DWOG Deep Well Oil and Gas (CE)

(Investrend Research Syndicate) In a Research Note dated May 16, 2007, SISM analyst Ernest C. Schlotter, a senior analyst with Investrend affiliate SISM Research and a StarMine four star analyst, has placed an estimated 3P reserve value of $12.55/share on Deep Well Oil & Gas (OTC: DWOG). The following is a summary of the full SISM report which includes important disclosures, disclaimers and analyst qualifications and is available at http://www.sism.com and http://www.investrendresearch.com, or may be directly accessed via this link: http://www.investrend.com/Admin/Topics/Articles/Resources/917_11797527 09.pdf. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field.��Remove the extra space if one exists.) Investors are advised to read disclosures carefully before trading in the equities of any enrolled company. Also according to SISM analyst Schlotter�s Research Note: �Heavy oil is becoming an increasingly important part of the world's oil production, since it's becoming more and more difficult to find so-called conventional oil. Significant acquisitions can be expected in the near future as supermajors are seeking to make up for losses of heavy oil business in Venezuela. This will also pave the way for aggressive oil sands development to spread west from Fort McMurray to Peace River. Deep Well�s Sawn Lake Property in Peace River has similar geological characteristics to BlackRock�s existing Seal Field Project, both targeting heavy oil from the same Bluesky reservoir formation. Shell acquired BlackRock for $2.2B in 2006. �Log analyses from three wells drilled in 2006 show a higher net pay than the average net oil pay of 15 to 20 meters as reported by the Canadian Society of Petroleum Geology for Peace River Bluesky Oil Sands. This indicates that Deep Wells Sawn Lake Project holds more oil-in-place than earlier estimated, nearly 1.6 billion 3P reserves.� Ernest Schlotter also said: �Just recently, several acquisitions in the Alberta oil sands were priced at approx. US$1.00 per recoverable barrel across the Proven, Probable, and Possible categories. These parameters would value Deep Well�s Sawn Lake with $910 million, or $12.55/fully diluted DWOG share.� SISM Research, based in Zurich, Switzerland, is a private investment research firm offering high-quality, independent, fundamental research on public companies since 1995. SISM Research writes, publishes and distributes research coverage on micro- to small-cap public companies trading. Both SISM Research and Investrend Research subscribe to the exacting �Standards for Independent Research Providers� at http://www.firstresearchconsortium.com, as well as the CFA-NIRI Guidelines at http://www.cfainstitute.org. SISM�s Research platform is also executed in accordance with Guidance set forth by U.S. Securities and Exchange Commission�s Advisory Committee on Smaller Public Companies at http://www.sec.gov/info/smallbus/acspc/acspc-finalreport_d.pdf. Morgarten Financial Services, a European based IR company has retained and pays SISM Research $1,750 per month over a two-year period to ensure independent coverage. Complete information about Deep Well Oil & Gas is available at the company�s InvestorPower page accessible from http://www.investrend.com/company/list.asp?sPathParam=yes, and the full report is available at http://www.sism.com and http://www.investrendresearch.com. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company. Anyone interested in receiving alerts regarding Deep Well Oil & Gas research should email contact@investrend.com or info@sism.com with �DWOG� in the subject line, or click on http://www.investrend.com/contact.asp. Forward-Looking Statements: Statements in this announcement that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results.