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DELTA OIL & GAS commences Todd Creek drilling
DELTA OIL & GAS INC. OTCBB: DOIG May 10, 2005
Delta Oil and Gas, Inc. (OTC:BB – DOIG) is pleased to announce that it has commenced drilling on its Todd Creek property in Alberta, Canada. The well is located in 13-28-9-2W5 which is 500 meters south of the discovery well at 6-33-9-2W5.
The objective of the 13-28 well is to access several gas sands. Following the drilling and evaluation of the 13-28 well, additional drilling is anticipated during the second half of the year on company lands. Based on an independent review of the 6-33 well, a successful well in 13-28 will prove significant gas reserves on company lands and we estimate that the entire Todd Creek area has the potential to be a new gas pool.
In February 2005, the Company acquired a 20% working interest in 13.75 sections of land (8800 acres) in Todd Creek. The Company also has an option to earn 15% in 7 additional sections of land (4,480 acres). The operator of the Todd Creek concession has received a license to install a gas plant facility for up to 10,000 mcf/day of gas to be located just south of the Company’s lands. While Delta Oil and Gas will have no direct interest in the plant, the immediate access to market for its anticipated production from the area, is of substantial benefit.
About Delta Oil and Gas, Inc.
Delta Oil and Gas is a growing exploration company focused on developing North American oil and natural gas reserves. The Company's current focus is on the exploration of its land portfolio comprised of working interests in highly prospective acreage in the Southern Alberta Foothills area and is looking to expand its portfolio to include acreage in the US.
On behalf of the Board of Directors,
DOUGLAS N. BOLEN, B.A., LL.B., President
Safe Harbor Statement
This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to time frames, expectations for completion; the analysis of results and the intention to drill. Actual outcomes and the Company's results could differ materially from those in such forward-looking statements. Factors that could cause results to differ materially include general factors that affect all companies that explore for oil and gas, such as the uncertainty of the requirements demanded by environmental agencies, the fact that oil and gas extraction and production is risky, the potential that no commercial quantities of gas are found or recoverable, the price of oil and gas, geological problems that prevent us from reaching drilling targets and specific risks such as the Company's ability to raise financing.
CONTACT:
Andrew Hay
1.866.355.3644
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