SOURCE: Gulf Western Petroleum Corp.

March 21, 2007 15:23 ET

Gulf Western Petroleum Announces Kansas Mound Branch Test Results

HOUSTON, TX -- (MARKET WIRE) -- March 21, 2007 -- Gulf Western Petroleum Corp. (OTCBB: GWPC) (the "Company") has been advised by J W Measurement, independent testing company for the Mound Branch Project, the results of the deliverability test conducted on the first coal well tested in the Mound Branch Project. The test results indicate that the DB16-3 well, completed in the Cherokee coal group, will be produced at a volume of 38,000-40,000 cubic feet of natural gas per day.

The test results of the MT19-1 well, the first Mississippi Limestone well tested in the Mound Branch Project, was announced on March 7, 2007. The deliverability test of the MT19-1 well indicated that it will be produced at 350,000-400,000 cubic feet natural gas per day. The Mound Branch Project is an 8,800 acre, 150-well reserve and infrastructure development project in Elk County Kansas which will include the construction of a 15-mile low pressure gathering system to deliver wellhead production into the interstate natural gas pipeline grid in Kansas. There are currently six additional drilled and completed wells in the Mound Branch Project currently undergoing testing.

Gulf Western's President, Sam Nastat, stated, "These test results further confirm our opinion concerning the low risk factor of this project with regard to these blanket coals being the back up for the Mississippi Limestone."

This press release may include forward-looking statements based on the Company's current expectations as to future events. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. For example, the extraction and sale of natural gas from the wells involves a number of costs and risks, which may limit our ability to generate cash flow from the wells. In addition, the business of Gulf Western Petroleum Corp. is subject to a number of risks typical of an oil and gas exploration and development company including, among other things, the inherent uncertainties associated with oil and gas exploration; laws, environmental, judicial, regulatory, political and competitive developments in areas in which Gulf Western Petroleum Corp operates; and technological, mechanical and operational difficulties encountered in connection with Gulf Western Petroleum Corp's activities.

Contact Information

  • For more information, contact:

    Gulf Western Petroleum Corp.
    Sam Nastat
    President & Director
    Tel. (713) 355-7001