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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 26, 2005
DEEP WELL OIL & GAS, INC.
(Exact name of Registrant as specified in its Charter)
Nevada 0-24012 13-3087510
(State or other Jurisdiction) (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
10117 Jasper Avenue, Suite 510, Edmonton, Alberta, Canada T5J 1W8
(Address of principal executive offices)
Registrant's telephone number, including area code: (780) 409-8144
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 1.02 Termination of a Material Definitive Agreement
On February 25, 2005 Deep Well Oil & Gas, Inc. ("Deep Well") signed a
farmout agreement (the "Agreement") with Surge Global Energy, Inc and Surge
Global Energy (Canada), Ltd. (collectively "Surge"). The Agreement allowed Surge
to earn up to a 40% working interest in the farmout lands if it met certain
conditions, including that it "spud" a first well on the farmout lands or before
the deadline contained in the Agreement. The Agreement was amended by the
parties on July 14, 2005 to provide Surge with an extension, to September 25,
2005, to meet its obligations under the Agreement. Surge did not "spud" the
first well on or prior to September 25, 2005.
On September 26, 2005, Deep Well notified Surge that Surge was in default
(the "Notice") under the Agreement, and terminated the Agreement. In the Notice,
Deep Well notified Surge that Surge failed to meet the Agreement's condition
that Surge spud a test well on the farmout lands on or prior to September 25,
2005, and was in breach of other provisions of the Agreement.
Item 9.01 Financial Statements and Exhibits
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
99.1 Press Release, dated September 28, 2005.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
DEEP WELL OIL & GAS, INC.
Date: September 28, 2005
By: /s/ Dr. Horst A. Schmid
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Name: Dr. Horst A. Schmid
Title: President
EXHIBIT INDEX
Exhibit Description
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99.1 Press Release, dated September 28, 2005.