DWOG Deep Well Oil and Gas (CE)

(Investrend Research Syndicate) Ernest C. Schlotter, a senior analyst with Investrend affiliate SISM Research and a four star analyst according StarMine, has reiterated his Buy/4 rating for Deep Well (Pink Sheets: DWOG) and has raised the target price from $3.55 to $5.75. According to SISM's Research Note: Deep Wells operating partner in the Sawn Lake Signet Energy successfully drilled its first horizontal test well in the Bluesky Formation. The reservoir, in the early Cretaceous has a pay zones from 10 meters to more than 35 meters thick with a porosity of 30% and a hydrocarbon saturation of up to 70%. The average net oil sands producing zone thickness is 14 meters with an oil quality of 9 degrees to 14 degrees API. Signet is confident that they can achieve a recovery rate between the projected 10 to 35 percent range, using primary and tertiary recovery methods. "The increased target price reflects this positive laboratory analysis and we at SISM estimate total gross recoverable volume of 140.9 million barrels from our assessment against 1,174.8 million recoverable reserves", said Ernest Schlotter. He added: "This value assumes a 12% recovery factor versus an 8% recovery rate we used in our last report". SISM Research arrived a net asset value of $5.75 which the Research firm were using as the basic for determine their new 12 month target price. Deep Well Oil & Gas Corp. pays SISM Research $1,750 per month over a two-year period solely to ensure independent coverage. SISM Research, based in Zurich, Switzerland, is a private investment research firm offering high-quality, independent, fundamental research on public companies since 1995. SISM writes, publishes and distributes research coverage, in both English and German, on micro- to small-cap public companies trading on the OTC Bulletin Board, NASDAQ and AMEX. This coverage is geared toward institutional and individual investors in both North America and in German-speaking Europe, a market that represents more than 100 million people. SISM Research is a content provider to Thomson Financials OneAnalytics/FirstCall and Investext, to Reuters Multex, and InvesTrend. Both SISM Research and InvesTrend Research subscribe to the "Standards for Independent Research Providers." Complete information is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company. The company's research will be enrolled for investor monitoring by the Shareholders Research Alliance (http://www.shareholdersresearch.com) Anyone interested in receiving alerts regarding Deep Well research should email contact@investrend.com with "DWOG" in the subject line.