Vancouver, BC — March 14, 2018 — Website Announcement — Delta Oil & Gas, Inc. (the “Company”) (OTC: DLTA), is pleased to announce corporate updates and turnaround steps as part of its first reorganizational phase to position itself for its impending mergers & acquisitions (“M&A”) plan.
The Company is actively reorganizing its Board of Directors and will subsequently appoint a new Chief Executive Officer and executive cabinet. Excellent candidates have already been interviewed and appointments should be made shortly.
Audit & SEC Filings
As part of this turnaround effort, the Company has already started to prepare its financials to be submitted to an auditor once engaged. Details of this will be announced as soon as prudently possible.
As part of the evaluation of the current Company’s financials, DTLA intends to evaluate its oil & gas lease portfolio for potential upside. The Company has been active in lease, development, and divestiture practices since inception. It is the Company’s intention to continue this focus and expand through M&A.
The Company is focused on how it can expand its oil & gas lease portfolio through M&A. The markets are full of distressed production companies with upside, private equity portfolios looking for exits, and generational portfolios looking for a path to liquidity. These markets are ripe for consolidation and reverse merger type transactions and the Company will look to take advantage of this unique situation.
About Delta Oil & Gas, Inc.
Delta Oil & Gas is a small oil and gas exploration and production company focused on increasing net asset value by leveraging experience and modern technologies combined with strategic partnerships with industry leaders to maximize reservoir potential. Delta Oil & Gas chooses projects that are strategically located in proven natural gas producing areas of North America. The company currently enjoys land positions in the natural gas and oil areas of California, Texas and Oklahoma. For more information: http://www.deltaoilandgas.com
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding our strategy; any statements regarding visibility and future utilization; any projections of financial items; any statements regarding future operations expenditures; any statements regarding the plans, strategies and objectives of management for future operations; any statements regarding our ability to enter into and/or perform commercial contracts; any statements concerning developments; any statements regarding future economic conditions or performance; any statements regarding the offering and the use of proceeds therefrom; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. The forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results of the repurchase offer; market conditions; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ultimate ability to realize current backlog; employee management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the SEC, including DLTA’s most recently filed Annual Report on Form 10-K and in DLTA’s other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements except as required by the securities laws.
700 West Pender Street
Vancouver, BC Canada V6C 1G8
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- 03/13/2018 Delta Oil & Gas is Pleased to Announce Corporate Updates and Initiation of Corporate Turnaround
- 05/21/2013 Delta Announces a New Independent Director
- 09/19/2012 Delta Oil & Gas Identifies Several Pay Zones in its new Texas Drilling Prospect
- 09/12/2012 Delta announces new partner on King City oilfields project
- 01/09/2012 Delta drills first well at its King City, California prospect