HOUSTON, TX, Sept. 27 /CNW/ - Gulf Western Petroleum Corporation ("Gulf Western") (OTCBB: GWPC/Frankfurt: GER), is pleased to announce that the Goodrich-Delaplain No. 1 well has been drilled and casing has been set to a depth of 3496'. The well is currently awaiting completion and testing. The Goodrich-Delaplain No. 1 natural gas well is part of the Brushy Creek V Natural Gas Project located in Lavaca County, Texas. The Project is a two well project and the wells were originally generated by utilizing newly acquired 3D seismic data. Both new wells test the amplitude anomalies with strong trough over peak 3D seismic expressions. The Goodrich-Delaplain No. 1 well will be produced from an 18ft sand at 3350 to 3368 ft. This particular sand sequence has proven to be highly commercial, as evidenced by the Goodrich-Langford No. 1 well that is located approximately 2500ft southwest of the Goodrich-Delaplain well location. The Langford No. 1 well has produced in excess of 1.1 BCFG (billion cubic feet of gas) and is currently flowing at a rate of 240 MCFGPD (thousand cubic feet gas per day) with a flowing tubing pressure of 1,260 lbs. The Pope No. 1 well that was the first well drilled in the Brushy Creek V Project is currently undergoing completion and hook up. Sam Nastat, Gulf Western President and Director stated, "We are very pleased with the results of our Texas Gulf Coast Frio drilling program. We have successfully drilled 3 wells in our Shamrock Frio Project in Dewitt County Texas and now have successfully drilled the 6th of 10 Frio wells in our Brushy Creek Project." 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 costsand risks, which may limit our ability to generate cash flow from the wells. In addition, the business of Gulf Western Petroleum Corporation 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 Corporation operates; and technological, mechanical and operational difficulties encountered in connection with Gulf Western Petroleum Corporation's activities.
For further information:
For further information: Company: Gulf Western Petroleum Corporation: Sam Nastat, President & Director, Telephone: (713) 355-7001, www.gulfwesternpetroleum.com; North America: RedChip Companies, Inc., Investor Relations, (800)-REDCHIP, Info@redchip.com, www.redchip.com; Europe: Vicarage Capital Limited, London England, (44) (0) (207) 060-1303, www.vicaragecapital.com
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