Ticker: EW (TSX-V)
VANCOUVER, Nov. 21, 2011 /PRNewswire/ - East West Petroleum Corp. (TSXV: EW) (the "Company" or "East West") - Mr. David Sidoo, Chairman of the Board, is pleased to announce that East West Petroleum has entered into a contractual agreement with Halliburton, a leading global energy service company. Halliburton has extensive experience in unconventional plays ranging from assessment through execution. This collaborative effort will target potentially rich shale plays in North America, Europe and a limited number of other selected geographic areas. Some shale deposits in North America have been proven to hold large accumulations of oil and gas and are an emerging source of hydrocarbon reserves in other areas of the world. East West Petroleum's goal is to continue to secure acreage positions in unconventional resource plays and work with Halliburton to assess and develop its assets.
Under the terms of the agreement, East West Petroleum will benefit from Halliburton's global manpower, infrastructure and leading-edge solutions for optimizing value from unconventional reservoirs, while maintaining the highest environmental standards.
"We are very pleased to have concluded this agreement with Halliburton, as one of the major service providers in the petroleum industry, their expertise, combined with our non-conventional focus, will make for an excellent working relationship. We look forward to working together to identify and then develop unconventional resource plays" said Mr. David Sidoo, Chairman of East West Petroleum."Halliburton is very excited about working with East West Petroleum and we look forward to contributing to their success," said Mr. Paul Koeller, Vice-President of Halliburton Consulting and Project Management. ABOUT HALLIBURTON Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 64,000 employees in approximately 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV