Newcastle Energy (NGY) 6-K Derek Oil and Gas 6K

   

Suite 1550 – 355 Burrard Street

Vancouver, B.C., Canada, V6C 2G8

Tel: (604) 331-1757  Fax: (604) 669-5193

TSX - DRK

   OTC BB - DRKOF

November 7, 2003

           Form 20-F File No.: 0-30072

DEREK CLOSES FINANCING

(Vancouver, B.C., November 7, 2003) –Derek Oil & Gas Corporation (the “Company”) reports that, on November 5, 2003, the Company closed a private placement announced on October 2, 2003.  The private placement consists of 1,666,667 units at a price of $0.30 per unit, for total proceeds of $499,999.60. Each unit consists of one common share and one common share purchase warrant.  Each common share purchase warrant may be redeemed for one common share at a price of $0.40 within one year.  A finder’s fee was paid on a portion of the placement.

These securities are subject to a hold period expiring at midnight on March 4, 2004.  In addition, these securities are subject to the United States Securities Act of 1933 or any applicable State Securities Laws.

-30-

DEREK OIL & GAS CORPORATION

______”Barry C.J. Ehrl”_______________

Barry C.J. Ehrl, Director

For further information please contact Investor Relations 1-888-756-0066 or (604) 331-1757

www.derekresources.com

Corporate e-mail:  info@derekresources.com

The Canadian Venture Exchange has neither approved nor disapproved

the information contained herein

Cautionary Note to U.S. Investors:  Investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-30072, available from us at Suite 1550, 355 Burrard Street, Vancouver, British Columbia, Canada, V6C 2G8.  You can also obtain this Form 20-F from the SEC by calling 1-800-732-0330 or you may find it online at www.sec.gov or at www.sedar.com where it is filed as the Company’s Annual Information Form.