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.