Information Extraction (IE) is an important research field within the Artificial Intelligence community, for it tries to extract relevant information out of vast amounts of data. In this paper, we propose an extraction method that utilises the content and pre-defined semantics of ontologies formulated in the Web Ontology Language (OWL) to perform the extraction task. We also propose our method to detect outof-date constructs in the ontology to suggest changes to the user. After stating the results of our evaluation, we conclude that the use of ontologies in conjunction with IESs can indeed yield feasible results and contribute to the better scalability and portability of the system. Key words: Ontology-Driven Information Extraction, Information Extraction, Ontology Engineering