbia for the million acre lease in Romania, along with continuing to build cash from their oil production in New Zealand, which goes for Brent pricing.

https://www.stockwatch.com/News/Item/Z-C!EW-3285777/C/EW

[JonnyRBuck12]

East West Petroleum Audited Annual Results (Ending March 31, 2022)
All information is available at www.sedar.com

Symbols: EW (Canada) – EWPMF (USA) – 37A (Frankfurt)
Prices: $0.105 CAD - $0.848 USD - €0.058
Shares Outstanding: 89,585,665
Options: 2.79 Million (Between $0.06 and $0.135)
Warrants: Nil

Financials (In Canadian Dollars)

ASSETS
Cash: $5,145,788 - $0.0574c per share
GST Receivable: $3,649
Amounts Receivable: $38,870
Oil Inventory: $265,867
Prepaid Expenses: $39,292
Property, Plant & Equipment: $236,425
Total Assets: $5,729,891

LIABILITIES
Accounts Payable: $355,037
Decommissioning Liabilities: $1,185,985
Total Liabilities: $1,541,022

Allowable Capital Losses: $8,440,000
Non-Capital Losses Available For Future Periods: $28,550,000
- Canada: $17,329,000 from 2026-2042 & New Zealand: $11,221,000 No Expiry Date

Updated Information From Management Discussion

*Important Notes*
- Cash increased $269,284 between Q3 2021 and Q4 2021
- Q1 2022 financial results will be released end of August 2022
- Impairment charge of $1,627,056 in 2021 on leases that were not going to be worked on
- NIS/EW Deal in place for a cash/royalty deal on their Romania asset

New Zealand

During fiscal 2022 Cheal conducted a detailed prospectivity review of PEP 54877 and advised the Company that the forecasted economic prospects of PEP 54877 does not meet Cheal’s internal risk criteria. Although no final decision has been made to relinquish the permit in December 2022, the Company has determined to record an impairment of $1,627,056 for costs incurred to March 31, 2022.

PMP 60291 is the location of the Cheal E-Site and the Cheal E-site production facility as well as the Cheal-E wells. A waterflood program is ongoing however the efficacy of the program and its impact on production is an ongoing item of debate. The Company’s technical advisors have stated that there is no unequivocal evidence that water injection through the Cheal-E7 well has had a significant impact on production from PNP 60291 but that there is evidence to the contrary. The Company’s advisors attribute the production performance to other factors than injection through the Cheal-E7 well. The determination whether the waterflood utilizing Cheal-E7 as the injector well is creating the positive response in production impacts the Company’s obligation to fund its 30% share of the costs of acquiring the Cheal-E7 well, being 30% of NZ $3,200,000. No funding has been advanced, and no funding will be advanced until the issue is resolved.

The Company produces its oil and gas production from five wells on the Cheal-E site. On October 24, 2020 the ChealE1 pump stopped functioning due to downhole blockage and, as a result, production ceased from the Cheal-E1 well. As the major producing well, the stoppage of the Cheal-E1 well had a major impact on the Company’s share of production. In mid-January the Operator managed to pull the rods out of the Cheal-E1 well with a crane, cleaned the well and replaced the pump. However, only limited production resumed in mid-January 2021 without annular flow. In addition, in early March 2021 the Cheal-E2 well stopped working and several attempts to restart the well over the following three weeks were unsuccessful. Workovers of the Cheal-E1 well and the Cheal-E2 well were not completed until early August 2021 including the clearing of downhole wax and sand issues. The workovers were successful in re-establishing production in both wells. A trial of a two-stage downhole pump in Cheal-E1 proved to be too vulnerable to sand production issues and was replaced with a single stage downhole pump as previously employed. This is working reliably and an increase in flow was successfully implemented in Q3/2022.

As a result of the continued Cheal-E1 stoppage and the addition of the stoppage of the Cheal-E2 well, oil and gas production was significantly less from October 2020 to early August 2021. Only three wells, the Cheal-E5, E6 and E8 were fully producing for Q1/2022. During Q2/2022 all five wells the Cheal-E1, E2, E5, E6 and E8 were producing.

During Q4/2022 the Company produced 18.3 Mbbl oil and 11.6 Mmcf gas. compared to 19.5 Mbbl oil and 15.1 Mmcf gas during Q3/2022. The decreases were a result of both the Cheal E-5 and Cheal E-6 wells going offline for the last month of Q3. The Cheal E-5 went down due to a downhole related issue which appears to be parted rods. Workover planning is currently underway with a full workover being scheduled for the end of Q2/2023. The Cheal E-6 went offline due to downhole related issues which appears to be a wax plug. The operator carried out rod work and installed a new pump while the well was off line. The Cheal E-6 started back on-line near the end of March 2022.

