East West Petroleum Provides Further Update on Romania

East West Petroleum Corp. (TSX VENTURE:EW)(the "Company" or "East West")
provides a further update on the status of its Romanian concessions and work
programs 


As outlined in the press release dated July 8, 2013, the Company and its
partner, and operator, in Romania, Naftna Industrija Srbije ("NIS") have
recently awarded the seismic acquisition contract for the Tria concession. The
Company is please to report that seismic permitting is now underway.


The Baile Felix, Periam and Biled concessions continue to move through the
approval process. The three agreements are now under review by the last Ministry
involved in the review process. Once the review process is completed the
agreements will be forwarded to the Prime Minister for final government
approval. Seismic acquisition tendering for these concessions is expected to
commence in the next few weeks. 


The Company looks forward to the initiation of the exploratory drilling programs
in Romania. The Phase 1 work program includes seismic surveys and drilling of 3
wells on each of the four blocks. The Company would like to emphasize and ensure
all investors and stakeholders understand that the drilling of the wells will be
completed utilizing conventional drilling and completion technology. NIS and the
Company will be targeting conventional reservoirs using conventional technology
and will not be targeting shale formations. Further, the wells will not be
subject to fracking or other unconventional techniques associated with the
development of shale gas. 


The Pannonian Basin in western Romania, Hungary and Serbia is a proven oil & gas
region with production from numerous conventional discoveries. The region is
characterized by a number of production horizons and both structural and
stratigraphic traps. East West and NIS are confident in the prospectivity of the
licenses and have already identified a number of initial leads based on existing
data. The Company is looking forward to receiving final government approval for
the remaining three licenses and commencing the phase 1 work programs with NIS.


About East West Petroleum Corp.

East West Petroleum (http://www.eastwestpetroleum.ca) is a TSX Venture Exchange
listed company which was established in 2010 to invest in international oil &
gas opportunities. The Company has built an attractive platform of assets
covering and area over 1.6 million acres: Three exploration permits adjacent to
existing production in the Taranaki Basin of New Zealand with partner TAG OIL
(TSX VENTURE:TAO); four exploration concessions covering 1,000,000 acres in the
prolific Pannonian Basin of western Romania with a subsidiary of Russia's
GazpromNeft; a joint venture exploration program covering 8,000 gross acres in
the San Joaquin Basin of California; an oil-prone exploration block of 100,000
acres in the Assam region of India with the three largest exploration and
production Indian firms ONGC, Oil India and GAIL; and a 100% interest in a
500,000 acre exploration block onshore Morocco. 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 now underway and in New Zealand where the Company expects to
commence drilling operations by August 2013, with nine wells to be drilled this
year. The Company has adequate funds to cover all anticipated seismic and
exploratory drilling operations through 2013.


Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the Company's actual results, level of
activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking information. Such factors include,
but are not limited to: the ability to raise sufficient capital to fund
exploration and development; the quantity of and future net revenues from the
Company's reserves; oil and natural gas production levels; commodity prices,
foreign currency exchange rates and interest rates; capital expenditure programs
and other expenditures; supply and demand for oil and natural gas; schedules and
timing of certain projects and the Company's strategy for growth; competitive
conditions; the Company's future operating and financial results; and treatment
under governmental and other regulatory regimes and tax, environmental and other
laws. 


This list is not exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully and readers
should not place undue reliance on such forward-looking information. The Company
disclaims any intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events or otherwise.


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.


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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