Mr. Nick DeMare reports

EAST WEST PETROLEUM ANNOUNCES RESULTS OF ANNUAL & SPECIAL MEETING

At East West Petroleum Corp.'s annual and special meeting of shareholders of the company held on Dec. 15, 2023, the shareholders re-elected Nick DeMare, Mark T. Brown and Kevin William Haney as directors of the company. The shareholders also passed all other resolutions including an ordinary resolution to ratify the stock option plan, pursuant to which the company may grant stock options up to 10 per cent of its issued and outstanding common shares at the time of the grant; and a special resolution approving the sale of the company's oil and gas properties in New Zealand, as announced Nov. 1, 2023. The company is continuing to work toward finalizing the definitive agreement with the purchaser and further news will be issued once available.

Following the meeting, the board appointed Mr. DeMare as interim chief executive officer and corporate secretary of the company and Harvey Lim as interim chief financial officer. Mr. DeMare, Mr. Brown and Mr. Haney were appointed to the audit committee.