Delta Oil and Gas, Inc, (OTC:BB – DLTA) is pleased to report that the first three wells at its 2009–1 Garvin County, Oklahoma Project drilling program have been completed and are flowing oil and natural gas.
The Saddle-1–28 well was drilled to a depth of 4,875 feet and after testing, production casing was set and the well is now producing oil and natural gas. The Saddle-2–28 was drilled to a total depth of 4,575 feet and initial testing justified the setting of production casing as well. Production has commenced on this well and it is producing natural gas. The Saddle-3–28 was drilled to a total depth of 4,750 feet, production casing was set in place and the well is being tested for oil and natural gas. The volumes of oil and natural gas being produced have not yet stabilized and as such, actual flow rates are expected to be announced in the near future.
As part of this 2009–1 drilling program of which Delta owns a 5% interest, there are an additional two wells yet to be drilled. They are called the Saddle-1–27 and the Saddle-2–27. They are in the same area as the first three wells and are expected to yield similar results to the first three wells in this program. The progress of drilling and completion activities are expected to be announced as information becomes available.
About Delta Oil and Gas
Delta Oil is an exploration 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 acreage in King City, California; Southern Saskatchewan, Canada; Newton County, Texas, and South Central, Oklahoma. As a result of its acquisition of a controlling interest in The Stallion Group, a Nevada corporation, it expanded its property interests to include acreage in the North Sacramento Valley, California.
On behalf of the Board of Directors,
DOUGLAS N. BOLEN, President
Safe Harbour Statement
Statements in this press release which are not purely historical, including statements regarding Delta Oil’s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company’s actual results could differ materially from those in any such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company’s SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2008 and the quarterly reports on Form 10-Q filed subsequently. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Delta Oil & Gas, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
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