OPERATIONS

Project Ownership

Sawn Lake Project Ownership and Participants

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 six 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, all of these leases are contiguous. These nine oil sands leases cover 42,383 gross acres (17,152 gross hectares) of land. Of the nine oil sands leases we are the operator on seven leases where we have working interest ranging from 90% to 100%.