Followers | 813 |
Posts | 71326 |
Boards Moderated | 2 |
Alias Born | 01/30/2003 |
Monday, February 27, 2012 10:16:34 PM
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
+1 604 682 1558
+1 604 682 1568 (FAX)
East West Petroleum Corp.
Greg Renwick
President & CEO
+1 972 955 7251
+1 604 683 1585 (FAX)
East West Petroleum Corp.
Nick DeMare
Director
+1 604 685 9316
+1 604 683 1585 (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.
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM