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Last $0.09 USD
Change Today 0.00 / 0.00%
Volume 3.0K
DWOG On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

deep well oil & gas inc (DWOG) Snapshot

Open
$0.09
Previous Close
$0.09
Day High
$0.09
Day Low
$0.09
52 Week High
09/19/14 - $0.41
52 Week Low
03/18/15 - $0.06
Market Cap
19.5M
Average Volume 10 Days
5.0K
EPS TTM
$-0.0050
Shares Outstanding
229.4M
EX-Date
08/14/13
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for DEEP WELL OIL & GAS INC (DWOG)

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deep well oil & gas inc (DWOG) Details

Deep Well Oil & Gas, Inc., together with its subsidiaries, operates as an independent junior oil and gas exploration and development company in Canada. It is involved in exploring for, developing, producing, and selling crude oil and natural gas. The company has a 90% working interest in 51 contiguous sections on 6 oil sands leases; a 100% working interest in 5 sections on 1 oil sands lease; and a 25% working interest in an additional 12 contiguous sections on 2 oil sands leases in the Peace River oil sands area of North Central Alberta, Canada. Its leases cover approximately 43,015 gross acres. The company was formerly known as Allied Devices Corporation and changed its name to Deep Well Oil & Gas, Inc. in September 2003. Deep Well Oil & Gas, Inc. was founded in 1988 and is headquartered in Edmonton, Canada.

3 Employees
Last Reported Date: 01/13/15
Founded in 1988

deep well oil & gas inc (DWOG) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: --
Chief Financial Officer, Treasurer, Secretary...
Total Annual Compensation: $198.7K
Compensation as of Fiscal Year 2014.

deep well oil & gas inc (DWOG) Key Developments

Deep Well Oil & Gas, Inc. Announces Production Update of Joint Steam Assisted Gravity Drainage Project Located in the Peace River Oil Sands Area of Alberta, Canada

Deep Well Oil & Gas, Inc. announced a production update of joint Steam Assisted Gravity Drainage project located in the Peace River oil sands area of Alberta, Canada. SAGD Project production rate at the end of 11 months exceeded the average rate forecasted for the first year by 76% of the 'Proved Plus Probable' production type curve projection as determined by DeGolyer and MacNaughton Canada Limited as reported in September 30, 2014 reserves report. Production type curves are theoretical forecasts of reservoir performance and are used by qualified reserves evaluators, to predict and forecast, but not limited to, reservoir production rates and cash flows that have not yet been observed in a certain reservoir field. This 'Proved Plus Probable' estimate is just as likely to be high as it could be low, therefore DeGolyer's 'Proved Plus Probable' estimate is 'right in the middle' of expected estimates of type curve projections. DeGolyer estimated that production would average 226 barrels of oil per day with an SOR of 4.12 in the first year of SAGD Project, based on a 100% basis. The first oil production from joint SAGD Project commenced on September 16, 2014 from the first SAGD well pair. Results to date indicate that the use of SAGD technology is successful in producing oil in the form of bitumen from the Bluesky reservoir. Bitumen production on a 100% basis averaged 399 barrels per day in July 2015 with an average SOR of 4.4. Based on the operator's forecasts, the steam chamber is expected to reach the top of the Bluesky reservoir by the end of September 2015 and maximum oil production is now expected to be reached by the end of November of 2015. The operator is now aiming for consistent bitumen production of more than 440 barrels of bitumen per day, based on 100% working interest basis, with an associated SOR of about 3.1. The NACD is the recognized authority focused on advancing exemplary board leadership and establishing leading boardroom practices. Deep Well and its Canadian subsidiaries, Northern Alberta Oil Ltd. and Deep Well Oil & Gas (Alberta) Ltd., have a 90% working interest in 51 contiguous square miles of oil sands leases, an 100% working interest in 5 contiguous square miles of oil sands leases and a 25% working interest in 12 contiguous square miles in the Sawn Lake heavy oil area in North Central Alberta. These leases cover 17,408 gross hectares (43,015 gross acres). Deep Well is fully committed to best practices in Environmental Stewardship to assure sustainable development of its in-situ heavy oil holdings.

Deep Well Oil & Gas, Inc. Presents at SeeThruEquity 4th Annual MicroCap Investor Conference, May-28-2015 10:30 AM

Deep Well Oil & Gas, Inc. Presents at SeeThruEquity 4th Annual MicroCap Investor Conference, May-28-2015 10:30 AM. Venue: Convene Grand Central, 101 Park Ave, New York, NY 10178, United States.

Deep Well Oil &Gas, Inc. Announces Operations Update on its Joint Steam Assisted Gravity Drainage Project

Deep Well Oil &Gas, Inc. announced operations update on its joint Steam Assisted Gravity Drainage project ("SAGD Project") located in Sawn Lake, Alberta. The SAGD well pair was drilled to a vertical depth of approximately 650 meters with a horizontal length of 780 meters each. Steam injection began in May 2014 and circulated for up to four months with production commencing in mid-September 2014. The start of bitumen sales averaged 221 barrels per day, half way through the 3rd thirty day period since the start-up of production. The production has since increased significantly. For the month of March 2015, bitumen sales averaged 319 barrels per day, with a Steam Oil Ratio ("SOR") of 5.4. In the last 16 days of March, the production averaged 350 barrels per day with an SOR of 4.9. A single daily production peak was achieved in March 2015 at 421 barrels per day. All of these production numbers are on a 100% basis with Deep Well owning a 25% working interest through its subsidiaries. Deep Well also beneficially owns 2.24% of Andora Energy Corporation. Over the next several months, bitumen production from the SAGD well pair is expected to increase as the steam chamber continues to develop. The steam chamber is now expected to reach the top of the Bluesky sandstone reservoir in April of 2015. Based on the operator's forecasts, the maximum production rates and a stable SOR are expected around September 2015. Below is a graph of the Average Daily Production Rate, by month, from this first SAGD well.

 

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Price/Sales 41.2x
Price/Book 0.9x
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TEV/Sales 37.0x
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