East West Pete Corp (EWPMF)

[DTrump]

Has anyone heard anything around progress/updates?

[DTrump]

Funny how that after stansbury came on this board this droped 40% shortly after.

[Stansberry CS]

If you have any questions about Stansberry and Associates, please do not hesitate to call customer service at 1-888-261-2693. We would be happy to assist you. We are open Monday – Friday 9-5 EST.

[trender2]

Looks like Stansberry Research is covering East West Petroleum.
http://pro.stansberryresearch.com/1204INTFRACK/EDILN401/?a=1&o=749&s=894&u=773622&l=20130&r=MC&g=0

[42Degrees]

This is a solid company with an incredibly bright future, guaranteed increase in share price if Kuwait Energy Company goes public, which was supposed to happen in 2011.


http://www.kec.com.kw/Default.aspx?nid=4519&pageId=139

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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/11/11 -- East West Petroleum Corp. (TSX VENTURE:EW) (the "Company" or "East West") wishes to announce that, subject to regulatory approval, it will make a normal course issuer bid for up to 7,995,189 shares of the Company over a period of one year (the "Bid Period"), being 9.59% of the Company's issued and outstanding common shares, with up to 1,674,673 shares of the Company purchasable over any 30-day period within the Bid Period, being 2% of the Company's issued and outstanding common shares. The Bid Period will commence on October 14, 2011 and will continue until the earlier of October 13, 2012 or the date by which the Company has acquired the maximum 7,995,189 shares which may be purchased under the bid.

Purchases will be made through the facilities of the TSX Venture Exchange (the "Exchange"), and the price at which the Company will purchase its shares will be the market price of the shares at the time of acquisition. The Company has appointed Mackie Research Capital Corporation as its broker to conduct normal course issuer bid transactions.

The Company has 83,733,648 common shares issued and outstanding. Common shares purchased by the Company will be returned to treasury for cancellation.

ABOUT EAST WEST PETROLEUM CORP.

East West Petroleum is a TSX Venture Exchange-listed company which was established in 2010 to invest in emerging international unconventional resource plays, leveraging management's knowledge of international opportunities and unconventional play technical expertise. In its first 18 months of operations, the Company has built an attractive platform of assets: An oil-prone, exploration block in the Assam region of India with the three largest E&P Indian firms ONGC, Oil India and GAIL; four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania and a 500,000 acre exploration block onshore Morocco where conventional and unconventional oil potential has been delineated. The Company has also established oil and gas production in Canada. The Company is now poised to enter operational phases in Romania, where it will be fully carried by its partner Gazprom-controlled Naftna Industrija Srbije in a seismic and 12-well drilling program in 2012. The Company will operate geological field work and a seismic program to firm up drilling locations in Morocco. Operating partner Oil India expects to commence seismic operations in 2012 in India. The Company's cash position of approximately $29.5 million will cover all anticipated seismic and drilling operations through 2012, with funds available to secure other exploration and/or producing properties. The stock trades under the symbol EW, currently just above cash value.

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.

Contacts:
East West Petroleum Corp.
David Sidoo
Chairman
[phone]
[phone] (FAX)

East West Petroleum Corp.
Greg Renwick
President & CEO
[phone]
[phone] (FAX)

East West Petroleum Corp.
Nick DeMare
Director
[phone]
[phone] (FAX)
www.eastwestpetroleum.ca

Published October 11, 2011 – Reads 261
Copyright © 2011 Ulitzer, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

[Pennybuster]

Nice move today..

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http://resourcestockdigest.com/archives/interview_hold/index.php?&content_id=2469

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Company Pro?le

East West Petroleum Corporation (TSX-Venture Exchange symbol: EW) is a junior, Canadian-based exploration and production company which is pursuing commercial development of unconventional and conventional petroleum resources globally. With a strong focus on technology, the Company will apply state-of-the-art exploration, drilling and completion technologies to plays in emerging areas where modern technologies will have a significant impact on identifying, building and producing commercial oil and gas reserves. The Company intends to pursue sustainable and profitable growth through a balanced program of exploration, field development and acquisitions.

East West Petroleum has assembled world-class management and technology-driven teams to identify unconventional opportunities where significant unconventional hydrocarbon potential exists and local and regional markets are in short supply of energy. East West Petroleum holds a 100% interest in four exploration Blocks covering approximately 1,000,000 acres in the Pannonian Basin of western Romania. These large prospective blocks lie within a proven oil and gas region and hold significant conventional and unconventional potential. The Company has entered into a binding Memorandum of Understanding with Naftna Industrija Srbije j.s.c. Novi Sad (“NIS”), a subsidiary of GazpromNeft, covering a partnership arrangement for the acreage. The planned exploration programs will include the acquisition of seismic data and the drilling of a minimum of 12 exploration wells. The Company is now waiting on final government approval to commence the project.

In 2011, the Company has established an upstream presence in India with the award of a 10% interest in an exploratory block in the Assam- Arakan Basin with partners Oil India, ONGC and GAIL. The Company continues to assess additional investment opportunities and position itself for a shale bid round expected in 2012.

East West Petroleum believes strategic alliances and partnerships will form an integral component of its business plan to grow the Company and successfully compete in upstream ventures. The Company is currently evaluating 14 concessions in Russia, Ukraine, Yemen and Europe with Kuwait Energy in order to assess the unconventional potential of the majority of Kuwait Energy’s acreage.

Engineering
AJM Petroleum Consultants
Bank
Bank of Montreal
Legal Advisors
James L. Harris, Thomas Rondeau

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East West Petroleum’s mission is to invest in emerging international exploration and production projects where the application of state-of-the-art unconventional technologies will contribute significantly to the growth of the Company’s asset base and increasing shareholder value.

