Thursday November 15, 2:00 am ET
HOUSTON, TX, Nov. 15 /PRNewswire-FirstCall/ - Gulf Western Petroleum Corporation ("Gulf Western") (OTCBB: GWPC/Frankfurt: GER), is pleased to announce that the Goodrich-Delaplain # 1 four point flow test has been completed and the results are 259 Mcf gas per day with a FTP (Flowing Tubing Pressure) of 1410 psi. on a 5/64" choke. The Goodrich-Delaplain # 1 will initially be produced from a 15 foot sand section from 3350'-3365' the well was perforated from 3355' to 3360" and is now flowing into the sales line.
The Goodrich-Delaplain # 1 Gas Unit is part of the Brushy Creek V Natural Gas Project located in Lavaca County, Texas. The Brushy Creek V Project is a two well project generated by utilizing newly acquired 3D seismic data. The Pope # 1, the first well reported in this project, tested at 254 Mcfd was also hooked into the sales line November 14th.
President, Sam Nastat stated, "Brushy Creek V is now successfully completed and we are anticipating results from Phases IV and VI within the next few days. The five well Shamrock Project in Dewitt County is now completed with five out of five successful wells."
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.
500 Winderley Place, Suite 100, Orlando, FL 32751, (800) 733-2447,
Fax: (407) 644-0758, info@redchip.com
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