SOURCE: Gulf Western Petroleum Corp.

March 26, 2007 09:00 ET

Gulf Western Petroleum Corporation Announces Appointment of Directors and Advisor

HOUSTON, TX -- (MARKET WIRE) -- March 26, 2007 -- Gulf Western Petroleum Corp. (OTCBB: GWPC) (the "Company") is pleased to announce that Messrs. Arden McCracken, Ph.D, and Tim Altum have agreed to join the Company's Board of Directors, and that Mr. Paul Moase has agreed to serve as a financial advisor to the Company's Board of Directors.

Mr. McCracken has over thirty years reservoir engineering experience; holds a Ph.D. in Chemical Engineering from the Clemson University; and currently serves as senior reservoir engineering advisor to multiple international oil and natural gas exploration and production companies. Mr. McCracken has held senior and chief reservoir engineer positions with Sohio E&P, BP Exploration, and Pennzoil Exploration.

Mr. Altum holds a Masters in Geology from Baylor University, and has held positions as senior exploitation geologist and senior petroleum geologist with ARCO and PennzEnergy, and he currently serves as geological advisor to PennzEnergy, Devon and BP. As a practice manager for Landmark Graphics, Mr. Altum was responsible for delivered integrated technological solutions to oil and gas companies in Asia and the Pacific Rim.

Mr. Moase is an independent financial advisor to oil and gas and mining companies globally with more than 20 years of investment banking experience. He was Founding Director for Falcon Oil and Gas, and served as the Lead Financier in raising over $200 million for Falcon's Hungarian deep basin project. Mr. Moase was formerly President and CEO of Marleau, and has held senior financial positions as Managing Director, Capital Markets at MGI Securities; Director of Investment Banking at First Associates; and Director of HSBC Securities, Mergers and Acquisition Group. Mr. Moase is a member of the Toronto Stock Exchange Listings Advisory Committee and he holds an MBA from the University of Western Ontario.

Wm Milton Cox, Gulf Western's Chairman, stated, "We are excited to have such highly regarded, distinguished and internationally respected individuals working with the Company. We expect that Messrs. Moase's, Altum's and McCracken's experience, wisdom and guidance will assist us in delivering substantial positive results to the Gulf Western stakeholders."

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