East West Petroleum Corporate Goals are:

Build a large, high-potential unconventional resource position in Eurasia, North Africa, S. Asia and North America
Supplement unconventional resources with conventional reserves & production
Apply state-of-the-art exploration, drilling and completion technologies where these activities will maximize the commercial value of reserves and resources

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Board of Directors
David Sidoo

David Sidoo
Executive Chairman and Director

Mr. David Sidoo is a successful businessman based in Vancouver where he oversees a successful private investment banking and financial management firm. Upon graduating from the University of British Columbia in 1982 where he held a four-year football scholarship with the UBC Thunderbirds, he was drafted to play professional football with the Canadian Football League. David retired from football in 1988 and was introduced to the brokerage business. From there he became a broker with Yorkton Securities where he quickly became one of the company's top revenue generators. He went on to become Partner and Advisory Board Member at Yorkton Securities, consistently generating commissions that ranked in the Top Five nationally. In 1999, he left Yorkton to pursue private investment banking. He was founding shareholder of American Oil & Gas Inc. (NYSE -AEZ) which was sold to Hess Corporation in Dec 2010 for over US$600 million. In 2008, The Vancouver Sun voted Mr. Sidoo one of the top 100 South Asians making a difference in British Columbia.
Gregory Renwick

Gregory Renwick
Director, President and CEO

Mr. Renwick brings over 30 years of broad, international petroleum experience to the Company. Mr. Renwick began his career with Mobil Oil Canada as a geophysicist. Over the next 25 years, Mr. Renwick held various technical, technical management, and progressively senior management positions within Mobil worldwide. Mr. Renwick has been directly involved in the mapping, the discovery, and development of numerous oil and gas fields in western and eastern Canada, the U.S. Gulf Coast, Saudi Arabia, Indonesia and the Former Soviet Union. Mr. Renwick responsibilities have spanned various disciplines, including geophysics, exploration, field appraisal and development, E&P planning, corporate planning, corporate strategic development, commercial analysis and upstream business development.
Mr. Nick DeMare

Mr. Nick DeMare
CFO and Director

Mr. DeMare is the President and principal of Chase Management Ltd., a private company providing a broad range of administrative, management and financial services to private and public companies involved in mineral exploration and development, gold and silver production, oil and gas exploration and production and venture capital. For over 20 years, Mr. DeMare has assisted numerous companies in making the transition from the private to public stage and arranging and participating in equity and debt financing. Prior thereto, Mr. DeMare was employed as a General Practice Manager with Coopers & Lybrand, Chartered Accountants. Mr. DeMare is currently a director and/or officer of a number of public companies listed on the Toronto Stock Exchange and the TSX Venture Exchange, including American Oil & Gas (AEZ-AMEX, Market cap of $230M) and GeoPetro Resources (GPR-AMEX, Market Cap of $26M).
Herb Dhaliwal

Herb Dhaliwal
Director

Herb Dhaliwal is a graduate in commerce of the University of British Columbia (1977). He was a senior Minister for Western Canada in the federal Cabinet of Prime Minister Jean Chretien. Between 1997 and 2004 he successively held the portfolios of National Revenue, Fisheries & Oceans and Natural Resources in Ottawa. Prior to entering national politics, Herb was - and since retiring from public life continues to be - an entrepreneur, business owner, corporate director and advisor, with interests in transportation, building maintenance, housing construction and real estate development. Before sitting in the Parliament of Canada as M.P. for Vancouver- South/Burnaby constituency from 1993 to 2004, Mr. Dhaliwal had been appointed by the B.C. Government as Vice-Chair of the B.C. Hydro and Power Authority board of directors, where he chaired the budget and audit committees. In 2000 the VANCOUVER SUN called him one of the Top 100 most influential British Columbians in the last century.
Dr. R. Marc Bustin

Dr. R. Marc Bustin
Head of Exploration for Unconventional Hydrocarbons and Director

Dr. R. Marc Bustin (Ph.D., P. Geol., FRSC) is Professor of petroleum and coal geology in the Department of Earth and Ocean Sciences at the University of British Columbia and president of RMB Earth Science Consultants and former president of CBM Solutions Ltd. and a founding share holder of Cuadrilla Resources Ltd. Bustin has over 30 years experience in unconventional gas exploration and exploitation in industry, research and consultancy. Professional experience includes employment by Mobil Oil Canada, Gulf Canada Resources prior to joining The University of British Columbia and subsequently with Elf-Aquitaine (France), CSIRO (France) and CNRS (Australia). Dr. Bustin has consulted in the area of fossil fuel resource evaluation and functioned as director and technical advisor for a variety of small through large petroleum companies in Europe, Africa, North America and Asia. Dr. Bustin has published over 180 reviewed scientific articles on fossil fuels. Dr. Bustin has designed and managed gas shale and coalbed methane evaluation and development projects world wide, including China, Botswana, Europe, Australia, SE Asia, India and basins throughout North America. Dr. Bustin received his PhD in geology in 1980 from the University of British Columbia and is a registered Professional Geoscientist in the province of British Columbia. He is or has been an associate editor of the Canadian Society of Petroleum Geology Bulletin, Sedimentary Geology, International Journal of Coal Geology and the Canadian Journal of Earth Sciences. He is member of the ICCP, AAPG, TSOP and GSA.

Bustin is the recipient of the A. L. Leverson memorial award from the AAPG, received the Thiesson Medal from the International Committee for Coal Petrography for his contributions to coal sciences/organic petrology, the Sproule Award in 2003 for contributions to the study of unconventional gas resources and the Gilbert H. Cady Award (2009) from the Geological Society of America for his contributions to coal science and the Medal of Merit from the Canadian Society of Petroleum Geology (2009). Bustin is an elected Fellow of the Royal Society of Canada. Bustin is a registered professional geologist in the province of British Columbia.
James Dewar

James Dewar
Director

Mr. Dewar brings nearly 30 years of international petroleum finance, accounting and control experience to the Company. Mr. Dewar began his career with Ernst & Young in Scotland where he qualified as a Chartered Accountant. He joined BP PLC in 1982 and spent 27 years with the company, holding a number of Vice President and global/regional business CFO and finance roles for BP in the UK, Dubai, Kuwait, Indonesia, Singapore and the United States of America in multi $ billion businesses. Most recently, Mr. Dewar was Group CFO for Dana Gas PJSC, based in the United Arab Emirates, an upstream and mid stream Gas Company with assets of $3 billion, quoted on the Abu Dhabi stock exchange.

