SOURCE: Gulf Western Petroleum Corp.

April 19, 2007 17:57 ET

Gulf Western Petroleum Increases Position in Texas Frio Play to 10 Wells

HOUSTON, TX -- (MARKET WIRE) -- April 19, 2007 -- Gulf Western Petroleum Corporation (OTCBB: GWPC) ("Gulf Western") is pleased to announce that it has increased its position in the Brushy Creek Natural Gas Project in Lavaca County, Texas by taking an average 39.01% working interest in the Brushy Creek VI Prospect. The Brushy Creek VI Prospect is a three well prospect generated by utilizing newly acquired 3D seismic data. The three new wells will test amplitude anomalies with strong trough over peak 3D seismic expressions.

The Goodrich-Poindexter No.1 well will test two high quality amplitude anomalies. The first objective to be encountered will be the Miocene at a depth of approximately 1,550 ft. This amplitude ties directly to offset production in the immediate area as noted by the arbitrary seismic line. The second primary objective to be encountered will be the Frio at an approximate depth of 2,700 ft. This event also correlates closely to producing amplitudes in the area and is also confirmed by the arbitrary seismic line.

The O'Neal Smith No.1 well will test numerous Frio reservoir sands, beginning with a series of stacked amplitudes from 2,400 ft.-2,700 ft. This particular sand sequence has proven to be highly commercial, as evidenced by the Bishop No.2 Jacobs well, approximately 1,500 ft. southeast of the proposed location, which has produced in excess of 1.1 BCFG (billion cubic feet of gas) and is currently flowing at a rate of 275 MCFGPD (thousand cubic feet gas per day) from a similar sequence of seismic events.

The Williams No.6 well will test and evaluate a strong peak over trough seismic event at an approximate depth of 2,800 ft. that compares favorably to production in and around the Williams area. As noted on the arbitrary seismic line, the offsetting Rollins No.1 Jurena well produced .5 BCFG from a series of sands while the Hill No.1 Bailey well produced in excess of 1.6 BCFG from the event at 2,900 ft.

Under the commercial terms of the participation agreement, Gulf Western will pay an average of 44.58% of the total development costs to earn a 39.01% working interest in Brushy Creek VI Prospect. The total projected gross cost of the three well prospect is $2,025,000. Drilling of Brushy Creek VI wells will be a continuation from Brushy Creek IV and V Prospects which are permitted and locations are currently under construction.

Sam Nastat, Gulf Western President and Director, stated, "We are very pleased that we have the opportunity to increase our position in the Brushy Creek Project. Capital investments in high quality low risk projects, such as the Brushy Creek Project, are exactly what Gulf Western needs to achieve our desired growth objectives, and enable us to build a crucial foundation for our long term reserve and revenue growth."

This press release may include forward-looking statements. These statements are based on the Company's current expectations as to future events. However, 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, or significantly any anticipated net cash flow. In addition, the business of Gulf Western 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 operates; and technological, mechanical and operational difficulties encountered in connection with Gulf Western's activities.

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