SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

YOUYOU MALIK

(Last)

(First)

(Middle)

SADOVNICHESKEYA NAB 69

(Street)

MOSCOW

115035

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/22/2007

3. Issuer Name and Ticker or Trading Symbol
DEEP WELL OIL & GAS INC [ DWOG ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	8,333,333⁽¹⁾⁽²⁾	D
Common Stock	1,674,842	D
Common Stock	1,908,620	I	See Footnote⁽³⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Whole Warrants to purchase common stock	06/22/2007	06/22/2010	Common Stock	8,333,333	$0.9	D⁽¹⁾⁽²⁾
Special Warrants to purchase common stock	06/22/2007	06/22/2012	Common Stock	1.2	$1.2	D⁽¹⁾⁽²⁾

Explanation of Responses:

1. Effective on June 22, 2007, Malik Youyou closed a private placement with the Issuer for an aggregate of 8,333,333 units at a price of US$0.60 per unit, for total gross proceeds of US$5,000,000. Each unit is comprised of one common share ("Common Share"), one Common Share purchase warrant ("Whole Warrant") and another twelve one-hundredths Common Share purchase warrant ("Special Warrant"). Each Whole Warrant entitles the holder to purchase one additional Common Share at a price of US$0.90 per Common Share for a period of three years from the date of closing. Each Special Warrant entitles the holder to purchase a Common Share at a price of US$1.20 for a period of five years from the date of closing. The exercise price of the Whole Warrants and the Special Warrants will be adjusted from time to time upon the occurrence of certain events, as provided in the warrants. (Continued in Footnote 2)

2. The Whole Warrants expire on June 22, 2010 and the Special Warrants expire on June 22, 2012. Form of Subscription Agreement, Form of Whole Warrant and Form of Special Warrant for this private placement of units was filed with Form 8-K on July 5, 2007 and incorporated herein by reference.

3. Westline Enerprises Limited, a company 100% owned by Malik Youyou

	/s/ Malik Youyou	03/17/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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