Mr. Dewar brings to the board a proven track record of major business growth and transformation delivery, strong finance raising skills, valuable stock market reporting experience, plus recognised investor relations leadership skills.

The Board of Directors currently consists of six (6) directors, 2 of whom are independent in that they are independent and free from any interest and any business or other relationship which could or could be reasonably be perceived to, materially interfere with the director’s ability to act with the best interests of the Company, other than the interests and relationships arising from shareholdings.

By this definition, Hon. Herb Dhaliwal and James Dewar are independent. David Sidoo and Greg Renwick are not considered “independent” due to the fact that they hold the positions of Executive Chairman and President and CEO of the Company respectively. Similarly, Nick DeMare is not considered “independent” due to the fact that he is the CFO of the Company and the Company pays consulting fees to a management company owned by Mr. DeMare that provides the Company accounting and administrative services . The Company pays consulting fees to a technical service company owned by Dr. Marc Bustin that provides technical analysis for assessment of unconventional plays.

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Advisory Board

Michael D. Burnaman
Advisor

Mr. Burnaman received his BSc. in Geology and a MSC. in Geophysics from the University of Houston. Mr. Burnaman has over 35 years of technical and management experience in the oil and gas industry. The majority of Mr. Burnaman's career was spent with Mobil Oil, where he held a number of senior technical, advisory and managerial positions, including General Manager in Azerbaijan.

Mr. Burnaman's career spans both the conventional and unconventional oil and gas sector. Over the last ten years, he has developed extensive experience in the Barnett shale play of Texas and in other shale plays in Louisiana, Oklahoma, Arkansas, Colorado and N. Dakota. More recently, Mr. Burnaman and his associates have worked closely with the large Chinese onshore operating companies developing and advising on shale plays in China.

Mr. Burnaman has authored and co-authored a number of professional papers on seismic interpretation, seismic processing, stochastic modelling and unconventional shale technology which were published in leading technical journals. He is a member of the SEG and the Houston Geological Society.


Wak Kani
Advisor

Mr. Kani is a geologist with over 34 years in production and exploration positions with significant operations experience. Mr. Kani began his career with Chevron and Oxy in the North Sea. For 11 years he was Chief Geologist for Hardy Oil, now a part of ENI/AGIP. Hardy was a successful British independent oil exploration and production company that moved beyond the North Sea into foreign ventures, including holding a stake in 3 trillion cubic feet of gas discoveries in Pakistan operated by OMV, and undertaking exploration in Libya, Tunisia, Algeria and Morocco.

Since 1995 Wak Kani has consulted to various oil companies including Hess, Statoil and PA Resources. Most recently he was for 4 years Burren Oil’s Chief Geologist in Turkmenistan, followed by Exploration Manager in Egypt and finally Exploration Manager in Yemen.

Wak has a strong background in operations and new venture evaluations with particular knowledge of the oil industry and especially the geology of Tunisia and Morocco as well as the other countries he has worked in

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Gregory Renwick
President and CEO

Mr. Renwick brings over 30 years of broad, international petroleum experience to the Company. Mr. Renwick began his career with Mobil Oil Canada as a geophysicist. Over the next 25 years, Mr. Renwick held various technical, technical management, and progressively senior management positions within Mobil worldwide. Mr. Renwick has been directly involved in the mapping, the discovery, and development of numerous oil and gas fields in western and eastern Canada, the U.S. Gulf Coast, Saudi Arabia, Indonesia and the Former Soviet Union. Mr. Renwick responsibilities have spanned various disciplines, including geophysics, exploration, field appraisal and development, E&P planning, corporate planning, corporate strategic development, commercial analysis and upstream business development.
Mr. Nick DeMare

Mr. Nick DeMare
CFO

Mr. DeMare is the President and principal of Chase Management Ltd., a private company providing a broad range of administrative, management and financial services to private and public companies involved in mineral exploration and development, gold and silver production, oil and gas exploration and production and venture capital. For over 20 years, Mr. DeMare has assisted numerous companies in making the transition from the private to public stage and arranging and participating in equity and debt financing. Prior thereto, Mr. DeMare was employed as a General Practice Manager with Coopers & Lybrand, Chartered Accountants. Mr. DeMare is currently a director and/or officer of a number of public companies listed on the Toronto Stock Exchange and the TSX Venture Exchange, including American Oil & Gas (AEZ-AMEX, Market cap of $230M) and GeoPetro Resources (GPR-AMEX, Market Cap of $26M).
David Sidoo

David Sidoo
Executive Chairman and Director

Mr. David Sidoo is a successful businessman based in Vancouver where he oversees a successful private investment banking and financial management firm. Upon graduating from the University of British Columbia in 1982 where he held a four-year football scholarship with the UBC Thunderbirds, he was drafted to play professional football with the Canadian Football League. David retired from football in 1988 and was introduced to the brokerage business. From there he became a broker with Yorkton Securities where he quickly became one of the company's top revenue generators. He went on to become Partner and Advisory Board Member at Yorkton Securities, consistently generating commissions that ranked in the Top Five nationally. In 1999, he left Yorkton to pursue private investment banking. He was founding shareholder of American Oil & Gas Inc. (NYSE -AEZ) which was sold to Hess Corporation in Dec 2010 for over US$600 million. In 2008, The Vancouver Sun voted Mr. Sidoo one of the top 100 South Asians making a difference in British Columbia.
Dr. R. Marc Bustin

Dr. R. Marc Bustin
Head of Exploration for Unconventional Hydrocarbons and Director

