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

Deep Well Oil & Gas, Inc.

April 11, 2006 09:00 ET

Deep Well Oil & Gas, Inc., Welcomes Sam Charanek as an Advisor to the Company

EDMONTON, ALBERTA--(CCNMatthews - April 11, 2006) - Deep Well Oil & Gas, Inc. and its subsidiaries ("Deep Well") (PINK SHEETS:DWOG) are pleased to announce the addition of Mr. Sam Charanek as an advisor to the company effective April 10, 2006.

Mr. Charanek is a corporate consultant with over 12 years of experience in the capital markets both in Canada and internationally. Mr. Charanek was the co-founder and president of Maxen Energy, where he was instrumental in helping to raise in excess of $12 million for the company and conducting a reverse merger with a Toronto Venture Exchange listed company.

Mr. Charanek has also raised an initial $23 million dollars for Qeva Energy Group , an international oil and gas company focused in the North Sea, preparing to list on a Canadian market as well as being a key participant of the creation of Fuel-x International Inc., a private international oil and gas company. In the past year he has also assisted Fuel-x in raising in excess of $50 million dollars CAD privately pre IPO. Previously Mr. Charanek was Vice President and Co-founder of Tri- Verse Capital Corporation a private investment holdings company.

Mr. Charanek said "I am extremely pleased to have the opportunity to advise Deep Well at such a critical juncture in the company's history. My mandate in this capacity is to maximize shareholder value on a go- forward basis by utilizing my associations in the public markets and corporate finance arenas domestically and internationally with the objective of exposing this tremendous asset.

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, subject to a farmout agreement, 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. After Signet Energy drills 10 wells at no cost to Deep Well, they will fully earn their interest in the project. Deep Well will then directly hold 40% of the project. In addition, Deep Well owns approximately 29.5% of Signet's common shares. 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.

Contact Information

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