East West Petroleum Corp.
TSX VENTURE : EW

East West Petroleum Corp.

February 02, 2011 09:00 ET

East West Petroleum Provides an Operational Update on the BEA Field

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2011) - East West Petroleum (TSX VENTURE:EW) has been informed by its partner Kuwait Energy, the operator of the Burg El Arab (BEA) concession, that the operations remain unaffected by the recent events in Egypt. Kuwait Energy, as operator, continues to monitor the situation closely. 

East West Petroleum acquired a 20 percent participation interest from Kuwait Energy in December, 2010. Kuwait Energy retains a 55% participation interest in the field with the remaining interest held by Gharib Oil Fields. 

East West Petroleum will continue to liaise with Kuwait Energy on BEA operations and will provide shareholders with any further updates as appropriate.

ABOUT EAST WEST PETROLEUM CORP.

East West Petroleum Corp. trades on the TSX Venture Exchange under the symbol EW. East West is an emerging exploration and production company focused on conventional and unconventional petroleum resources.

ABOUT KUWAIT ENERGY COMPANY

Established in Kuwait in August 2005, Kuwait Energy Company is an independent oil and gas Exploration and Production company. The Company's regional offices include Cairo, Sana'a, Baghdad, Basra, Ukhta and Kiev, overseeing operations in seven countries namely Egypt, Yemen, Oman, Ukraine, Latvia, Russia and Pakistan. Kuwait Energy is targeting an initial public offering (IPO) in the London and/or Kuwait stock markets in mid 2011, subject to market conditions.

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.

Contact Information

  • East West Petroleum Corp.
    David Sidoo
    Chairman
    +1-604-685-9316
    +1-604-683-1585 (FAX)
    or
    East West Petroleum Corp.
    Greg Renwick
    President and CEO
    +1-972-955-7251
    +1-972-964-6662 (FAX)
    www.eastwestpetroleum.ca