Dr. R. Marc Bustin (Ph.D., P. Geol., FRSC) is Professor of petroleum and coal geology in the Department of Earth and Ocean Sciences at the University of British Columbia and president of RMB Earth Science Consultants and former president of CBM Solutions Ltd. and a founding share holder of Cuadrilla Resources Ltd. Bustin has over 30 years experience in unconventional gas exploration and exploitation in industry, research and consultancy. Professional experience includes employment by Mobil Oil Canada, Gulf Canada Resources prior to joining The University of British Columbia and subsequently with Elf-Aquitaine (France), CSIRO (France) and CNRS (Australia). Dr. Bustin has consulted in the area of fossil fuel resource evaluation and functioned as director and technical advisor for a variety of small through large petroleum companies in Europe, Africa, North America and Asia. Dr. Bustin has published over 180 reviewed scientific articles on fossil fuels. Dr. Bustin has designed and managed gas shale and coalbed methane evaluation and development projects world wide, including China, Botswana, Europe, Australia, SE Asia, India and basins throughout North America. Dr. Bustin received his PhD in geology in 1980 from the University of British Columbia and is a registered Professional Geoscientist in the province of British Columbia. He is or has been an associate editor of the Canadian Society of Petroleum Geology Bulletin, Sedimentary Geology, International Journal of Coal Geology and the Canadian Journal of Earth Sciences. He is member of the ICCP, AAPG, TSOP and GSA.

Bustin is the recipient of the A. L. Leverson memorial award from the AAPG, received the Thiesson Medal from the International Committee for Coal Petrography for his contributions to coal sciences/organic petrology, the Sproule Award in 2003 for contributions to the study of unconventional gas resources and the Gilbert H. Cady Award (2009) from the Geological Society of America for his contributions to coal science and the Medal of Merit from the Canadian Society of Petroleum Geology (2009). Bustin is an elected Fellow of the Royal Society of Canada. Bustin is a registered professional geologist in the province of British Columbia.

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Share Info

Capitalisation

Basic shares issued and outstanding


82,213,648

Stock Options
Warrants at C$0.34
Warrants at C$1.75 Expire Dec / 22 / 12


4,727,530
10,000,000
14,420,595

Fully Diluted shares outstanding


111,361,773

Share price as of close Jan 20, 2012


C$0.57

Fully diluted market capitalisation


C$60,135,357

Cash


C$29,600,000

Enterprise value


C$89,735,357


Engineering
Trimble Engineering Associates Ltd.
Bank
Bank of Montreal
Legal Advisors
James L. Harris, Thomas Rondeau Business Lawyers Vancouver
Auditors
Lancaster & David, Chartered Accountants
Transfer Agent
Computershare Trust Company of Canada

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he Republic of Yemen is situated in the southern sector of the Arabian Peninsula. Initial petroleum exploration in the country took place in 1938 when the Iraq Petroleum Company (at that time a British-owned company) conducted geological and geophysical surveys. It was not until the late 1970s when industry began to unlock the oil and gas potential of the country. Agip signed the first PSC in Yemen and this initial work was followed by other agreements with large international operators. In 1984, Hunt Oil signed a PSC in the Marib-Shabwa region in North Yemen and discovered large accumulations of oil. Canadian Occidental (now Nexen) made significant discoveries of oil in the Masila region in 1991.

The country's oil production has decreased over recent years and currently stands at approximately 280,000 bopd, with the majority of production exported to provide the main source of the country's foreign income. In 2009, the Government of Yemen, with French operator Total, commissioned a world-class LNG export project to sell gas to foreign markets. In 2010, a second train came on-stream, providing the country with current production capacity of 6.7 mmtpa. Also in 2010, Yemen entered into an important MOU with Kuwait Energy to study domestic gas utilization in the country.

Oil production in Yemen is dominated by a relatively small number of international oil companies, with production coming from two main sedimentary basins; Marib/ Shabwah and Say'un/Masila. The proven and prospective petroleum resources of Yemen are confined almost exclusively to these onshore rift basins, which developed between the Late Jurassic and Late Cretaceous periods. The primary source rocks for the oil in the rift basins are the organic shales of the Madbi formation, which were deposited during the main phase of Jurassic rifting.

Yemen's Ministry of Oil and Minerals is responsible for managing industry contracts and relations with operators and partners, as well as the Government's share of crude exports. Yemen's total commercial reserves are estimated at 3.05 billion barrels of oil. Yemen also has gas reserves estimated at 16 Tcf (associated and non-associated), the majority of which are dedicated to the Yemen LNG project. Yemen has a relatively mature oil industry with good, but localized infrastructure.
Key Terms of HOA with Kuwait Energy

Seven PSC blocks totalling over 21,000 square kilometres
Blocks have substantial data sets allowing for rapid assessment of unconventional potential
World-class shale source rocks may provide new unconventional play
Conventional reservoirs to be studied for application of certain unconventional technologies to enhance production and reserves

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Ukraine, a country of about 48 million people strategically located between Russia and Europe, lies in close proximity to the markets of Central and Western Europe and the Middle East. The Ukrainian Republic was the most important economic entity of the Former Soviet Union after Russia, producing about four times the output of the next-ranking republic. The country's vast agricultural potential, its highly educated population, its transportation networks and the technological infrastructure it inherited from the Soviet Union provide Ukraine with excellent pre-conditions for strong economic growth. Since gaining independence in 1991, Ukraine has been transitioning from a highly controlled centralized political system with an institutional framework of central state planning to a more decentralized, democratic form of government with more diverse institutions associated with a market economy.

Ukraine's energy sector is one of the most critical components of the country's economy. The sector has been plagued by a lack of domestic energy sources, increasing foreign debt, outdated and inefficient equipment, lack of funds, fuel shortages, barter deals, and non-payment by consumers. However in recent years Ukraine has made progress by pressing ahead with energy reforms, increasing cash collection rates and the promotion of privatization efforts.

In turn, the oil and gas industry is now beginning to stabilize after years of decline. According to Ukraine's 'National Program for Oil & Gas to 2010', developments are planned in the following key areas: increased geophysical research and exploration drilling, increased development drilling, and stabilization and gradual increase of oil, gas and condensate production. These areas provide significant opportunities for foreign investment, particularly exploration/production, and the supply of advanced technologies, products and services to facilitate increased production (e.g. horizontal drilling, reservoir management, work-over services, completion services).

