Ticker: EW (TSX-V)
VANCOUVER, May 31, 2011 /PRNewswire/ - East West
Petroleum Corp. (TSXV: EW) (the "Company") - Mr. Greg Renwick, President and CEO, is pleased to
announce the appointment of Mr. David
Sidoo as Executive Chairman of the Board.
Said Mr. Renwick "Since November 2010, Mr. Sidoo has been serving as Non
Executive Chairman of the Board and this appointment to Executive
Chairman reflects the significant and substantial efforts Mr. Sidoo
has made to advance the development of the Company. Mr. Sidoo
is a key member of the management team and we are working closely
to plan and implement the Company's future growth."
Mr. David Sidoo
is a successful businessman based in Vancouver where he oversees a successful
private investment banking and financial management firm.
Upon graduating from the University of British
Columbia in 1982, he was drafted to play professional
football with the Canadian Football League. In 1988, he
joined Yorkton Securities where he quickly became one of
Yorkton's top revenue
generators. In 1999, he left Yorkton to pursue private investment
banking. He was founding shareholder of American Oil &
Gas Inc. which was recently purchased by Hess Corporation for over
$600 million. In 2008, The
Vancouver Sun voted Mr. Sidoo one
of the top 100 South Asians making a difference in the province of
British Columbia.
In addition, the Board has approved the grant of
stock options for the purchase of up to 1,160,000 shares at a price
of $0.83 per share for a term of
three years.
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. Currently East West
has producing assets in Egypt and
Canada, and exploration and
exploitation assets in India, five
million acres in a joint study agreement with Kuwait Energy in
Egypt, Yemen, Russia, Ukraine and one million acres in Romania.
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.
SOURCE East West Petroleum Corp.