Romania

The four concessions have specific mandatory work programs (the “Romania Work Programs”), which were estimated at US $63,000,000 for all four programs. Production from the concessions is also subject to royalties of between 3.5% to 13.5% based on quarterly gross production payable to the government

As operator, NIS has reported resumption of exploration and production activities in the EX-2, EX-3, EX-7 and EX-8 exploration blocks in Romania. EWP has a 15% carried interest during the commitment work programs in all four blocks which includes for the drilling of a total of twelve exploration wells (three per block). It should be noted that all activities are dependent on securing the necessary government and local approvals.

Blocks EX-2 and EX-3

Interpretation of seismic data has continued although no commercially viable exploration prospects have been identified to date. NIS has proposed to request an extension of the exploration periods beyond the contractual maximum of ten years while the prospectivity of the blocks is under review. No commitment wells have been drilled to date in either block.

Block EX-7

Two phases of testing have been performed on exploration well BVS-1000. Despite fracture stimulation in the second testing phase, oil production from the well has rapidly declined to currently around 30 bopd. NIS consider the well has invalidated the pre-drill subsurface geological model and re-interpretation of the prospect is underway prior to a decision to either suspend or abandon the well. Deviated appraisal well, Teremia-1001, drilled on the Teremia North Field, has been completed as a production well after a period of experimental production testing. All work program commitments in the block have been met.

Block EX-8

Testing of exploration well Pesac-1000 has been completed although with negative results. Deviated appraisal well Teremia-1002, drilled on the Teremia North Field, has been completed as a production well after a period of experimental production testing. Exploration well, Teremia-1201, was drilled to test a possible extension to the Teremia North Field but failed to encounter hydrocarbons. It was subsequently sidetracked into the Teremia North Field in 4Q/2021 and has now been completed as a production well and renamed Teremia-1004.

There have been several meetings of both the technical and operating committees to discuss work program results and determine whether the Teremia North field is a commercial discovery. At the operating committee meeting held

February 8, 2021 NIS voted that there was a commercial discovery at Teremia North whereas the Company voted that there was not a commercial discovery. The field economics were, in the Company’s assessment, marginal and did not merit the significant capital contributions required. NIS, being a vertically integrated oil and gas producer, could support the development costs given the internal economies available.

Without a joint declaration of a commercial discovery it is the Company’s position that commercial development of the field cannot proceed, NIS did not share this opinion. Rather than litigating this issue the discussions continued with NIS in an attempt to find a way forward. Given the consequences of a commercial discovery decision and significant funding obligations the Company and NIS continued negotiations on all available options including a monetization event. Negotiations were progressing well and the parties were moving towards final documentation with essential terms of a monetization event agreed, being some limited cash and a royalty interest.

The outbreak of war between Ukraine and Russian brought all attempts to implement the agreed terms to a halt, with the issue being that NIS is owned, in part, by a Russian entity which is subject to sanctions. The Company is considering what steps could be implemented to allow the transaction to proceed.

Total sales revenues decreased by 39%, from $644,832 in Q3/2022 to $396,309 in Q4/2022 primarily due to a 54% decrease in sales volume, from 6,681 BOE in Q3/2022 compared to 3,067 BOE in Q4/2022. The decrease in sales volume is primarily due to the Cheal E-5 well being shut-in for repairs during Q4/2022.

Total sales revenues increased by $37,091 from $359,218 in Q4/2021 to $396,309 in Q4/2022. The increase is primarily attributed to the increase in the average realized price per BOE from $71.96 in Q4/2021 to $129.22 in Q4/2022.

The Company’s share of expected exploration and development permit obligations and/or commitments as at March 31, 2022 are approximately $660,000 to be incurred during fiscal 2023 and $16,000 over the next five years. The Company may choose to alter the program, request extensions, reject development costs, relinquish certain permits or farm-out its interest in permits where practical.

[JonnyRBuck12]

East West cancels sale of 30% interest in Cheal permits

2020-08-04 10:08 MT - News Release


An anonymous director reports

EAST WEST PETROLEUM ANNOUNCES TERMINATION OF AGREEMENT

East West Petroleum Corp. has terminated the agreement regarding the sale of its 30-per-cent interest in petroleum exploration permit 54877 and petroleum mining permit 60291 (the Cheal permits) to an arm's-length private New Zealand company, on the terms previously announced in a news release of the company dated June 24, 2019.

The continuing delays and an effective date of April 1, 2019, make the agreement not in the best interests of shareholders. The company will continue to work to bring value to shareholders from its 30-per-cent interest, which can include the sale of the working interest.

About East West Petroleum Corp.

East West Petroleum was established in 2010 to invest in international oil and gas opportunities.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

East West extends sale of Cheal permits by 30 days

2020-06-24 15:35 MT - News Release


Mr. Nick Demare reports

EAST WEST PETROLEUM ANNOUNCES EXTENSION AGREEMENT

East West Petroleum Corp. is providing this further update regarding the sale of its 30-per-cent interest in petroleum exploration permit 54877 and petroleum mining permit 60291 (the Cheal permits), to an arm's-length private New Zealand company, on the terms previously announced in a news release of the company dated June 24, 2019.

