East West Petroleum Provides Corporate Update
East West Petroleum (TSXV: EW) has announced key corporate updates regarding its restructuring plans and Romanian assets. The company plans to execute a return of capital of approximately C$3 million to shareholders, subject to shareholder approval at the upcoming annual and special shareholders meeting scheduled for September 5th, 2025.
The company also reported challenges with its Romanian project, stating that due to sanctions on the operator, they do not expect any monetization from this asset in the near term or at all. The Romanian project currently has a nil carrying value on the company's balance sheet.
East West Petroleum (TSXV: EW) ha annunciato importanti aggiornamenti aziendali riguardanti i suoi piani di ristrutturazione e gli asset in Romania. L'azienda intende effettuare un rimborso di capitale di circa 3 milioni di dollari canadesi agli azionisti, subordinato all'approvazione durante l'assemblea annuale e straordinaria degli azionisti prevista per il 5 settembre 2025.
La societ脿 ha inoltre segnalato difficolt脿 con il progetto in Romania, affermando che, a causa delle sanzioni sull'operatore, non si aspettano alcuna monetizzazione di questo asset nel breve termine o addirittura in futuro. Attualmente, il progetto rumeno ha un valore contabile pari a zero nel bilancio della societ脿.
East West Petroleum (TSXV: EW) ha anunciado actualizaciones corporativas clave relacionadas con sus planes de reestructuraci贸n y activos en Rumania. La compa帽铆a planea realizar un retorno de capital de aproximadamente 3 millones de d贸lares canadienses a los accionistas, sujeto a la aprobaci贸n en la pr贸xima junta anual y extraordinaria de accionistas programada para el 5 de septiembre de 2025.
La empresa tambi茅n inform贸 sobre desaf铆os con su proyecto rumano, indicando que debido a las sanciones impuestas al operador, no esperan ninguna monetizaci贸n de este activo en el corto plazo ni en absoluto. Actualmente, el proyecto rumano tiene un valor contable nulo en el balance de la compa帽铆a.
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East West Petroleum (TSXV : EW) a annonc茅 des mises 脿 jour importantes concernant ses plans de restructuration et ses actifs en Roumanie. La soci茅t茅 pr茅voit d'effectuer un retour de capital d'environ 3 millions de dollars canadiens aux actionnaires, sous r茅serve de l'approbation des actionnaires lors de l'assembl茅e g茅n茅rale annuelle et extraordinaire pr茅vue le 5 septembre 2025.
La soci茅t茅 a 茅galement signal茅 des difficult茅s avec son projet roumain, indiquant qu'en raison des sanctions impos茅es 脿 l'op茅rateur, elle ne s'attend pas 脿 une quelconque mon茅tisation de cet actif 脿 court terme, voire jamais. Le projet roumain a actuellement une valeur comptable nulle dans les 茅tats financiers de la soci茅t茅.
East West Petroleum (TSXV: EW) hat wichtige Unternehmensaktualisierungen bez眉glich seiner Restrukturierungspl盲ne und rum盲nischen Verm枚genswerte bekanntgegeben. Das Unternehmen plant, eine Kapitalr眉ckzahlung von etwa 3 Millionen kanadischen Dollar an die Aktion盲re durchzuf眉hren, vorbehaltlich der Zustimmung der Aktion盲re auf der bevorstehenden j盲hrlichen und au脽erordentlichen Hauptversammlung am 5. September 2025.
Das Unternehmen berichtete au脽erdem 眉ber Herausforderungen bei seinem rum盲nischen Projekt und erkl盲rte, dass aufgrund von Sanktionen gegen den Betreiber keine Monetarisierung dieses Verm枚genswerts in naher Zukunft oder 眉berhaupt erwartet wird. Das rum盲nische Projekt hat derzeit einen Buchwert von null in der Bilanz des Unternehmens.
- None.
- Romanian asset unlikely to be monetized due to sanctions on operator
- Uncertainty around the timeline and approval of the capital return plan
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2025) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to provide this further corporate update.
In the Company's news release of the Company announced a return of capital of approximately
An annual and special shareholders meeting (the "Meeting") has been set for September 5th 2025, with July 29th 2025 being set as the record date to determine which shareholders are entitled to receive notice of, and vote at, the Meeting. Further news will be issued as the Company advances this restructuring plan.
In addition, the Company has been monitoring events in Romania and its attempts to crystalize a monetizing event. Given the impact of sanctions on the operator the Company does not expect any realization from this asset in the near term or at all. The carrying value of the Romanian project is nil so there will be no impact on the Company's balance sheet. Additional information will be provided as it becomes known.
On Behalf of the Board
"Nick DeMare"
Nick DeMare,
Director & Interim CEO
1305 - 1090 West Georgia Street, Vancouver, BC, Canada, V6E 3V7
Tel: 604.685.9316 | Fax: 604.683.1585
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
FAQ
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