SOURCE: WW Oil and Gas Inc.

March 27, 2008 11:12 ET

WW Oil and Gas Inc. Acquires 50% Ownership of Wolf Lease Oil and Gas Properties

GAINESVILLE, TX--(Marketwire - March 27, 2008) - WW Oil and Gas Inc.(PINKSHEETS: WOGI) -- a company in the business of acquiring leases and oil- and gas-related assets for the purposes of development, exploration, and exploitation has made its second payment to Olney Oil and Gas Producers and now retains 50% ownership of the Wolf Lease Properties located in Young County, Texas. The 300-acre property is currently producing 3-4 bbls of oil per day. WW Oil and Gas anticipates the lease to eventually produce up to 20 bbls of oil per day as additional wells on the property are brought to stream. The company expects to acquire 100% ownership of the Wolf Lease Properties within a two month period.

About WW Oil and Gas Inc.

WW Oil & Gas Inc., a holding company established in 2005, was created to acquire oil and gas service companies as well as oil and gas-related assets. Such acquisitions are for the purposes of development, exploration, and exploitation. The company currently has exploitation projects in Texas, Utah, Oklahoma and New Mexico. Comprehensive drill programs are being developed for full exploitation of these projects.

Forward-Looking Statements

A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results WW Energy Inc. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.

Contact Information

  • Contact:
    WW Oil and Gas
    Mr. Joseph Anthony Smith