In a news release of April 23, 2020, the company provided an update on closing and commented that it was uncertain when closing could occur. At this time, due in part to COVID-19 issues and regulatory issues of the 70-per-cent owner which have now been resolved, limited progress has been made in regards to securing the government's consent, as required, by June 24, 2020, and agreement has been reached that provides for an initial extension of up to 30 days. Further news will be announced as it becomes available.

About East West Petroleum Corp.

East West has its primary focus on two key areas: New Zealand, where it has established production and cash flow; and Romania, where it is carried to production on an exploration program. In Romania, the company has exploration rights in four exploration concessions covering one million acres in the prolific Pannonian basin of western Romania with Naftna Industrija Srbije (NIS). The company does not own the acres but has exploration rights.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

Update from SEW.H, which EW holds over 500k shares in and has not traded in over a year:

2020-05-11 12:55 MT - News Release

Mr. Peter Espig reports

SEAWAY ANNOUNCES VOLUNTARY DELISTING FROM THE TSX VENTURE EXCHANGE

Seaway Energy Services Inc., further to its news release dated Feb. 24, 2020, has made an application to the TSX Venture Exchange to voluntarily delist its common shares from the TSX-V in support of a listing of the common shares on the Canadian Securities Exchange. The Company anticipates that its Common Shares will be voluntarily delisted from the TSXV immediately following the close of trading on May 12, 2020. The Company has received conditional approval from the CSE and trading is anticipated to commence shortly.

The Company will complete a three-cornered amalgamation with Sweet Earth Holdings Inc. ("Sweet Earth") a vertically integrated and award-winning company focused on hemp production and CBD related products. A member of the American National Hemp Association and Leaping Bunny accredited, the Company maintains a complete "farm to shelf" platform. Its farms focus on pure organic hemp growing while production specializes on high-end CBD products that can be purchased on its website and high-end distributers in the United States.

Sweet Earth maintains business operations and networks in the following jurisdictions:

North America: Hemp-focus agronomy research, product development, main farm production, drying, and extraction facilities are headquartered in the State of Oregon. It has a distribution office and acreage package in California, the world's largest market for CBD products;

European Union (EU): Sweet Earth expanded its operations into the EU in 2020, by securing land and production capacity in Spain. Its Spanish farm augments access to European markets through strong distribution partnerships;

South America: The Company is currently expanding into Panama, for its Central and South American operations, and has signed an LOI with a leading pharmaceutical company for distribution throughout the region;

Asia: Focused is on anti-ageing creams for the Japanese and Korean markets.

The Sweet Earth Brand and products continues to garner high ratings and sales expansion because of its superior agriculture and cutting-edge product development.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to provide this corporate update.

OPERATIONAL UPDATES

Romania

The Company's joint venture partner and operator, Naftna Industrija Srbije ("NIS"), has provided the following operational update for Romania.

Due to the Covid-19 pandemic the state of emergency and a nationwide lockdown was imposed by the Romanian government on March 25, 2020. Consequently, the operator NIS, has temporarily ceased new exploration field activity until such time that the lockdown is lifted and social distancing requirements can be safely relaxed. It is expected that this will substantially delay the planned 2020 exploration programs in the EX-2, EX-3, EX-7 and EX-8 exploration blocks in Romania. As usual, it should be noted that all activities are dependent on securing the necessary government and local approvals.

Block EX-2; an acquisition program of 170 Km2 of 3D seismic was completed in 4Q 2019. Processing is expected to be completed in May 2020. Exploration drilling is anticipated to commence in 2021.

Block EX-3; interpretation of the 223 km2 of 3D seismic acquired in 2018 has been completed. This work has identified several exploration prospects with drilling expected to commence in 2021.

Block EX-7; testing of the BVS-1000 exploration well, which was drilled and completed to 3,800 m in 1Q 2019, has been postponed until 2021.

On the Teremia North discovery, the initial discovery well, Teremia-1000 has experienced mechanical problems resulting in an inflow of formation water. A workover is planned for 2021. An appraisal well, Teremia-1001, was drilled and completed in 1Q 2019 and, following initial testing, was placed on long term experimental production in July 2019. Production rates have stabilised around 150 bopd.

Block EX-8; A second appraisal well, Teremia-1002, was drilled into the extension of the Teremia North discovery in Block EX-8. The well was completed and tested in 4Q 2019 and has subsequently been placed on long term experimental production with rates stabilising around 150 bopd.

Following the drilling of the Pesac Sud-1000 exploration well in 3Q 2019, two separate intervals were tested in 4Q 2019. Both tests failed to indicate the presence of hydrocarbons. Future testing of potentially prospective shallower zones is being considered for 2021.

NIS Petrol is committed to fulfilling the commitment work programs in all blocks, considering certain legislative changes and being granted appropriate extensions due to the current Covid-19 situation.

NIS will be funding 100% of the costs and fully carrying East West through the commitment work programs in each of the blocks in return for earning an 85% interest in each licence.

