Delta Oil and Gas (DLTA:OTCBB) is pleased to report that Natural Gas and Condensate production for its recently drilled and completed Donner #4 well, located in Newton County, Texas, is showing signs of stabilized production at approximately 400 MCF per day of sweet gas and 1 – 2 barrels of condensate per day. This recently completed well is expected to be a solid producer at a consistent rate into the future.
The Donner #4 well is the third successful well drilled in this prospect for Delta and its partner, Hillcrest Resources Ltd. (HRH:CA). The previously drilled Donner #1 has been consistently flowing high quality oil at a daily rate of between 40 and 48 barrels of oil on a restricted 5/64” choke. The Donner #1 production has not changed in almost 2 years with no signs of decline or water intrusion. The previously drilled Donner #2 sweet gas well is producing in the range of 400 MCF of natural gas per day.
Christopher Paton-Gay, Delta’s CEO stated that “with the ongoing goal of increasing shareholder value in Delta, we are pleased with the results and performance of each of these three wells. Delta’s proportionate share of the revenue from these wells and the increase in reserve report value for the property as a whole with each additional successful well greatly helps Delta improve value for its shareholders and gives Delta the further ability to seek out and develop additional wells and properties in due course.”
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.
Investor Relations, 1-866-355-3644