East West Granted Final Approval to Commence Operation on EX-2 Tria Concession in Romania

East West Petroleum Corp. (TSX VENTURE:EW) (the "Company" or "East West") is
pleased to report it has received final approval from the Government of Romania
to commence operations on its 1000 sq. km. (250,000 acre) EX-2 Tria Concession
in western Romania. The EX-Tria Concession was one of four Romanian concessions
awarded to the Company in a 2010 competitive exploration bid round.


Under the terms of the Tria Concession agreement with Romania's National Agency
for Mineral Resources ("NAMR"), the Company will carry out an extensive,
two-year work program which includes the acquisition of 120 sq. km. of 3D
seismic data and 200 km. of 2D seismic data, plus the drilling of three wells.
The Company has an option to extend the agreement into Phase 2 by committing to
additional work. Earlier this year, the Company completed an Environmental
Impact Study (EIS) and an Environment Baseline Study on the Tria block as a
pre-requisite to commencing operations.


Prior to today's announcement, the Company entered into a farmout agreement with
Russia's GazpromNeft Serbian subsidiary Naftna Industrija Srbije a. d. Novi Sad
("NIS") covering the Company's four awarded exploration Concessions. NIS is a
major oil and gas producer and highly qualified operator in the Pannonian Basin
where EX-2 Tria is located. Under the terms of this agreement, NIS will pay 100%
of the four Concession work programs that includes drilling 12 exploration wells
in the Phase 1, two-year period, at a total estimated cost of EUR 60 million.
East West will retain a 15% participation interest and NIS will hold an 85%
participation interest in each block. East West will be carried on the work
programs through to declaration of commerciality for each discovery. The other
three concessions are expected to be ratified in 2013.


Preliminary technical work on the Tria Concession, combined with the Company's
ongoing regional Pannonian Basin studies, has revealed a number of prospective
petroleum plays on the EX-2 Tria acreage. Nine prospects and leads have been
identified which will now be analyzed in detail, using new 2D and 3D seismic
data plus other technical data to be made available by NAMR. A seismic crew has
been identified and is expected to commence data acquisition in the 1st quarter
of 2013. Drilling is expected to commence before mid-2013.


David Sidoo, Chairman of the Company, noted, "I am very pleased to announce that
the Government of Romania has completed the process of ratification for our Tria
Concession, thereby allowing the Company to proceed with operations. Management
and the Board of Directors very much appreciate the support demonstrated by our
long term shareholders and we are confident once drilling begins in Romania in
2013, shareholders will be rewarded."


Greg Renwick, President & CEO, also commented, "Ratification of the Tria
Concession is an excellent first step in allowing the Company to initialize its
extensive work program plans which are expected to validate the hydrocarbon
potential of this under-explored area of Romania. NIS, with our assistance, has
established and staffed an exploration and operations office in Romania and
initiated tenders for seismic acquisition, drilling crews and logistical
support. A number of prospects and leads have already been identified and will
be prioritized for drilling in 2013."


About East West Petroleum Corp.

East West Petroleum is a TSX Venture Exchange listed company which was
established in 2010 to invest in emerging unconventional resource plays,
leveraging management's knowledge of international opportunities and
unconventional play technical expertise. In its first 18 months of operations,
the Company has built an attractive platform of assets: an oil-prone,
exploration block in the Assam region of India with the three largest
exploration and production Indian firms ONGC, Oil India and GAIL; four
exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin
of western Romania with a subsidiary of Russia's Gazpromneft; a 100% interest in
a 500,000 acre exploration block onshore Morocco with conventional and
unconventional potential and a joint venture exploration program covering 5000
gross acres in California. The Company has also established oil and gas
production in Canada. The Company is now poised to enter operational phases in
Romania, where it will be fully carried by its partner Gazprom-controlled Naftna
Industrija Srbije in a seismic and 12-well drilling program expected to commence
in 2013. The Company will operate geological field work and a seismic program to
firm up drilling locations in Morocco. The Company is well funded to cover all
anticipated seismic and drilling operations through 2013, with funds available
to secure other exploration and/or producing properties.


For more information visit website: www.eastwestpetroleum.ca

FOR FURTHER INFORMATION PLEASE CONTACT: 
East West Petroleum Corp.
David Sidoo
Chairman
+1 604 682 1558
+1 604 682 1568 (FAX)


East West Petroleum Corp.
Greg Renwick
President & CEO
+1 972 955 7251
+1 604 683 1585 (FAX)
www.eastwestpetroleum.ca
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