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Dr. Horst Schmid, President and CEO of Deep Well Oil and Gas Talks to The Wall Street Transcript

Posted on: Monday, 16 January 2006, 09:00 CST

The Wall Street Transcript has published an in-depth interview with Dr. Horst Schmid President and CEO of Deep Well Oil and Gas (OTCBB:DWOG) in which he talks at length about the Company.

The entire 2,500 word interview is available free online at http://www.twst.com/ceos.htm.

Deep Well Oil & Gas, Inc. is a Nevada corporation based in Alberta, Canada. Deep Well and its subsidiaries Northern Alberta Oil Ltd. and Deep Well Oil & Gas (Alberta) Ltd. have an 80% working interest, subject to a farmout agreement, in 63 contiguous sections of oil sands leases and 6.5 sections of oil sands permits in the Sawn Lake heavy oil area in North Central Alberta.

Regarding the company's objectives Dr. Schmid stated, "Our long-term objective is to achieve production in the Sawn Lake Project in excess of 100,000 barrels per day of raw heavy oil. We want to get as close as possible to that and also look at the expansion of our company as we have cash flow, to see what other investments we can make within the oil industry."

When asked about why investors should consider the company Dr. Schmid stated, "The first reason would be the requirement of the United States for a secure supply of oil. The second reason is China's quest for oil. In this case, even the Canadian Prime Minister has gone to China and has stated that he supports the supply of oil to China from Canada. The third reason is that we also expect to produce natural gas, a by-product, so to speak, and we all know the ever-increasing price of that commodity. I would say the future is very exciting because it is necessary to increase the production of oil to achieve security of the oil supply not only for the United States, but for Canada as well. That also impacts the commercial well being of all industry, and the private and government sectors of both countries."

The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call 800/246-7673.

Source: Business Wire

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