New Zealand

The Company's news release of February 3rd 2020 reported that the local regulatory issues of Cheal Petroleum, the owner of a 70% interest in the permits and the operator, had been resolved such that the Company could proceed to close the transaction for the sale of its 30% interest. The Company had agreed with an arm's length local New Zealand purchaser to sell, with an effective date of April 1st 2019 its interest in Petroleum Exploration Permit 54877 and Petroleum Mining Permit 60291 for sale proceeds of US$1,900,000 in cash. Net revenue, as defined, since April 1st 2019 is being credited to the purchase price such that as at March 31st 2020 the Company has received approximately US $ .95 million of the sale proceeds. The Company had anticipated that as of this date it would have closed the sale but as result of the COVID-19 pandemic and subsequent shut down of various government offices in New Zealand, which must approve the transfer of the properties, it is uncertain when closing can occur. At this time it is not known when all government approvals to the sale will be in place and therefore a closing date cannot be determined other than pursuant to the agreement with the purchaser closing must occur, subject to possible extensions, by June 24th 2020.

From an operational perspective with the recent collapse in price of oil the economics of continuing operations at Cheal is under review. The operator has reported that they have initiated preliminary plans to investigate the real possibility of closing in production at Cheal.

About East West Petroleum Corp.

East West Petroleum Corp. (www.eastwestpetroleum.ca) is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. The Company has its primary focus on two key areas: New Zealand, where it has established production and cash flow and Romania where it is carried to production on an exploration program. In Romania the Company has exploration rights in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije ("NIS"). The Company does not own the acres but has exploration rights.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements: Certain statements in this press release are "forward-looking statements" which reflect the Company's current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "estimates", "predicts" or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere in the Company's filings on SEDAR. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Nick Demare
[e-mail]
Tel: [phone]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54767



© 2020 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to provide this corporate update.

OPERATIONAL UPDATES

Romania

The Company's joint venture partner and operator, Naftna Industrija Srbije ("NIS"), has provided the following operational update for Romania.

Due to the Covid-19 pandemic the state of emergency and a nationwide lockdown was imposed by the Romanian government on March 25, 2020. Consequently, the operator NIS, has temporarily ceased new exploration field activity until such time that the lockdown is lifted and social distancing requirements can be safely relaxed. It is expected that this will substantially delay the planned 2020 exploration programs in the EX-2, EX-3, EX-7 and EX-8 exploration blocks in Romania. As usual, it should be noted that all activities are dependent on securing the necessary government and local approvals.

Block EX-2; an acquisition program of 170 Km2 of 3D seismic was completed in 4Q 2019. Processing is expected to be completed in May 2020. Exploration drilling is anticipated to commence in 2021.

Block EX-3; interpretation of the 223 km2 of 3D seismic acquired in 2018 has been completed. This work has identified several exploration prospects with drilling expected to commence in 2021.

Block EX-7; testing of the BVS-1000 exploration well, which was drilled and completed to 3,800 m in 1Q 2019, has been postponed until 2021.

On the Teremia North discovery, the initial discovery well, Teremia-1000 has experienced mechanical problems resulting in an inflow of formation water. A workover is planned for 2021. An appraisal well, Teremia-1001, was drilled and completed in 1Q 2019 and, following initial testing, was placed on long term experimental production in July 2019. Production rates have stabilised around 150 bopd.

Block EX-8; A second appraisal well, Teremia-1002, was drilled into the extension of the Teremia North discovery in Block EX-8. The well was completed and tested in 4Q 2019 and has subsequently been placed on long term experimental production with rates stabilising around 150 bopd.

Following the drilling of the Pesac Sud-1000 exploration well in 3Q 2019, two separate intervals were tested in 4Q 2019. Both tests failed to indicate the presence of hydrocarbons. Future testing of potentially prospective shallower zones is being considered for 2021.

NIS Petrol is committed to fulfilling the commitment work programs in all blocks, considering certain legislative changes and being granted appropriate extensions due to the current Covid-19 situation.

NIS will be funding 100% of the costs and fully carrying East West through the commitment work programs in each of the blocks in return for earning an 85% interest in each licence.

New Zealand

The Company's news release of February 3rd 2020 reported that the local regulatory issues of Cheal Petroleum, the owner of a 70% interest in the permits and the operator, had been resolved such that the Company could proceed to close the transaction for the sale of its 30% interest. The Company had agreed with an arm's length local New Zealand purchaser to sell, with an effective date of April 1st 2019 its interest in Petroleum Exploration Permit 54877 and Petroleum Mining Permit 60291 for sale proceeds of US$1,900,000 in cash. Net revenue, as defined, since April 1st 2019 is being credited to the purchase price such that as at March 31st 2020 the Company has received approximately US $ .95 million of the sale proceeds. The Company had anticipated that as of this date it would have closed the sale but as result of the COVID-19 pandemic and subsequent shut down of various government offices in New Zealand, which must approve the transfer of the properties, it is uncertain when closing can occur. At this time it is not known when all government approvals to the sale will be in place and therefore a closing date cannot be determined other than pursuant to the agreement with the purchaser closing must occur, subject to possible extensions, by June 24th 2020.

