– CANADA, Alberta – Deep Well Oil & Gas, Inc. (OTCQB:DWOG) is pleased to announce the appointment of Mr. Colin Philip Outtrim to the Board of Directors of Deep Well Oil & Gas, Inc.
Over the course of 40 years, Mr. Outtrim, BASc., P. Eng., ICD.D, petroleum engineer with broad experience in the global oil and gas industry, has been President, CEO and Senior Manager of three engineering companies, as well as the past President and Director of DeGolyer and MacNaughton Canada Limited, a leading independent consulting firm focused on the reservior modeling and evaluation industry. He has extensive experience reporting to audit committees as a “qualified reserves evaluator and auditor”.
Mr. Outtrim has served on the United Nations Expert Committee on reserve and resource definitions, and has recently completed a three year term on the Board of Trustees of the Society of Petroleum Engineers Canadian Educational Trust Fund as Trustee and Treasurer. He is also the past Chairman of the Petroleum Society of CIM.
The Board of Directors of Deep Well Oil & Gas, Inc. welcome Mr. Colin Outtrim to the Board and look forward to working with him in the future.
Deep Well is fully committed to best practices in Environmental Stewardship to assure sustainable development of its in-situ heavy oil holdings.
In September 2014, the SAGD project, in which the company is a 25% participant, commenced production. Since then stable production of bitumen has been demonstrated. Now a production evaluation period of 2-4 months has been launched to assess the production levels and the steam oil ratio.
Deep Well and its Canadian subsidiaries, Northern Alberta Oil Ltd. and Deep Well Oil & Gas (Alberta) Ltd., have a 90 per cent working interest in 51 contiguous square miles of oil sands leases, a 100 per cent working interest in 5 contiguous square miles of oil sands leases and a 25 per cent working interest in 12 contiguous square miles in the Sawn Lake heavy oil area in North Central Alberta. The leases cover 17,408 gross hectares (43,015 gross acres).
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