Drilling Operations Underway in Romania

International oil and gas producer East West Petroleum Corp. (TSX VENTURE:EW) (“East West” or the “Company”) is pleased to announce that we have been informed by our JV Partner NIS that drilling operations have commenced. Drilling of the first well in EX-7 Periam block, in the Pannonian Basin of Western Romania, commenced on January 21, 2017. The well will be targeting conventional oil and gas-bearing zones and will be drilled to a total depth of approximately 2,500 m, consisting of two primary and three secondary geological targets. Coring will be completed on hydrocarbon bearing zones encountered during drilling, followed by wireline logging. Drilling and testing of the well is forecasted to take 50 – 60 days in the accordance with the highest ecological standards. NIS will be funding 100% and fully carrying East West through the Phase 1 and Phase 2 exploration periods in return for earning an 85% interest in the blocks”.

About East West Petroleum Corp.

East West Petroleum (www.eastwestpetroleum.ca) is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. East West has built a diverse portfolio of attractive exploration assets covering a gross area of over one million acres. The Company has its primary focus on two key areas: New Zealand, where it has established production and cash flow and is evaluating a low risk exploration play, and Romania where it is fully carried on an upcoming high impact 12 well exploration program. In New Zealand, East West holds an interest in three exploration permits near to existing commercial production in the Taranaki Basin, operated by TAG Oil Ltd. The Company also has interests in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije (“NIS”).