From an operational perspective with the recent collapse in price of oil the economics of continuing operations at Cheal is under review. The operator has reported that they have initiated preliminary plans to investigate the real possibility of closing in production at Cheal.

About East West Petroleum Corp.

East West Petroleum Corp. (www.eastwestpetroleum.ca) is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. The Company has its primary focus on two key areas: New Zealand, where it has established production and cash flow and Romania where it is carried to production on an exploration program. In Romania the Company has exploration rights in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije ("NIS"). The Company does not own the acres but has exploration rights.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements: Certain statements in this press release are "forward-looking statements" which reflect the Company's current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "estimates", "predicts" or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere in the Company's filings on SEDAR. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Nick Demare
[e-mail]
Tel: [phone]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54767



© 2020 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

East West Petroleum Report. Recent Financials (Available On Sedar)

Price: $0.035
Common Shares: 89,585,665

Financials (As of December 31, 2019)

ASSETS
Cash: $4,149,150 - $0.0463 cents per share
Receivables: $276,039
Prepaid Expenses: $14,780
Investments: $692,229 (Made up of AAL & SEW.H Shares)
Assets Held For Sale: $1,786,828 – New Zealand Asset Sale (Still proceeding as per Feb 2020 news)
Total Assets: $6,919,026

LIABILITIES
Accounts Payable: $296,150
Decommissioning Liability: $319,101 – removed once NZ sale completed
Liabilities On Asset Held For Sale: $995,431 – removed once NZ sale completed
Deposit: $65,505
Total Liabilities: $1,676,187

No value on assets in Romania as clearly shown above. Keep in mind that (Property, Equipment & Exploration Assets) were written off mid-2019 and can always be added back once those assets are producing. The true value of East West Petroleum is far higher than what the current stock trades at.

[JonnyRBuck12]

2020-02-03 07:08 MT - News Release


Mr. Nick Demare reports

EAST WEST PROVIDES FURTHER UPDATE ON SALE OF 30% INTEREST IN CHEAL PERMITS

East West Petroleum Corp. has provided this update on the sale of its interest in petroleum exploration permit 54877 and petroleum mining permit 60291, which are subject to joint venture between a wholly owned subsidiary of the company and Cheal Petroleum Ltd., to an arm's-length private New Zealand company, on the terms previously announced in a news release of the company dated June 24, 2019.

At this time there are no contractual issues that are an impediment to closing the transaction, and the company and the purchaser had previously anticipated closing at or about this time.

In a news release dated Nov. 27, 2019, the company announced that because of the change in ownership of Cheal Petroleum as the operator of the joint venture and owner of 70-per-cent interest in the Cheal permits, certain government authorities in New Zealand had issued a notice regarding the financial capacity of the operator that impacted tenure to the Cheal permits. If the concerns are not satisfied, then tenure to the Cheal permits could be revoked. A revocation would impact both the company's 30-per-cent interest and Cheal Petroleum's 70-per-cent interest. The government has communicated no specific issues with the company or the proposed purchaser of the company's 30-per-cent interest in the joint venture. Cheal Petroleum has prepared and submitted a response and fully expects that all issues will be satisfactorily resolved.

Until local regulatory issues are addressed closing of the transaction cannot occur. At this time, it is not known when such concerns will be resolved, or whether they will be resolved, and further it is not known whether the delay could impact the company's agreement with the purchaser in respect of the transaction. As additional information is available, the company will provide further updates.

About East West Petroleum Corp.

East West Petroleum is a TSX Venture Exchange-listed company established in 2010 to invest in international oil and gas opportunities. The company has its primary focus on two key areas: New Zealand, where it has established production and cash flow, and Romania where it is carried to production on an exploration program. In Romania the company has exploration rights in four exploration concessions covering one million acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije (NIS). The company does not own the acres but has exploration rights.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

East West to test Bvs-1000 well in Q1 2020

2019-11-27 06:52 MT - News Release


An anonymous director reports

EAST WEST PETROLEUM ANNOUNCES OPERATIONAL UPDATES

East West Petroleum Corp. has provided an update on operations.

Romania

The company's joint venture partner and operator, Naftna Industrija Srbije (NIS), has provided the following information.

The operator, NIS, is actively progressing with comprehensive exploration programs in the EX2, EX3, EX7 and EX8 exploration blocks. It should be noted that all activities are dependent on securing the necessary government and local approvals.

Block EX-2 -- the 3-D seismic acquisition program of 170 square kilometres was completed in Q3 2019 and processing is under way. The phase 1 exploration period was extended for another two years and now ends in December, 2021.

Block EX-3 -- processing of the 223 square km of 3-D seismic data acquired in 2018 has been finished and interpretation is under way. Results are expected by end 2019. The phase 1 exploration period was also extended for another two years and now ends in December, 2021.

Block EX-7 -- an exploration well, Bvs-1000, was drilled in 1Q2019 to a total depth of 3,800 m and encountered several potential hydrocarbon bearing zones as identified on logs. Testing is now expected to commence in Q1 2020.