Ukraine is blessed with a wealth of natural resources, substantial domestic production potential, and one of the largest oil and gas pipeline infrastructures in the world. Due to its strategic location between oil and gas suppliers in Russia, Central Asia and the Caspian Basin and consumers in Europe, Ukraine is also a key transport country.

The Dnieper Donets Basin is the principle hydrocarbon producing basin of the Ukraine. Gas was first discovered in 1950 and although the basin is in the declining stage of production, the exploration potential has not been exhausted. The Ukraine has an estimated 395 million barrels of proven oil reserves, the majority of which are located in the eastern Dnieper-Donetsk basin. Although Ukraine has made efforts at exploration, particularly in its sector of the Sea of Azov, oil production has remained relatively flat since independence. According to the 2008 BP Statistical Energy Survey, Ukraine consumed an average of 324,000 barrels a day of oil in 2007.

Ukraine's geographic location makes it an important corridor for oil and natural gas to transit from Russia and the Caspian Sea region to Europe. During 2006, Ukraine pipelines carried 22 percent of Russia's exports to Ukraine refineries and Europe.

Ukraine had 2007 proved natural gas reserves of about 35 Tcf, with gas production in 2007 of 19 bcm and consumption of 64 bcm. As is the case with oil, Ukraine plays a significant role as an intermediary connecting Russia, the world's largest natural gas producer, with growing European markets. Ukraine's aging natural gas infrastructure is of concern both to European consumers and Russian producers.

The 2010 development program includes two development wells and upgrades to the BC gas plant and the exploration work program includes reprocessing and interpretation of 3D seismic data in the Dubrivska field.

Rudia License Group (4 Blocks: B, C, NY, DB)
The Rudis Licence Group in the Ukraine which is controlled 100% by KEC will be studied for its unconventional hydrocarbon potential. KEC’s assets under study consist of three gas, condensate and oil fields in the Dnieper-Donets basin: Bilousivska – Chornukhynska fields (BC), North Yablunivska field (NY) and the Dubrivska field. The Dubrivska Block has two exploratory wells which have proven presence of oil, condensate and gas.

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Russia is a dominant force in the world's petroleum industry, holding proved oil reserves of 74 billion barrels at the end of 2009 and gas reserves of 1700 Tcf. Russia produced an average of 10 million bopd 2009, about 13% of the world total and only second to Saudi Arabia. Russia's economy is heavily dependent on oil and natural gas exports which generate more than 60% of Russia's export revenues.
Luzskoye Oil Field and the Chikshina Discovery

The Luzskoye oil field and the Chikshina oil discovery, controlled 100% by KEC, are situated in the Pechora Basin of Russia. KEC acquired the Chikshina and Luzskoye field license in April 2007 with the contract expiring in 2014. The block is located in the Komi Republic 52 km. from Pechora. The acreage holds a number of structures with target reservoirs being Asselian to Carboniferous in age. Depths range from 1100 - 1800 m.

The 2010 development program on these KEC-operated blocks includes two development wells in the Luzskoye field, a major upgrade to the Central Production Facility and acquiring 3D seismic data of the Chikshina Block.

KEC's 100%-controlled Russian assets Luzskoye oil Field and Chikshina oil discovery in the Pechora Basin
KEC activities include development wells in the Luzskoye field and a major upgrade to the Central Production Facility (CPF) and the 2010 Chikshina exploration work program includes acquiring 3D seismic data
Exploration blocks cover 25 square kilometres
Studies will assess unconventional reservoirs as well as application of unconventional technologies to enhance conventional reservoir production

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Romania has a long and successful history of petroleum exploration and production. Since o il p roduction was established in 1854, in the order of 475 oil and 450 gas fields have been discovered in numerous sedimentary basins. Romania has estimated proven remaining oil reserves of 1.4 billion barrels, the largest in mainland Eastern Europe. While the country established itself as a major oil exporter, the lack of investment over the last three decades, combined with maturing fields, has resulted in the steady decline of production to approximately 115,000 bopd. As a consequence, Romania now relies on imports to meet half its domestic oil demand. Gas production has also fallen in the country, with annual production at 9.5 bcm (920 mmcf/d). Proven reserves now estimated at 21 TCF.

The Government is taking steps to attract foreign investment for oil and gas exploration and production, both on land and in the Black Sea, by establishing competitive bid rounds and offering industry attractive fiscal terms. In a move to encourage more foreign participation, the Government sold controlling interest the state oil company Petrom to Austrian-based OMV, paving the way for more foreign investment and higher efficiencies in the oil industry.

Romania dominates southeastern Europe's downstream petroleum industry, holding ten of the region's eleven refineries. Because its refining capacity far exceeds domestic demand, Romania exports a wide range of oil products and petrochemicals.

Romania is a country of growing interest for a number of foreign firms due to the attractive fiscal terms being offered, the emergence of unconventional resource plays and the clear opportunity to apply modern exploration and producing technologies to more fully exploit older fields. . Until recently, exploration typically involved drilling shallow structural closures using 2D seismic data. Significant exploration potential remains in untested deep structural closures and stratigraphic traps.

East West Petroleum selected Romania for its eastern European entry because of the country's technical opportunities and attractive commercial terms offered by the Government. Other positive factors include the country's well-established infrastructure, very competitive oil and gas producer prices and the availability of large acreage blocks which offer both conventional and unconventional potential.
Exploration Blocks Awarded

East West Petroleum was awarded four exploration blocks in the Pannonian Basin of Western Romania covering 1,000,000 acres with conventional and unconventional potential in the 2010 Romanian licensing round.


