Deep Well Oil and Gas (fka DWOG)

[ChallengerSRT8]

FORM 8-K: DEEP WELL OIL & GAS FILES CURRENT REPORT

Nov 27, 2014 (Al Bawaba Business via COMTEX) -- SEC-1075520WASHINGTON, Nov. 24 -- Deep Well Oil & Gas Inc., Alberta, Canada, files Form 8-K (current report) with Securities and Exchange Commission on Nov. 21.
State or other jurisdiction of incorporation: Nevada

ITEM 1.01 Entry in to a Material Definitive Agreement.

As previously disclosed, on July 31, 2013, Deep Well Oil & Gas, Inc., through its subsidiary companies (the "Corporation"), entered into a Farmout Agreement (the "Farmout Agreement") with MP West Canada SAS (the "Farmee") to fund the Corporation's share of the joint Steam Assisted Gravity Drainage project (the "SAGD Project") located on the Corporation's Sawn Lake oil sands acreage in Alberta, Canada.

Effective on November 17, 2014, the Corporation and the Farmee agreed to amend the Farmout Agreement (the "Amending Agreement") to extend the expiry date of the Farmee's option, from December 31, 2014 to December 31, 2015, to elect to acquire additional working interests of 45% to 50% in the remaining 56 sections of land where the Corporation has working interests ranging from 90% to 100%, by committing $110,000,000 of financing to the Corporation's Sawn Lake oil sands project.

The foregoing summary is qualified in its entirety, by the terms of the Farmout Agreement which is incorporated herein by reference as Exhibit 10.1 and by the terms of the Amending Agreement filed herewith as Exhibit 10.2.

ITEM 8.01 Other Events

The information set forth under this "Item 8.01 Other Events" of this report is incorporated by reference into this Item 1.01.

ITEM 9.01 Financial Statements and Exhibits.

(a) Financial Statements

Not Applicable.

(d) Exhibits to subject matter reported on this Form 8-K

Exhibit No. - Description

Exhibit 10.1 - Farmout Agreement between Northern Alberta Oil Ltd., Deep Well Oil & Gas (Alberta) Ltd. and MP West Canada SAS dated July 31, 2013 (incorporated by reference as Exhibit 10.1 on Form 8-K/A filed on August 8, 2013.

Exhibit 10.2 - Amending Agreement dated November 17, 2014, filed herewith.

More information can be viewed at: http://www.sec.gov/Archives/edgar/data/869495/000121390014008523/f8k111714_deepwell.htm For any query with respect to this article or any other content requirement, please contact Editor at [e-mail]://www.sec.gov/Archives/edgar/data/869495/000121390014008523/f8k111714_deepwell.htmUS Fed News (HT Syndication)Copyright (C) HT Media Ltd. Provided by SyndiGate Media Inc. (Syndigate.info).




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