A deviated appraisal well on the Teremia North discovery, Ter-1001, was drilled in Q1 2019 and encountered several potential hydrocarbon-bearing zones. A long-term test was conducted from April to July, 2019, which established a stabilized oil flow rate of approximately 150 barrels of oil per day. Extended well testing is continuing.

Block EX-8 -- A second deviated appraisal well on the Teremia North field, Ter-1002, was spudded in September, 2019, and has been drilled to a measured depth of more than 2,600 m. Extended testing is planned.

An exploration well, Pes-1000, was drilled and completed in Q3 2019 to a total depth of around 2,500 m. Several potential hydrocarbon bearing zones were encountered and testing is planned to commence before the end of 2019.

NIS will be financing 100 per cent of the costs and fully carrying East West Petroleum through the commitment work programs in each of the blocks in return for earning an 85-per-cent interest in each licence.

New Zealand

As previously announced the company has an agreement for sale of its 30-per-cent interest in its New Zealand permits and has been working with the purchaser to deal with the closing process. Recently there was a change in ownership of the operator and 70-per-cent owner which has resulted in a letter from government authorities regarding the financial capacity of the operator which impacts tenure to the permits. The operator must address the comments by early February, 2020, and as a result closing of the company's sale cannot occur until this issue is dealt with. As more information is obtained the company will provide an update.

About East West Petroleum Corp.

East West Petroleum is a TSX Venture Exchange listed company established in 2010 to invest in international oil and gas opportunities. The company has its primary focus on two key areas: New Zealand, where it has established production and cash flow, and Romania, where it is carried to production on an exploration program. In Romania the company has exploration rights in four exploration concessions covering one million acres in the prolific Pannonian basin of western Romania with Naftna Industrija Srbije (NIS). The company does not own the acres but has exploration rights.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

EW.V - East West Petroleum Corp (Due Diligence Report)

Symbol: EW.V (Canada) & EWPMF(USA)
Current Price: $0.055CAD & $0.04USD
Shares Outstanding: 89,585,665

Most Recent Financials (Ending September 30th, 2019) In CAD

ASSETS
Cash: $3,719,020
GST Receivable: $7,923
Amounts Receivable: $223,772
Prepaid Expenses: $22,654
Investments: $554,709
Assets Held For Sale: $2,067,867
Total Assets: $6,595,945

LIABILITIES
Accounts Payable: $206,404
Decommissioning Liability: $309,904
Liabilities On Asset Held For Sale: $943,472
Deposit: $65,505
Total Liabilities: $1,525,285

NAV $6,595,945 - $1,525,285 = $5,070,660


Management Discussion Highlights

Company Overview

The Company is a reporting issuer in British Columbia and Alberta and trades on the TSX Venture Exchange
(“TSXV”) under the symbol “EW” as a Tier 1 issuer. The Company currently carries on business in one operating
segment, being the acquisition of, exploration for and production from petroleum and natural gas properties. The
Company’s current portfolio consists of interests in exploration concessions in New Zealand and Romania and
producing properties in the Taranaki Basin, New Zealand. The Company has agreed to sell its interest in PEP 54877
and PMP 60291 which comprise the majority of its New Zealand assets. See “Proposed Disposition of New Zealand
Oil & Gas Assets”. The Company also holds investments in common shares of Advantage Lithium Corp.
(“Advantage Lithium”) and Seaway Energy Services Inc. (Seaway”), public companies whose common shares trade on the
TSXV. The Company’s principal office is located at #1305 - 1090 West Georgia Street, Vancouver, BC, V6E
3V7.

Proposed Disposition of New Zealand Oil & Gas Assets

On June 24, 2019 the Company signed a heads of agreement (the “HOA”) with a private arm’s length New Zealand
company (the “Buyer”) pursuant to which the Company has agreed to sell its interest in PEP 54877 and PMP 60291
(collectively, the “Permits”) which comprise the entirety of the Company’s assets in New Zealand (the “Transaction”).
On October 5, 2019 the Company and the Buyer signed the definitive agreement ( the “Definitive Agreement”) for the
sale and purchase of the Permits under the Transaction.

The Permits are the subject of a joint operating agreement (the “JOA”) between EWNZ, a wholly-owned subsidiary of
the Company, and Cheal Petroleum Limited (“CPL”). The disposition of the Company’s interest in the Permits will be
conditional upon the waiver of CPL of its rights under the JOA to acquire the Company’s interest in the Permits, and
the waiver or satisfaction of any other obligations as may exist to CPL.

Pursuant to the terms of the Definitive Agreement, and in consideration of the Transaction, the Buyer will pay the
Company US $1,900,000 in cash. The effective date for the sale is April 1, 2019 and payments are staged over 16
months of closing with initial payment of US $1,000,000 with normal closing adjustments, due on closing. On
August 7, 2019 the Company received Company shareholder approval. Completion of the Transaction is subject to
approvals to the transfer from New Zealand’s Overseas Investment Act 2005 and New Zealand Petroleum and
Minerals (“NZP&M”) and final TSXV approval.