Romania Key Success Factors

The work program consists of 2D, 3D and three wells on each 1,000 km2 block
EWP is positioning itself to reduce exploration financial exposure and risk through partnering and carries.
EWP has entered into a MOU with NIS, the Serbian National Oil Company under which our partner will provide all exploration capital and a full, 15% carry through to commerciality
The acreage holds both conventional and unconventional oil and gas potential

Romania Exploration Potential

The following provides a summary of the exploration potential and scoping economics for these exploration blocks:
Block Exploration Potential Scoping Economics
Tria (2) 11 leads delineated over 1,700 - 5,000 ft. with size up to 40 mmbo (oil prone). Fields nearby. Bright spots evident on shallow seismic data. Unconventional gas potential 38 mmbo discovery delivers NPV (@10%) of $316 mm unrisked (NPV $28 mm risked with IRR of 35%)
Baile Felix (3) Six leads delineated over 2,000 - 5,600 ft. range with size up to 50 mmbo. Oil shows in wells. Unconventional gas potential. 63 Bcf discovery delivers NPV (@10%) of $77 mm unrisked (NVP $20 mm with IRR of 35% risked)
Perian (7) Four leads over 2000 - 12,000 ft. range. Potential for structural & stratigraphic traps. Multi-tcf unconventional gas potential. 14 mmbo discovery delivers NPV (@10%) of $135 mm unrisked (NPV $14 mm with IRR of 35% risked)
Biled (8) Nine leads over 7,000 - 11,000 ft. range with size up to 100 Bcf / 46 mmbo potential. Fields nearby. Multi-tcf unconventional gas potential exists. 34 mmbo discovery delivers NPV (10) of $323 mm unrisked (NPV $93 mm with IRR of 49% risked)

Romania Property Flyer Download (PDF File)

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Over the last two decades, India has initiated a series of economic and industrial reforms which have moved the country towards a market-based economy with an accelerated GDP growth rate. The country’s improved GDP, now averaging 7-8%, has resulted in a large increase in energy demand and today India is the world’s fifth, largest energy user. Demand for oil and gas continues to grow rapidly; however, only a small percentage of this increase is being met through increases in domestic production. Oil accounts for about 30% of India’s total energy consumption, with petroleum reserves total 5.8 bbo (BP Statistical Review of World Energy, 2010). India’s average oil production in 2009 was 754 mbo/d. Year-end 2009 gas reserves totaled 1.1 bcm, with 2009 production of 39.3 bcm. Most domestic production comes from the offshore western coast of India (Mumbai High), but major discoveries in the KG Basin off the eastern coast appear to hold significant reserves and substantial future potential. India's per capita consumption of energy is extremely low as compared to other countries and the demand for energy is expected to increase for the foreseeable future.

A history of India’s oil and gas production is shown in the accompanying graphs.
India - East West Petroleum

India’s petroleum sector is dominated by state-controlled enterprises, including ONGC, OIL and GAIL. ONGC is the largest upstream oil company, accounting for three-quarters of the country’s oil output. The Indian government has introduced policies aimed at increasing domestic oil production, oil and gas exploration activity and foreign participation. As part of this effort, the Ministry initiated the New Exploration Licensing Policy (NELP) in 1998, which permitted foreign companies to competitively bid and hold 100% positions in oil and gas projects. Since NELP 1, a total of 9 NELP rounds have been held­­.

The government has also moved ahead with unconventional coalbed methane (CBM) NELP bid rounds. A total of four CBM rounds have been held to date, with moderate competition and some success achieved (6 Tcf reserves reported to date). India is also expected to hold the first shale bid round in 2012. Several basins have the potential to provide significant increases in oil and gas production from shales the medium to longer term.

India has two LNG terminals, both located in Gujarat, one by Petronet at Dahej and the other a Shell – Total JV at Hazira. A number of other terminals are planned. Current total LNG receiving capacity is approximately 13.6 mmtpa.

Until recently, Gas transmission in India has been dominated by GAIL, but Reliance Industries and others are now expending into this sector. India is planning to expand its gas pipeline network by 40% over the next two to three years. The expansion of the network will increase the number of cities with pipeline gas access and should support new gas exploration in more remote regions.

According to the government, massive energy investment will be required to achieve the country’s targeted economic expansion, with growth in primary energy supply of up to four times current consumption, accompanied by a 6-7 fold increase in electricity generating capacity. Expansion of petroleum, coal, hydro and nuclear sources of energy are required.

India - East West PetroleumASSAM-ARAKAN Basin – Block AA-ONN-2010/2
On March 28th, 2011 East West Petroleum participated in the New Exploration Licensing Policy (NELP IX) competitive bid round in India, successfully winning Block AA ONN 2010/2 with the following partners (participation interests shown)

Oil India Ltd (OIL) - 40% and operator
Oil and Natural Gas Corporation of India (ONGC) - 30%
Gas Authority of India Ltd (GAIL) - 20%
East West Petroleum - 10%

Final Government approval of the concession agreement is expected during the second quarter of 2011.
The Block covers approximately 400 sq. km. and lies within the Karbi Anglong District of the Assam-Arakan basin, a proven petroliferous region which covers more than 116,000 square km in north-eastern India.
Exploration operations will be carried out over a period of five years, with 3D seismic to be acquired initially in the first two years, followed by the drilling of two exploratory wells. Additional extensions are possible beyond the initial 5 year term.


Industry has been active in the region with over 60,000 km of 2D Seismic and more than 7,600 square kilometres of 3D seismic acquired. The acreage lies on trend with a number of oil fields that have been discovered along the Naga and Disang thrust zone In fact, over 1000 wells have been drilled with 118 oil and gas fields found to date. Current production for the area is estimated at 95,000 BOEPD, with original oil in place estimated at 36 billion barrels.


A further 3D seismic program is required to provide better subsurface imaging for high-grading drilling locations. Source rocks and reservoir rocks are generally found in the Paleocene-aged clastic section. Most accumulations have been found in structural traps but stratigraphic traps are possible. East West Petroleum feels that their involvement in this project is a testament to the unconventional expertise that the management team led by Dr. Marc Bustin will bring to this partnership with OIL, ONGC, and GAIL.

