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EAST WEST PETE ORD - $EWPMF STOCK NEWS

Welcome to our dedicated page for EAST WEST PETE ORD news (Ticker: $EWPMF), a resource for investors and traders seeking the latest updates and insights on EAST WEST PETE ORD stock.

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East West Petroleum Corp. provides an update on the sale of New Zealand oil and gas properties. The company informs that the purchaser has made all necessary regulatory filings and approvals are expected by May 31st, 2024. The purchaser has also fulfilled a contractual payment obligation, boosting the company's cash balance to approximately Canadian $6.7 million. The company retains the right to terminate the agreement if approvals are not obtained.

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East West Petroleum Corp. Provides Update on Sale of New Zealand Oil and Gas Properties, Potential Cash Distribution to Shareholders
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East West Petroleum Corp. (EWPMF) reports financial results for the nine months ended December 31, 2023, with revenue of $2,056,017 and a net loss of $158,932. The company entered into an interim agreement with Cheal Petroleum Limited for the sale of its 30% interest in PMP 60291. The terms include a purchase price of US $1,000,000, contingent consideration, and a refundable deposit. The sale is subject to various approvals. The company also discusses its Romanian assets and future opportunities in oil, gas, and other resources. As of December 31, 2023, the company had a cash position of $5,691,792. Closing of the New Zealand asset sale is expected to result in total cash proceeds of approximately US$600,000.
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East West Petroleum Corp. (EW) finalizes sale of oil and gas interests in New Zealand, subject to government approvals, with a refundable deposit of US$250,000 paid by the purchaser.
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East West Petroleum Corp. (TSXV: EW) Announces Re-Election of Directors, Ratification of Stock Option Plan, and Approval of Sale of Oil and Gas Properties in New Zealand
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East West Petroleum Corp. has entered into an Interim Agreement for the sale of its oil and gas interests in New Zealand. The purchase price is US $1,000,000 and the effective date of sale is July 31, 2023. The purchaser will assume reclamation obligations of US $633,820 and there is contingent consideration of US $350,000 if an additional well is drilled and completed. A deposit of US $250,000 is required upon signing the definitive agreement. The transaction is subject to negotiation, execution of a definitive agreement, necessary government approvals, regulatory and exchange approval, and approval of East West shareholders.
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EAST WEST PETE ORD

OTC:EWPMF

EWPMF Rankings

EWPMF Stock Data

4.93M
87.67M
2.14%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
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