Romania

During fiscal 2010 the Company was informed by the government of Romania that it had been awarded four
exploration blocks located in the Pannonian Basin, in western Romania. In May 2011 the Company signed petroleum
concession agreements with the National Agency for Minerals and Hydrocarbons (“NAMR”) the government agency
in Romania which regulates the oil and gas industry.

The four concessions have specific mandatory work programs (the “Romania Work Programs”), which were
estimated at US $62,741,000 for all four programs. Production from the concessions is also subject to royalties of
between 3.5% to 13.5% based on quarterly gross production payable to the government.

On May 20, 2011 the Company and Naftna Industrija Srbije j.s.c. Novi Sad (“NIS”), an arm’s length corporation,
signed a memorandum of understanding to jointly explore the four exploration blocks in Romania. On October 27,
2011 the Company and NIS signed a farm-out agreement (the “Farm-out”). Under the terms of the Farm-out, NIS has
paid the Company a total of $525,000 for the assignment of an 85% participation interest and operatorship of the
Romania Work Programs to NIS. NIS is the operator of the four concessions and has the obligation to fund the
Romania Work Programs, including environmental work, 2D and 3D seismic acquisition and processing, and the
drilling of 12 wells. The Company retains a 15% carried interest in each block through the obligatory Phase I work
program and an optional one year Phase II work program which carries additional commitments. The current expiries
of the Phase I terms are as follows: Block EX-2 December 12, 2021, Block EX-3 December 14, 2021 and
November 22, 2020 for Blocks EX-7 and EX-8. If a commercial discovery is made, the Company is responsible for its
15% interest in development of the commercial discovery.

As operator, NIS has proposed and is actively progressing comprehensive exploration programs in the EX-2, EX-3,
EX-7 and EX-8 exploration blocks in Romania. It should be noted that all activities are dependent on securing the
necessary government and local approvals.

On Block Ex-2, acquisition program of 3D seismic in the amount of 170 Km2 was completed in Q3/2019 (calendar)
and processing of the data is underway.

On Block EX-3, processing of the data acquired last year on 223 km2 3D seismic program has been finished.
Interpretation of the data is ongoing and results are expected by the end of December 2019.
On Block EX-7, an exploration well, Bvs-1000, was drilled in 1Q/2019 (calendar) to a total depth of 3,800 meters and
encountered several potential hydrocarbon bearing zones as identified on logs. Testing is now expected to commence
in 1Q/2020(calendar). A deviated appraisal well on the Teremia North discovery, Ter-1001, was drilled in 1Q/2019
(calendar) and encountered several potential hydrocarbon-bearing zones. A long-term test was conducted from April
to July 2019 which established a stabilized oil flow rate of approximately 150 bopd. Extended well testing is ongoing.

On Block EX-8, a second deviated appraisal well on the Teremia North field, Ter-1002, was spudded in September
2019 and has been drilled to a measured depth of more than 2,600 metres. Extended testing is planned. An
exploration well, Pes-1000 was drilled and completed in 3Q/2019 (calendar) to a total depth of around 2,500 metres.
Several potential hydrocarbon bearing zones were encountered and testing is planned to commence before the end of
December 2019.

NIS will be funding 100% of the costs and fully carrying the Company through the commitment work programs in
each of the blocks in return for earning an 85% interest in each licence.

Investments

As at September 30, 2019 the Company held 1,719,000 common shares of Advantage Lithium and 512,400 common
shares of Seaway. The September 30, 2019 fair value of these investments was $554,709. Certain current and former
directors and officers of the Company are also current and former directors and /or officers of Advantage Lithium and
Seaway.

Outstanding Share Data
The Company’s authorized share capital is unlimited common shares with no par value. As at November 27, 2019
there were 89,585,665 outstanding common shares and 3,415,000 share options outstanding with exercise prices
ranging from $0.09 to $0.135 per share.

[chico hombre2]

your services are needed over on P\Q\U\E BIGWILLIE

[willlbone]

Touch the Rock bottom.

[lageorges]

Heres the press release http://www.eastwestpetroleum.ca/newsmedia/press_releases/2018/150/East-West-Petroleum-Announces-Corporate-Restructuring-and-LOI-to-Acquire-Juva-Life-Inc.

[lageorges]

Taking over existing MJ company (JUVA) and expecting drill results from Romania all with no debt and steady income stream. I like the prospects here when it was just oil and currently still trading at $0.10.

[geodan]

They have carried interest now

Summary month ago Seeking Alpha
Operator NIS has declared the first joint venture well a potentially commercial well.

East West gets completely carried at this stage for costs, but still earns 15% of the production on each commercial well drilled.

Between one-fourth and one-third of the current stock price is cash on the balance sheet.

The investment in Advantage Lithium further limits downside risk.

The joint partnership with Tag Oil provides cash flow from at least 100 BOED.

