UPDATE: East West Petroleum Announces Approved Work Program for Tria Concession; Shares Down 1%
East West Petroleum Corp. (EW.V) have received approval from the Romanian National Agency for Mineral Resources to proceed with the proposed Phase 1 work program for the EX-2 Tria Concession, Romania, which will take place over 2013 and 2014.
The 2013 Phase 1 work program will consist of environmental baseline and environmental impact studies, 2D and 3D seismic acquisition and processing, geological and geophysical studies, plus the drilling of at least one exploration well.
EW was down more than 1% to $0.355, trading near 52-week low 29 cents.
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