Monday, December 10, 2007

Another Well Tested and Hooked Up to the Sales Line by Gulf Western

Gulf Western Petroleum Announces Test Result in Brushy Creek VI
Friday December 7, 2:00 am ET

O'Neal Smith # 1 Flow Tested at 208 Mcfd and Hooked into Sales Line

HOUSTON, Dec. 7 /PRNewswire-FirstCall/ - Gulf Western Petroleum Corporation ("Gulf Western") (OTCBB: GWPC/Frankfurt: GER), is pleased to announce that the O'Neal Smith # 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 # 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 # 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 # 6 and the Goodrich-Poindexter # 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 # 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.

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

No comments: