2023-02-02 14:21 ET - News Release

An anonymous director reports

EAST WEST PETROLEUM ANNOUNCES CFO CHANGE

East West Petroleum Corp. has accepted the resignation of Nick DeMare as chief financial officer of the company and has appointed Harvey Lim as interim CFO in his stead. Mr. DeMare will remain as interim CEO and corporate secretary of the company.

Mr. Lim holds a bachelor of commerce degree from the University of British Columbia and is a member in good standing of the Institute of Chartered Professional Accountants of British Columbia. Mr. Lim has previously worked for Coopers & Lybrand (PricewaterhouseCoopers LLP) and Ingot Management Ltd. Since 1991, Mr. Lim has held the position of controller for Chase Management Ltd., a private company which provides accounting and management services to companies listed on the TSX Venture Exchange or the Toronto Stock Exchange and its predecessors. Mr. Lim also serves as officer and/or director of other publicly listed companies.

About East West Petroleum Corp.

East West is a TSX Venture Exchange-listed company established in 2010 to invest in international oil and gas opportunities. The company has its primary focus on two key areas: New Zealand, where it has established production and cash flow, and Romania, where it is carried to production on an exploration program. In Romania, the company has exploration rights in four exploration concessions covering one million acres in the prolific Pannonian basin of western Romania with Naftna Industrija Srbije. The company does not own the acres but has exploration rights.