DWOG Deep Well Oil and Gas (CE)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event report): November 17, 2014

 

DEEP WELL OIL & GAS, INC.

(Exact name of registrant as specified in its charter)

 

NEVADA		0-24012		98-0501168
(State or other jurisdiction of		(Commission File Number)		(IRS Employer
incorporation)				Identification No.)

 

Suite 700, 10150 – 100 Street, Alberta, Canada		T5J 0P6
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (780) 409-8144

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR )))240.14d-2(b))
		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

  

 

 

Item 5.02 Departure of Directors or Principal Executive Officer; Election of Directors; Appointment of Principal Officers.

 

On November 17, 2014, the Board of Directors of Deep Well Oil & Gas, Inc. (the “Company”), by written consent, appointed Mr. Colin Outtrim to the Board of Directors of the Company. Mr. Outtrim accepted the appointment on November 17, 2014. Upon Mr. Outtrim's appointment, the Board granted Mr. Outtrim a five year option to purchase up to 600,000 shares of the Company's common stock at an exercise price of $0.23 per common share. The options shall vest 1/3 immediately upon granting, and 1/3 upon the 1st year anniversary date of the grant and the final 1/3 on the 2nd year anniversary date of the grant.

 

Item 9.01 Financial Statements and Exhibits.

 

The Company issued a press release on November 19, 2014, announcing the appointment of Mr. Outtrim to the Board of Directors, which is filed herewith as Exhibit 99.1.

 

 

(a) Financial Statements

 

Not Applicable.

 

(d) Exhibits to subject matter reported on this Form 8-K

 

Exhibit No.		Description
99.1		Press Release dated November 19, 2014

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.

 

	DEEP WELL OIL & GAS, INC.
Date:  November 19, 2014	By:	/s/ Horst A. Schmid
		Dr. Horst A. Schmid
		President and CEO

 

 

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Exhibit No. 99.1

PRESS RELEASE

DEEP WELL Appoints Leading Petroleum Engineer to its Board of Directors

November 19, 2014 – 08:00 ET

EDMONTON, ALBERTA - (Marketwired) Deep Well Oil & Gas, Inc. (and its subsidiaries – "Deep Well" or "Company") (OTCQB Marketplace: 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).

 

This press release contains forward-looking statements. The words or phrases "would be," "to be," "will allow," "intends to," "will likely result," " expected," "will continue," "is anticipated," "potential," "recoverable," "estimate," "forecast," "project," “plans,” or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the Corporation's proposed oil and gas related business and described in this press release. The Corporation's business and the realization of the results contemplated by this press release are subject to various risks, which are discussed in the Corporation's filings with the SEC. The Corporation's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Corporation cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such a statement.

 

Contact:

 

Deep Well Oil & Gas, Inc.

1 780 409 8144

info@deepwelloil.com

www.deepwelloil.com