DWOG - Deep Well Oil & Gas, Inc. Message Board

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Gold/Mining/Energy : DWOG - Deep Well Oil & Gas, Inc.

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Mar 20 4:00 PM EDT

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From: Bullish_Today	2/5/2007 11:02:31 AM
	of 17

Looks Like Good News for both DWOG and PRVB Powder River Enters Canadian Oil Sand Market Monday February 5, 7:00 am ET CALGARY, ALBERTA--(MARKET WIRE)--Feb 5, 2007 -- Powder River Basin Gas Corp. (OTC BB:PRVB.OB - News), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced it has signed a letter of intent with Deep Well Oil and Gas Inc. to purchase an interest in their North Central Alberta oil sands project. The project is in the Sawn Lake Oil Sands Development located north of Peace River in Alberta's prolific oil sands. The unit contains approximately 43,964 acres and has an estimated reserve of 819 million barrels of oil. Three development wells have been drilled on the project through the Bluesky formation which shows a pay zone approximately 2000 feet thick. Powder River Basin Gas Corp. will complete its due diligence over the next few weeks, and expects to be part of the development program as it is brought into production. "This is a significant and exciting opportunity for Powder River as we expand into the Canadian oil and gas market. I am thrilled that we are continuing our plan to move the Company into a position for even more international exposure," stated Powder River Basin Gas Corp. CEO Brian Fox. Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas properties. Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB. This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct. Contact: Contacts: Powder River Basin Gas Corp. Steve Weiss Investor Relations (609) 529-3671 Email: info@powderrivergascorp.com Website: powderrivergascorp.com Princeton Research Inc. Mike King Market Analyst (702) 650-3000 -------------------------------------------------------------------------------- Source: Powder River Basin Gas Corp.

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