Gulf Western Petroleum Announces Flow Test Results on Shamrock Project Polinard-Lee Frio Well

    HOUSTON, TX, Oct. 15 /CNW/ - Gulf Western Petroleum Corporation ("Gulf
Western") (OTCBB: GWPC / Frankfurt: GER), is pleased to announce flow test
results of the Polinard-Lee No. 1 gas unit. The operator has advised Gulf
Western that the Polinard-Lee well stabilized at a flow rate of 325 mcfd with
a (FTP) Flowing Tubing Pressure of 950 pounds. The Polinard-Lee well, was
drilled to a total depth of 3185' and completed from 3123' to 3136'.
    The Polinard-Lee No.1 is the first well tested in the Shamrock Project.
The Shamrock Project located in Dewitt County, Texas is a five (5) well
Frio-age prospect identified through 3-D seismic. The Project target formation
is the Jameson Sand at 3200 feet. Frio-age wells have proven to be prolific
natural gas producers throughout the Texas Gulf Coast region. Typical Frio
wells produce at approximately 200 to 300 Mcf per day with estimated total
recoverable reserves of approximately 500 million cubic feet to 1 Billion
cubic feet. Gulf Western holds a 90% working interest in the Project.
    President Sam Nastat stated, "These test results have exceeded our
original expectations for these wells, which is why we expanded this Project
from three wells to five wells. Based on the log results, we expect the test
results of the 2nd and 3rd Shamrock wells to be as strong as the Polinard-Lee
No.1. All three wells will finish testing this week and the gathering system
is completed. We are currently awaiting the Pipeline company to supply the Tap
into the line. Drilling of the additional two wells, the Red Breast and the
Michael Collins is scheduled to begin October 25th."

    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 costs and 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,; North America: RedChip Companies, Inc., Investor
Relations, (800)-REDCHIP,,; Europe: Vicarage
Capital Limited, London, England, (44) (0) 207 060 1303,

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