Deep Well Oil & Gas, Inc.: is in the midst of an extensive drilling program, and expects production test results to be completed within the next week. DWOG, CWPC, SHC, SYN, DOIG, OPC.
Publication:
M2 Presswire
Publication Date: 28-FEB-06 |
Format: Online
Delivery: Immediate Online Access |
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Article Excerpt
M2 PRESSWIRE-28 February 2006-StockProfiler.US: Deep Well Oil & Gas, Inc.: is in the midst of an extensive drilling program, and expects production test results to be completed within the next week. DWOG, CWPC, SHC, SYN, DOIG, OPC(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:28022006
WWW.OILANDGASINVESTOR.NET Calgary-based, Deep Well Oil & Gas Inc. is in the midst of an extensive drilling program, and expects production test results to be completed within the next week. Laboratory analysis determined the core from the vertical well has an average porosity of 32%, hydrocarbon saturation of up to 70% and permeability in the range of 4 darcys - with over 40 feet of oil pay.
DWOG and its subsidiaries 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 prolific Sawn Lake heavy oil area in North Central Alberta. Deep Well will directly hold 40% of the project when Signet Energy earns their interest in the project by drilling 10 wells - at no cost to Deep Well. Additionally, Deep Well owns roughly 29.5% of Signet's common shares.
The average net oil sands producing zone thickness is 14 meters with an oil quality of 9 to 14 degrees API. It is expected that at...
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