Deep Well Oil & Gas, Inc.
PINK SHEETS : DWOG

Deep Well Oil & Gas, Inc.

October 01, 2007 08:02 ET

Deep Well Welcomes Heavy Oil Experienced Geologist Edward A. Howard to Its Team

EDMONTON, ALBERTA--(Marketwire - Oct. 1, 2007) - Deep Well Oil & Gas, Inc. and its subsidiaries ("Deep Well") (PINK SHEETS:DWOG) are pleased to announce that they retained the consulting services of Mr. Edward A. Howard to assist in the further exploitation and development of Deep Well's Sawn Lake project.

Mr. Howard has over 40 years of heavy oil experience. Most recently Mr. Howard was Vice President Exploration and Development for Signet Energy (recently acquired by Andora Energy). Signet Energy was the Farmee which had the right to earn acreage from Deep Well. Signet's rights, under the Farmout to drill to earn more acreage, have since expired. At Signet Mr. Howard was responsible for the planning and execution of their Sawn Lake drilling program. Mr. Howard has also worked with several companies in the heavy oil sector including Sceptre Resources (taken over by CNRL) at their Tangleflags field and Shell Canada at their Peace River Project. Mr. Howard was credited with the discovery and early development of the first successful Steam Assisted Gravity Drainage (SAGD) heavy oil extraction project for Sceptre at the Tangleflags field. While at Shell from 1967 to 1977 Mr. Howard was instrumental in developing Shell's Peace River strategy from the early inception through to the Pilot Plant stage. This project continues to be one of the most successful in situ Oilsands producers. Also Mr Howard has implemented noteworthy Cyclical Stream Simulation (CSS) projects in Alberta. Some of these projects have proven to increase primary and secondary recovery by 50% - 60%. Mr. Howard's extensive experience with the primary and secondary recovery of heavy oil as well as his direct knowledge of the Peace River Oilsands area, specifically the Sawn Lake project will be a great benefit to Deep Well.

Deep Well looks forward to the skills, experience and the knowledge of our Sawn Lake project that Mr. Howard brings with him. Mr. Howard's first task will be to continue the planning and execution of a 2 to 3 well winter drilling program.

Deep Well Oil & Gas, Inc. is a Nevada corporation based in Alberta Canada. Deep Well and its subsidiaries Northern Alberta Oil Ltd. and Deep Well Oil & Gas (Alberta) Ltd. have an 80% working interest, in 63 contiguous sections of oil sands leases and 6.5 sections of oil sands permits in the Sawn Lake heavy oil area in North Central Alberta. The permits and leases cover 43,964 acres. Andora Energy (formerly Signet Energy) has earned a 40% interest in 6 sections. A previously published independent engineering report estimated that, there are 819.5 million original barrels of oil in place.

This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the Company's proposed oil and gas related business. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such a statement. Deep Well Oil & Gas, Inc. (PINK SHEETS:DWOG - News)

Contact Information

  • Deep Well Oil & Gas, Inc.
    Investor Relations
    1-888-OILSAND (1-888-645-7263)
    Website: www.deepwelloil.com