Deep Well Oil and Gas (fka DWOG)

[bhumiartha]

According to their Quarterly Report filed May 15 on the Canadian SEDAR system, Deep Well has cleaned up the overriding royalty. They have an option to buy a 2.5 per cent overriding royalty for $1 million. Going by their earlier filings, this means 5.5% of the overriding royalty is now gone. That's a BIG relief. First the lawsuits, now the royalty, all cleaned up one after the other. Great to see the leadership here.
This is from the SEDAR filing. Couldn't get on to SEC Edgar system, seems to be down for some reason.

http://www.sedar.com/new_docs/all_new_pc_filings_en.htm


On March 18,
2014, as part of the SAGD Project agreement we had the right to repurchase a 3% GORR, from the operator of the SAGD Project at their
cost, that potentially encumbered six oil sands leases covering 23,405 gross acres (9,472 gross hectares) located on our Sawn Lake
properties. We have since repurchased the 3% GORR for Cdn $2,697,600 and have an option to purchase a 2.5% GORR for Cdn
$1,000,000