Delta Oil and Gas (DLTA:OTCBB) is pleased to report that the recently drilled and completed Donner #4 gas well, located in Newton County, Texas, has started producing natural gas and condensate and the first sales from this well have taken place. Delta and its partner, Hillcrest Resources, Ltd. (HRH:CA), recently drilled the well to a total depth of 7,510 feet and it was completed in the 7,400 Struma sand. The Struma sand is a known gas producer and has produced prolifically elsewhere in the Field.
The Donner #4 well was opened to sales flowing gas at a restricted rate of approximately 385,000 cubic feet per day on a severely restricted choke of 5/64th of an inch. The choke will be increased over the coming days as the contract Operator settles in on an optimum gas rate, expected to be in excess of 500,000 cubic feet per day.
“With its first gas sales being reported, the Donner #4 well is the third successful well in our Newton County Prospect”, stated Christopher Paton-Gay, CEO. Delta has been able to continue to exploit this Prospect through non-dilutive financing and with the success of this latest well, we will see an immediate increase in cash flow and reserve value.”
About Delta Oil and Gas
Delta Oil is an exploration and production company focused on developing North American oil and natural gas reserves. Delta Oil’s current focus is on the exploration of its land portfolio comprised of working interests in Newton County, Texas and South Central Oklahoma.
On behalf of the Board of Directors,
DOUGLAS N. BOLEN, President
Contact: Investor Relations at 1.866.355.3644
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Contacts:
Investor Relations, 1-866-355-3644
