OPERATIONS
Overview
Deep Well Oil & Gas, Inc. through its wholly owned subsidiaries, Northern Alberta Oil Ltd. and Deep Well Oil & Gas (Alberta) Ltd., has a 90% working interest in four oil sands leases, a 100% working interest in one oil sands lease, and a 25% working interest in an additional two oil sands leases in the Peace River oil sands area of Alberta. These seven oil sands leases, as of October 08, 2019, cover 19,610 gross acres (7,936 gross hectares) of land. Of the seven oil sands leases we are the operator on five leases where we have working interest ranging from 90% to 100%.
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 one-hundred wells that penetrated and partially delineated the heart of the Bluesky Formation heavy oil reservoir.
