East West Petroleum Corp EWPMF
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EW.V - East West Petroleum Corp (Due Diligence Report)
Symbol: EW.V (Canada) & EWPMF(USA)
Current Price: $0.03CAD & $0.03USD
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.
Recent news releases:
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.
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.
Symbol: EW.V (Canada) & EWPMF(USA)
Current Price: $0.03CAD & $0.03USD
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.
Recent news releases:
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.
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.
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