HOUSTON, Sept. 27, 2007 (PRIME NEWSWIRE) -- Gulf Western Petroleum Corporation ("Gulf Western") (OTCBB:GWPC) (Frankfurt:GER), is pleased to announce that the Goodrich-Delaplain No. 1 well has been drilled and casing has been set to a depth of 3496'. The well is currently awaiting completion and testing. The Goodrich-Delaplain No. 1 natural gas well is part of the Brushy Creek V Natural Gas Project located in Lavaca County, Texas. The Project is a two well project and the wells were originally generated by utilizing newly acquired 3D seismic data. Both new wells test the amplitude anomalies with strong trough over peak 3D seismic expressions.
The Goodrich-Delaplain No. 1 well will be produced from an 18ft sand at 3350 to 3368 ft. This particular sand sequence has proven to be highly commercial, as evidenced by the Goodrich-Langford No. 1 well that is located approximately 2500ft southwest of the Goodrich-Delaplain well location. The Langford No. 1 well has produced in excess of 1.1 BCFG (billion cubic feet of gas) and is currently flowing at a rate of 240 MCFGPD (thousand cubic feet gas per day) with a flowing tubing pressure of 1,260 lbs. The Pope No. 1 well that was the first well drilled in the Brushy Creek V Project is currently undergoing completion and hook up.
Sam Nastat, Gulf Western President and Director stated, "We are very pleased with the results of our Texas Gulf Coast Frio drilling program. We have successfully drilled 3 wells in our Shamrock Frio Project in Dewitt County Texas and now have successfully drilled the 6th of 10 Frio wells in our Brushy Creek Project."
About Gulf Western Petroleum Corporation
Gulf Western is focused on the exploration and development of domestic petroleum and natural gas reserves in the United States. The Company currently has a strong portfolio of lease acreage projects in Texas, Kansas and Kentucky. It is also actively seeking out additional oil and gas resource opportunities that would benefit from its range of core competencies. Gulf Western was formed through a merger between Wharton Resources Corp., a development stage company with oil & gas lease acreage in Texas, Kentucky and Kansas, and of Georgia Exploration, Inc. Gulf Western's primary asset is a high caliber management team with both upstream and midstream segment experience, as well as a proven track record of finding and developing commercial reserves. Pursuant to the merger, the management team is comprised of W. Milton Cox as Chief Executive Officer, Bassam Nastat as President and Don Sytsma as Chief Financial Officer, Treasurer and Secretary. This team has extensive experience in the U.S. oil and gas industry and the ability to attract a steady stream of high quality oil & gas resource opportunities.
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 costsand 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.