East West Petroleum is an international Canadian based exploration and production company listed on the TSX-Venture Exchange (symbol EW) targeting exploration and development of conventional oil & gas resources. The Company's current portfolio is made up of exploration concessions in New Zealand, Romania, California, Morocco, and India.
East West's global acreage position now totals approximately 1.6 million gross prospective exploration acres in five countries. Several geology and geophysics studies and multiple wells are being planned to test the potential of the Company's acreage. Given the hydrocarbon potential of these assets and the considerable upcoming drilling activity, management believes the Company is on track to establish two to three core producing areas which will provide a solid platform for future growth of reserves and production. The Company's first wells in New Zealand were spudded in Q3 2013, with permanent production established by year end. Final government approval to commence operations has been received on all concessions in Romania, and seismic acquisition is currently ongoing with the first wells targeted for Q1 the second half of 2015.
East West has an experienced management team with diverse backgrounds across all segments of the upstream, including investment banking, public corporate structuring, global business development, resource and reserve assessment, economic analysis, exploration, petroleum and geological research, and a variety of engineering disciplines. Management focuses on establishing a global network of top-notch industry partnerships, alliances, and financial and technical consultants. Important partnerships and joint investment programs have been established with highly-recognized E&P and service firms in the industry. These relationships have been an important contributor to the Company success in establishing an interest in quality acreage positions and the Company is now in a position to leverage partners' local/regional knowledge, expertise and operational capabilities.
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