India - East West Petroleum

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gypt's has a long, successful history of petroleum exploration and production, with crude oil production contributing significantly to the country's economy for almost 100 years. In recent years however, oil production has declined from a 1996 peak production rate of approximately 935,000 bopd to the current 635,000 bopd, due to ageing fields located primarily in the Gulf of Suez. Egypt's proven oil reserves stand at an estimated 3.7 billion barrels.

Egypt's domestic crude consumption has continued to increase in recent years and now slightly exceeds domestic production levels. Decreases in oil production and petroleum revenues have been offset by industry's successful gas exploration program and the rapid development of the natural gas infrastructure to support both domestic consumption and gas export initiatives. Egypt currently has a pipeline network which exports gas to the Eastern Mediterranean countries and LNG facilities for exports of gas to Europe, Asia and the Americas.

Egypt's oil sector is controlled by the state entity Egyptian General Petroleum Corporation (EGPC) which is responsible for managing upstream activities, including infrastructure, licensing and production. International and foreign national oil companies play a significant role in Egypt's upstream sector on a production sharing contract basis with EGPC. The energy sector is broken up into three holding companies in addition to the EGPC and the Egyptian Mineral Resource Authority (EMRA). These include: the Egyptian Natural Gas Holding Company (EGAS), The Egyptian Petrochemicals Holding Company (ECHEM), and Ganoub El Wadi Petroleum Holding Company (GANOPE).

Both small and large international E&P companies view the Egyptian upstream sector as an attractive place to invest. A combination of competitive technical opportunities, fiscal stability and overall commercial attractiveness, especially for oil, have made Egypt's petroleum sector the most active in North Africa. Success rates in Egypt exceed world averages and discovery sizes remain competitive.
Berg El Arab Field, Egypt

In November, 2010, East West Petroleum purchased a 20% participation interest in the 72 sq. km. BEA field producing license operated by Kuwait Energy Company (55% W.I.). The remaining 25% interest is held by a local Egyptian firm, Gharib. The license is held by production until 2016, with a 5 year extension possible.
Key Terms of Deal

Total acreage of 72 square kilometres
20% Participation Interest in BEA
acquisition effective date of Nov 1, 2010
Total remaining/pending cost recovery pool as at Sept 30, 2010 was c. $30 mm (gross)
AMI with Kuwait Energy surrounding the BEA production license
Current production of c. 100 bopd (net) with substantial growth forecast
more than 20 development wells planned
Application of unconventional technologies thought to be able to increase recoveries
Production currently from the shallower Bahariya formation
cumulative production to date of 1.6 mmb
generally tighter reservoir
potential to apply unconventional techniques to increase production
Apache Corp. has successfully applied unconventional techniques to the Bahariya field in the Western Desert increased production from 2,500 to 20,000 b/d
Multiple prospects for additional reserve upside on the block
existing zones have undrilled fault blocks
Deeper zones in the lower Cretaceous and Tertiary targets have tested hydrocarbons

Comparison of East West Petroleum's Partnership With Other Acquisitions In The Same Region

The Burg el Arab Field acquisition is at a significant discount to recent transactions completed in Egypt and provides East West with immediate cash flow and value uplift.

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Kuwait Energy Partnership

In November, 2010, East West Petroleum and Kuwait Energy Company entered into an exclusive partnership to jointly study 13 KEC exploration and production blocks in the Middle East, North Africa and Eurasia regions. The goal of these studies is to assess the hydrocarbon reserve potential of possible unconventional petroleum systems on the acreage and determine if the application of unconventional technologies can lead to commercial production. In addition, conventional reservoirs will also be studied to determine if the application of these technologies can enhance the production rates and overall value of existing proven reservoirs. The agreement covers a period of three years and provides EWP with the right to negotiate for equity positions up to a 30% participation interest in Kuwait Energy's position in the blocks under study. Total acreage covered under the agreement is more than 4,900,000 acres (20,000 sq.km.).

Key terms of this agreement include:

Joint team to study unconventional potential on more than 20,000 km2 (5,000,000 acres) of Kuwait Energy's acreage in Egypt, Yemen, Ukraine, Russia consisting of 13 E&P blocks
Three year exclusive agreement extendable upon mutual agreement
East West has right to negotiate for equity interests in KEC's positions where joint unconventional studies lead to investment opportunities
Participation interest up to 30% in KEC's interest - will vary depending on project (exploration, production etc.) and other factors
up to 10% for enhanced recovery if there is existing production
up to 30% on existing exploration blocks
Participation interest up to 50% for new acreage acquisitions
Additional KEC assets may be added

Country Block Block
Size
km2 KEC
Share (%) Exploration / Appraisal / Production Operator Partners Unconventional
Potential
(Y/N)
Egypt Burg el Arab 72 55.0 A, P KEC EWP
Gharib Y
Yemen Block 15 9,468 41.6 E, A KEC Kufpec TYC Y
Yemen Block 35 5,533 67.1 A KEC Virgin, Arc MND TYC Y
Yemen Block 43 933 28.3 E, P DNO KEC , TYC Y
Yemen Block 49 2,088 64.0 E KEC CCC, TYC Y
Yemen Block 74 1,200 34.0 E KEC Kufpec, TYC, Arc, Adelphi Y
Yemen Block 82 1,853 21.3 E Medco IOC, OIL Y
Yemen Block 83 364 21.3 E Medco IOC, OIL Y
Ukraine Rudis Group 216 100 E, A, P KEC --- ?
Russia Luzskoye / Chikshina 25 100 E, A, P KEC --- ?


Kuwait Energy Team

Dr. Manssour Aboukhamseen, Chairman and Managing Director
Dr. Manssour Aboukhamseen is a successful business entrepreneur and leader and the founder of several successful business enterprises. He has over 23 years of experience in the oil and gas industry in Kuwait Oil Company (KOC), Zahra Group and Kuwait Energy. He has a Ph.D in Modern History from Berkeley University, California, U.S.A

Mrs. Sara Akbar, Board Member and Chief Executive Officer
Sara Akbar is a well-known figure in the petroleum industry, both in Kuwait and internationally. She has over 28 years experience in the oil and gas industry, having worked in several challenging positions in KOC and in Kuwait Foreign Petroleum Exploration Company (KUFPEC). She has a B.Sc in chemical engineering from Kuwait University.

