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East West Petroleum Corp. (EW.V)

TSXV - TSXV Real Time Price. Currency in CAD
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  • S
    StockSearch55
    East West Petroleum's McElroy resigns as director

    2020-08-11 15:10 MT - News Release

    Mr. Nick Demare reports

    EAST WEST PETROLEUM ANNOUNCES RESIGNATION OF ROSS MCELROY

    East West Petroleum Corp.'s Ross McElroy has resigned as a director of the company. The board thanks Mr. McElroy for his contributions to the company as a director and audit committee member and wishes him well in his future endeavours.

    About East West Petroleum Corp.

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

    © 2020 Canjex Publishing Ltd. All rights reserved.
  • S
    StockSearch55
    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.
  • S
    StockSearch55
    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.
  • s
    steve
    Hello All, if you are a frustrated bag holder of EW please consider joining us in an attempt to get management’s attention. The more people and shares we have the more we may be able to persuade EW management to do there job or possibly change management completely. If you are not a member of stockhouse Please go to https://www.stockhouse.com/companies/bullboard?symbol=v.ew
    And read what what others are saying and what we as a group would like to accomplish.
    EAST WEST PETROLEUM CORP
    EAST WEST PETROLEUM CORP
    www.stockhouse.com
  • S
    StockSearch55
    East West to proceed with Cheal interest sale closing

    2020-02-18 08:09 MT - News Release

    Mr. Nick Demare reports

    EAST WEST NOW PROCEEDS TO CLOSE SALE OF 30% INTEREST IN CHEAL PERMITS

    East West Petroleum Corp. has provided this further update regarding the sale of its 30-per-cent interest in petroleum exploration permit 54877 and petroleum mining permit 60291 (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 Company's news release of February 3rd 2020 provided an update on the regulatory concerns that had delayed closing of the Transaction and reported that Cheal Petroleum, the owner of a 70% interest in the permits and the operator, had prepared and submitted a response to local regulatory authorities addressing all concerns raised. The Company has now been advised by the local regulatory authorities that the permits will not be revoked and accordingly the Company and the Purchaser can now move forward to close the Transaction, the process will include approval to the transfer of the permits from local regulatory authorities. The Company does not anticipate significant delays for the Purchaser to obtain all necessary approvals to the Transaction.

    As additional information is available regarding a closing date for the Transaction the Company will provide further updates.

    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.

    We seek Safe Harbor.

    © 2020 Canjex Publishing Ltd. All rights reserved.
  • S
    StockSearch55
    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
  • S
    StockSearch55
    There was a news release regarding the most recent wells in December. Can't post on here today for whatever reason. But you can see it on sedar or looking up east west petroleum on google and most recent news.
  • S
    Stock puppet
    This company has not put out any reports on their progress since December of last year.
    Shareholders are getting very angry at this point. Bankrupt soon?
  • S
    StockSearch55
    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.
  • S
    StockSearch55
    Not sure what all this talk is about going belly up. Company has millions in cash, New Zealand sale will just add more, technically make the trading price lower than the cash value. Then add in a million acres of land in Romania, where the JV partner NIS just drilled a bunch of wells and is in the midst of testing them. Stock price should be much higher, I advise people to go to CEO or Stockhouse for a more lively and up to date conversation.
  • S
    StockSearch55
    EW year end results out. $560k earnings for the year or $0.006 cents per share with $5 million cash or 5.5 cents equivalent. Had a DD ready but Yahoo is being useless as usual. Best to check it on Sedar.
  • S
    Stock puppet
    And there we have it. Another huge withdrawal from their personal bank account. ( your money)
  • S
    StockSearch55
    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.
  • H
    Herbert
    I noticed a new director was hired. Is there anything left to manage in this company.
  • S
    StockSearch55
    New update on EW. I can't post it here because of the length, but you can either go to the company website, sedar or google it.
  • S
    StockSearch55
    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.
  • M
    More Cowbell
    Complaints are being files to the TSX by some other people. Sidoo has been using EWP money to buy more stock in AAL of which he is also CEO. This guy looks like a REALLY bad apple. That's just aside from the fact that he stacked the board of directors with his son who has a degree in ceramics art and no experience in gas and oil drilling. It's about time the Sidoo's were sacked.
  • H
    Herbert
    This company is going belly up. Why they still trade is beyond me.
  • S
    Stock puppet
    Try to get a hold of anybody at East West petroleum on their website, by phone, or sending a letter to get any information and you will hear crickets
  • H
    Herbert
    Houston, I think this on has lost a pulse.