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Deep Well Oil & Gas Inc  (DWOG)
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    Sector  Energy    Industry Oil And Gas Production
   Industry Oil And Gas Production
   Sector  Energy

Deep Well Oil & Gas Inc

Business Description


We are an emerging independent junior oil sands exploration and development company headquartered in Edmonton, Alberta, Canada. Our immediate corporate focus is to develop the existing oil sands land base in the Peace River oil sands area of Alberta. Our principal office is located at Suite 700, 10150 – 100 Street NW, Edmonton, Alberta T5J 0P6, our telephone number is (780) 409-8144 and our fax number is (780) 409-8146. Deep Well Oil & Gas, Inc. is a Nevada corporation and our common stock trades on the OTC Marketplace under the symbol DWOG. We maintain a website at www.deepwelloil.com or www.DWOG.com.

We are engaged in the identification, acquisition, exploration and development of oil sands prospects. Our main objective is to develop our oil sands lease holdings located in the Peace River oil sands area of North Central Alberta, Canada.

Effective December 3, 2012, we entered into and closed upon a purchase and sale agreement with our former joint venture partner, 1132559 Alberta Ltd. (“113”), pursuant to which we acquired 113’s 10% working interest in most of the Sawn Lake oil sands properties where we already had working interests.

On July 30, 2013, we entered into a Steam Assisted Gravity Drainage Demonstration Project Joint Operating Agreement (the “SAGD Project”) to jointly participate in the Alberta Energy Regulator (“AER”) approved SAGD Project on a portion of one section of land where we have a 25% working interest (post Farmout Agreement as defined below). The SAGD Project is located in section 30-91-12W5 of our Peace River oil sands properties located in North Central Alberta, Canada (also known as our Sawn Lake oil sands properties).

On July 31, 2013, we entered into a farmout agreement (the “Farmout Agreement”) with an additional joint venture partner (the “Farmee”) to fund our portion of the costs of the SAGD Project. In accordance with the Farmout Agreement the Farmee has agreed to provide up to $40,000,000 in funding for our portion of the costs for the SAGD Project as set out in the Farmout Agreement in return for a net 25% working interest in 12 sections where we had a working interest of 50% before the execution of the Farmout Agreement. The Farmee is also required to provide funding to cover monthly operating expenses of our Company provided that such funding shall not exceed $30,000 per month. In addition, the Farmee had the option, exercisable up to December 31, 2015, to commit an additional $110,000,000 of financing to the development of our Company’s Sawn Lake oil sands properties, to obtain an additional working interest of 45% to 50% in the remaining 56 sections of land where we have working interests ranging from 90% to 100%. The Farmee did not exercise their option.


We are engaged in the identification, acquisition, exploration and development of oil sands prospects. At this time, our primary interest and immediate focus is the development of our oil sands property in the Peace River oil sands area located in North Central Alberta, Canada, using thermal recovery technologies. Exploration and development for commercially viable production of any oil sands company includes a high degree of risk, which careful evaluation, experience and factual knowledge may not eliminate.




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