East West Petroleum Announces Sale of New Zealand Oil & Gas Properties

Rhea-AI Summary

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.

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2024) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") reports that further to the Company's news releases dated November 1^st and December 15^th , 2023 the Company and purchaser have finalized and signed the definitive agreement for the sale of the Company's oil and gas interests in New Zealand.

A refundable deposit of US$250,000 will now be paid by the purchaser. The sale is subject to receipt of all necessary New Zealand government approvals and the process to obtain such approvals is now underway. Further updates will be provided but the approval process will take some time.

On Behalf of the Board

Nick DeMare,
Director & Interim CEO
604-685-9316

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193764

FAQ

What is the latest development for East West Petroleum Corp. (EW)?

East West Petroleum Corp. (EW) has finalized and signed the definitive agreement for the sale of the Company's oil and gas interests in New Zealand, with a refundable deposit of US$250,000 paid by the purchaser.

What are the next steps for the sale of East West Petroleum Corp. (EW)'s oil and gas interests?

The sale is subject to receipt of all necessary New Zealand government approvals, and the approval process is now underway.

Who can be contacted for more information about East West Petroleum Corp. (EW)?

For more information, contact Nick DeMare, Director & Interim CEO, at 604-685-9316.