Mr. Harry Saul, Vice-President Exploration & Divestment
Harry Saul has over 29 years of experience in the oil and gas Industry world-wide. His past experience includes acting as an Advisor, New Business Development for the Kuwait Foreign Petroleum Exploration Company and Manager of International Acquisitions for Coastal Oil and Gas Corporation of Houston, Texas. His expertise includes acquisitions and divesture, reserves evaluation, exploration economics, reservoir and production engineering, oil and gas field studies and he has acted as a lecturer and author in the oil and gas field. Mr. Saul holds a Master of Engineering in Industrial Engineering from Texas A&M University, Texas, and a BS in Physics from Sam Houston State University, Huntsville, Texas.

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Carbon Property

The Carbon property is located approximately fifty miles northeast of Calgary, Alberta, Canada. East West Petroleum's non-operated participation interests in this property range from 4.8 to 20 percent across 4 oil wells and 13 gas wells. The wells are producing from the Horseshoe Canyon, Basal Belly River, Belly River, Viking, Glauconitic, and Ellerslie Formations. EWP's net 2P reserves are 66 mboe and the property is forecast to generate approximately $15,000 - 20,000 per month of cash flow in the near-term, declining slowing over several years. No future drilling is anticipated at this time

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Applied Technology

East West petroleum is focused on projects where the application of emerging unconventional hydrocarbon technologies can identify and unlock new sources of oil and gas from unconventional reservoirs as well as improving the production and ultimate recoveries from conventional fields.

The term “unconventional” reservoir can take on different meanings in the industry. Unconventional reservoirs include gas and oil producing shales, coalbed methane basin centred gas deposits (tight gas sands) and gas hydrates. Gas shales and oil producing shales are not necessarily shales as defined geologically based on lithology, but rather, are any fine grained rock (silt sized grains or smaller) in which the matrix permeability is low and in which economic rates are only obtainable by multi-stage fracturing. Gas and oil producing shales include, but are not limited to, carbonates, dolostones, chert, other siliceous rocks, mudrocks including claystones and true shales and siltstones.

Unconventional petroleum technologies cover a wide range of petroleum and rock analyses, drilling procedures, and completion technologies specifically developed to increase industries knowledge and assessment of unconventional reservoirs and further enhance production and ultimate petroleum recovery from these reservoirs. Technologies include rock sample studies (rock mechanics, rock geochemistry and mineralogy), drilling techniques including horizontal drilling and formation fracturing and various formation stimulation and completion technologies developed specifically for unconventional reservoirs.

East West Petroleum has initiated specific unconventional studies on projects in Egypt, Yemen, Ukraine and Russia where data from prospective unconventional reservoirs will be studied in the laboratory as part of the play evaluation process. These data are being integrated into the existing geological and geophysical data bases to determine prioritize investments and bring unconventional plays to commerciality. The application of unconventional drilling and completion technologies to existing marginally-economic or sub-economic conventional fields is also being carried out to determine if production and ultimate recovery can be enhanced.

The East West competitive advantage is based upon its access to a world class and experienced technology team under the leadership of Dr. Marc Bustin, a world renowned expert on coal, oil and shale gas exploration and exploitation.

For more information, please review Dr. Bustin’s presentation on Gas and Oil Producing Shale and Nonconventional Oil.[img]

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Mission

East West Petroleum’s mission is to invest in emerging international exploration and production projects where the application of state-of-the-art unconventional technologies will contribute significantly to the growth of the Company’s asset base and increasing shareholder value.

East West Petroleum Corporate Goals are:

Build a large, high-potential unconventional resource position in Eurasia, North Africa, S. Asia and North America
Supplement unconventional resources with conventional reserves & production
Apply state-of-the-art exploration, drilling and completion technologies where these activities will maximize the commercial value of reserves and resources

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Company Pro?le

East West Petroleum Corporation (TSX-Venture Exchange symbol: EW) is a junior, Canadian-based exploration and production company which is pursuing commercial development of unconventional and conventional petroleum resources globally. With a strong focus on technology, the Company will apply state-of-the-art exploration, drilling and completion technologies to plays in emerging areas where modern technologies will have a significant impact on identifying, building and producing commercial oil and gas reserves. The Company intends to pursue sustainable and profitable growth through a balanced program of exploration, field development and acquisitions.

East West Petroleum has assembled world-class management and technology-driven teams to identify unconventional opportunities where significant unconventional hydrocarbon potential exists and local and regional markets are in short supply of energy. East West Petroleum holds a 100% interest in four exploration Blocks covering approximately 1,000,000 acres in the Pannonian Basin of western Romania. These large prospective blocks lie within a proven oil and gas region and hold significant conventional and unconventional potential. The Company has entered into a binding Memorandum of Understanding with Naftna Industrija Srbije j.s.c. Novi Sad (“NIS”), a subsidiary of GazpromNeft, covering a partnership arrangement for the acreage. The planned exploration programs will include the acquisition of seismic data and the drilling of a minimum of 12 exploration wells. The Company is now waiting on final government approval to commence the project.

In 2011, the Company has established an upstream presence in India with the award of a 10% interest in an exploratory block in the Assam- Arakan Basin with partners Oil India, ONGC and GAIL. The Company continues to assess additional investment opportunities and position itself for a shale bid round expected in 2012.

East West Petroleum believes strategic alliances and partnerships will form an integral component of its business plan to grow the Company and successfully compete in upstream ventures. The Company is currently evaluating 14 concessions in Russia, Ukraine, Yemen and Europe with Kuwait Energy in order to assess the unconventional potential of the majority of Kuwait Energy’s acreage.

Engineering
AJM Petroleum Consultants
Bank
Bank of Montreal
Legal Advisors
James L. Harris, Thomas Rondeau
Business Lawyers Vancouver
Auditors
Lancaster & David, Chartered Accountants
Transfer Agent
Computershare Trust Co of Canada

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