GWPC: .40 Announces Test Result in Brushy Creek VI
12/7/2007
HOUSTON, Dec. 7, 2007 (Canada NewsWire via COMTEX News Network) --
O'Neal Smith No. 1 Flow Tested at 208 Mcfd and Hooked into Sales Line
Gulf Western Petroleum Corporation ("Gulf Western") (OTCBB: GWPC/Frankfurt: GER), is pleased to announce that the O'Neal Smith No. 1 four point flow test has been completed and the results are 208 Mcf gas per day with a FTP (Flowing Tubing Pressure) of 950 psi on a 5/64" choke. The O'Neal Smith No. 1 will initially be produced from a 12 foot sand section from 1851'-1863'. The well was perforated from 1854' to 1860' and is now flowing into the sales line.
The O'Neal Smith No. 1 is the third and final well completed and put into production in the Brushy Creek VI Project. The Brushy Creek VI Project, located in Lavaca county Texas, was a three well prospect generated by utilizing newly acquired 3D seismic data. The Williams No. 6 and the Goodrich-Poindexter No. 1, the other two previously announced wells in this project, are also hooked into the sales line.
President, Sam Nastat stated, "We have now successfully completed the Brushy Creek V and Brushy Creek VI Projects, and we are very pleased with the results. We currently have ten Frio wells producing and are scheduled to have one additional well, the Nichol's No. 1, which is in the Brushy Creek IV project, tested and hooked up to the sales line before the end of the year."
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.
SOURCE: Gulf Western Petroleum Corp.
Company: Gulf Western Petroleum Corporation: Sam Nastat, President & Director,
Telephone: (713) 355-7001, www.gulfwesternpetroleum.com; United States: RedChip
Companies, Inc., Investor Relations, (800)-REDCHIP, Info@redchip.com,
www.redchip.com; Canada: Renmark Financial Communications, Jason Roy, Telephone:
(514) 939-3989, jroy@renmarkfinancial.com, www.renmarkfinancial.com; Europe: Vicarage
Capital Limited, London, England, (44) (0) 207 060 1303, www.vicaragecapital.com
Copyright (C) 2007 CNW Group. All rights reserved.
