Deep Well Oil and Gas (fka DWOG)

[bhumiartha]

Reserves have already been assigned by DeGolyer&MacNaughton (D&M) based on the fact that pilot is approved. The Cotningent Resources move up to become reserves once first oil emerges. First production also enables more delineation of the resrvoir, with potential recoverable oil moving up in classification. Since the major "contingency" was financing, it is reasonable to expect that most resources would be reclassified as reserves. Don't know how many shareholders there are; beyond the block owned by the board of directors about a third of the outstanding shares are tradeable.