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Deep
Well Oil & Gas, Inc. through its wholly owned subsidiaries
Northern Alberta Oil Ltd. and Deep Well Oil & Gas
(Alberta) Ltd. has
an
80%
working
interest in 56 contiguous sections of oil sands
leases and a 40% working interest in an
additional 12 contiguous sections of oil sands leases
in the Peace River oil sands area in
Alberta, Canada.
Our oil sands leases cover 43,015
gross
acres (17,408 gross hectares) of land.
Deep
Well's management believes that the Sawn Lake Heavy Oil
Project is at the same pre-growth stage experienced by
other heavy oil companies prior to a major period of
growth.
Other operators
targeting the deeper Slave Point Formation have
previously drilled much of the land. Because of the
earlier extensive exploration for light oil, Deep Well
is able to benefit from data collected by others
pertaining to the drilling of more than seventy-five
wells that penetrated and partially delineated the heart
of the Bluesky Formation heavy oil reservoir.
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