International oil and gas producer East West Petroleum Corp. announces that the Company’s joint venture partner and operator, Naftna Industrija Srbije (“NIS”) has provided the following operational update for Romania. It should be noted that all activities are dependent on securing the necessary government and local approvals. 

Blocks EX-2 and EX-3:  

• Permitting continues for acquisition of a total of approximately 400 km² of 3D seismic. Acquisition is expected to commence in Block EX-3 in 2Q 2018. 

Block EX-7: 

• Acquisition of a total program of 95 km of 2D seismic was recently completed. 
• Construction of a drilling pad and access road for the drilling of an exploration well is underway. Anticipated spud is early 3Q 2018. 
• Following the successful testing of the Teremia-1000 exploration well in 2017, which flowed oil and gas from multiple zones, drilling of an appraisal well on the Teremia-1000 structure is anticipated in late 3Q 2018. 

Block EX-8: 

• Permitting continues for an exploration well with anticipated spud in 4Q 2018. 
• Drilling of a second appraisal well on the Teremia-1000 structure, which is interpreted to potentially extend into the EX-8 block, is anticipated in 2019. 

NIS will be funding 100% of the costs and fully carrying East West through the commitment work programs in each of the blocks in return for earning an 85% interest in each licence. 

David Sidoo, President and CEO, comments, 
“We are pleased with the progress that NIS has made with progressing seismic acquisition and preparing for an active drilling program later in the year. Of note is the planned appraisal drilling on the Teremia-1000 discovery which is designed to evaluate the size and commercial potential of the accumulation. We look forward to providing further updates as operations progress.”