East West Petroleum (OTCPK:EWPMF) finally announced a positive decision on its well drilled in Romania. To the surprise of some of us who thought we knew the main target was gas, this well found a significant amount of oil. By funding the entire cost at this stage, NIS is earning an 85% working interest. But East West gains a 15% interest in every well successfully completed at initially no cost for drilling and

[stocktrademan]

EWPMF bullish 0.1062

[bell345]

http://seekingalpha.com/article/3961805-east-west-petroleum-teaches-scrooge-rake-cash?auth_param=lh1sj:1bfm0af:457fc697ee2c211e5b25938f0c1c4391&uprof=45&dr=1#alt1

Summary

The company has about C$8 million in cash along with a c$10 million market cap and no long-term debt.

Cash flow in the nine-month period was about C$609,000.

The company has permission to purchase and retire up to 10% of its common stock, which should limit downside risk.

Partner NIS is now set to drill the first joint venture well staring in the second quarter in Romania potentially adding a lot of value to the company if successful.

New Zealand prospects, in addition to a cash flow also have speculative projects in the development stage.

It must be nice to be able to sit around all day and collect money. There are companies out there that worked a lot harder and are going bankrupt as a result. But at the end of its third quarter, East West Petroleum Corporation (OTCPK:EWPMF) reported that cash flow from operations was C$609K for the nine-month period. Since its partners have delayed drilling any wells in the current environment, it keeps adding to its cash hoard. There is an occasional well rework or maybe some lease bidding that uses some cash, otherwise the cash pile keeps building. Life can be tough.

However, management is just as tight with its cash as it is managing its assets. Rather than tender for outstanding shares, management applied to purchase the shares on regular transactions. At the close of the stock market on Friday, March 25, 2016, the market cap of the common stock was almost C$10 million. Since the company has almost C$8 million to spend on that market cap, management has permission this time to re-purchase nearly 10% of the company's common stock over the next year. It can re-purchase as much as 2% in any 30 day period, so if the price drops low enough, it will be interesting to see if the company receives permission to purchase more stock. It has the cash flow and the cash balance to do so if it chooses. In any event the company serves as a very large purchaser of its own common stock which will decrease the downside risk to investors for the next 11 months or so. That relatively large amount of cash on the balance sheet will also decrease the downside risk of the common stock.

Plus the company is debt free. It does have some partnership obligations, but it definitely has the cash to meet those obligations at this time. So where is the growth possibilities for a company like this? Clearly, an investor who pays C$.11 per share or US$.08 per share is paying mostly for the cash hoard with just a little left over for the company operations because the cash is roughly four-fifths of the market value of the stock. But subtracting the cash out from the market value and then dividing the remaining market value by the annualized cash flow figure results in a remaining value-to-cash flow of about 2:1. That ratio is exceptionally cheap by any measure, even for cash flow that will decline without new drilling. Few companies at this stage in their development have a ratio anywhere near that, and usually far more debt.

The company is a partner with Tag Oil (OTCQX:TAOIF). Together they share production from an operating lease that usually nets East West Petroleum roughly 200 BOED. Right now, one of the wells is having mechanical difficulties so it is offline, and another well is being evaluated for commercial production. So there is room for growth from the third quarter production, just by fixing one well, and having the other well produce commercially. However, the partnership does not move very quickly at these low commodity prices, but there is some very real room for growth by bring the G1 well onto production (if and when the partners decide to finally do that).

[stocktrademan]

$EWPMF recent news/filings

bullish 0.088

$EWPMF charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$EWPMF company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/EWPMF/company-info
Ticker: $EWPMF

$EWPMF extra dd links

## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=EWPMF+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=EWPMF+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=EWPMF+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/EWPMF/news - http://finance.yahoo.com/q/h?s=EWPMF+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/EWPMF/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/EWPMF/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=EWPMF+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/EWPMF

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/EWPMF
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/sec-filings
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/EWPMF/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/EWPMF/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=EWPMF&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=EWPMF
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/EWPMF/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=EWPMF+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=EWPMF+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=EWPMF
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=EWPMF
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=EWPMF+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/EWPMF/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=EWPMF+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/EWPMF.EWPMF
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=EWPMF
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/EWPMF/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/EWPMF/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/EWPMF
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/EWPMF
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/EWPMF:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=EWPMF
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=EWPMF

[bell345]

http://seekingalpha.com/article/3496196-east-west-petroleum-rolling-dice-low-cost-production

"Financially, the company is a rock, as shown on the first quarter financial statements filed August 31. It had C$8.7 million of working capital at the end of the first quarter (ended June 30). Of that, C$8.1 million was cash and it had no long-term debt outstanding. Therefore, the company can easily meet the budgeted expenditure for the year of C$2.8 million just from its cash balance. It is also in very good shape to weather an extended industry downturn with that cash balance."

[bell345]

http://seekingalpha.com/article/3496196-east-west-petroleum-rolling-dice-low-cost-production

[bell345]

One of cheapest junior oilers I've seen, just need oil to stabilize.