East West Petroleum (OTC) (TSE:EW) has released an update.
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East West Petroleum has updated stakeholders on the progress of selling its oil and gas properties in New Zealand, noting that the purchaser has made all necessary regulatory filings and is expected to secure approvals by May 31, 2024. The company has received the contractually obligated payment from the purchaser, boosting its cash balance to an anticipated CA$6.7 million post-closure. Further updates will be provided as the transaction progresses.
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