April 23 (SeeNews) - Canada's East West Petroleum Corp said on Tuesday it has been informed by its joint venture partner and operator in Romania, Serbian oil and gas group Naftna Industrija Srbije (NIS), that drilling of the Teremia 1001 well has been completed and operations are now moving to testing phase.
The operator has also advised that additional production testing of the Teremia 1000 well is scheduled for June 2019, East West Petroleum said in a corporate update.
In January, East West Petroleum said that NIS is actively progressing comprehensive exploration programs in the EX2, EX3, EX7 and EX8 exploration blocks in Romania.
In October 2018, acquisition program of 3D seismic in the amount of 223 sq km was successfully completed in EX-3, thus fulfilling the obligations assumed by the concession agreement. The data is still being processed, with potential prospects and leads to be generated in the second quarter of 2019. Permitting is ongoing for a similar project in EX-2 and the works are planned to begin next year. Drilling one exploration in EX-2 is planned for the fourth quarter of 2019, the company said in January.
East West Petroleum Corp. is a TSX Venture Exchange listed company established in 2010 to invest in international oil and gas opportunities with primary focus on two key areas: New Zealand and Romania.
In Romania the company has exploration rights in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin, in the country's western part. The company does not own the acres but has exploration rights.
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