GWPC News Alert

Gulf Western Petroleum Announces Third Shamrock Well Test: Miller-Thomas # 1 Flow Tests at 310 MCFD
Monday October 22, 1:00 am ET

HOUSTON, TX, Oct. 22 /PRNewswire-FirstCall/ - Gulf Western Petroleum Corporation ("Gulf Western") (OTCBB: GWPC / Frankfurt: GER), is pleased to announce flow test results of the Miller-Thomas # 1 gas unit. The operator has advised Gulf Western that the Miller-Thomas well stabilized at a flow rate of 310 mcfd with a (FTP) Flowing Tubing Pressure of 1240 psi. The Miller-Thomas well was drilled to a total depth of 3166' and completed from 3128' to 3146'.

The Miller-Thomas #1 is the third well tested in the Shamrock Project. The test results of the first three wells are as follows:

Polinard Lee # 1 - 325 mcfd with FTP 950 psi
Bushmill # 1 - 310 mcfd with FTP 1120 psi
Miller-Thomas # 1 - 310 mcfd with FTP 1240 psi

The Shamrock Project located in Dewitt County, Texas is a five (5) well Frio-age prospect identified through newly acquired 3-D seismic. The Project target formation is the Jameson Sand at 3200 feet. Frio-age wells have proven to be prolific natural gas producers throughout the Texas Gulf Coast region. Typical Frio wells produce at approximately 200 to 300 Mcf per day with estimated total recoverable reserves of approximately 500 million cubic feet to 1 Billion cubic feet. Gulf Western holds a 90% working interest in the Project.

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.

For Further Information, Contact:
RedChip Companies, Inc.
541 S. Orlando Avenue, Suite 206, Orlando, FL 32751, (800) 733-2447,
Fax: (407) 644-0758, info@redchip.com