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Delta Oil & Gas Makes New Oil & Gas Discovery
at Oklahoma Prospect
November 30, 2009
Delta Oil and Gas, Inc, (OTC:BB – DLTA)
is pleased to report that the first well of the 2009-3 Oklahoma
Project drill program appears to be a significant new discovery.
The
Jackson-1-18 was drilled to a total depth of 5,493 feet. Electric
well logs and a drill stem test that flowed both oil and gas, indicate
the strong likelihood of another producing well for the Company. Logs
also indicate that the well has as many as nine separate potential
pay zones in three separate geological formations.
The Jackson-1-18
discovery is part of a four well program, and is located in the same
geographic area as a highly successful well drilled in the 2008-3 program.
Although Delta did not participate in that drilling program, that well
was completed in mid-May and commenced flowing oil and gas at rates
between 380 and 400 barrels of oil and 60 mcf of natural gas per day.
After six months, the well from the 2008-3 program is still flowing
at these same production rates with no decrease in flowing pressures.
As of November 1, 2009, the well had already produced over 65,000 barrels
of oil and 7,400 mcf of gas.
A work over rig will be mobilized to complete
the Jackson-1-18 well and perform any required treatments prior to
final testing. Further information regarding the 2009-3 drilling program
will be disclosed as it becomes available.
The next of a total of 4
wells to be drilled as part of this drilling program is called the
Brewer-1-20 and is to be drilled to a total depth of 6,400 feet. Drilling
progress and results of this well will be disclosed as information
becomes available.
Delta owns a 5% working interest in the wells covered
by this drilling program and has fully paid the costs associated with
this well.
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; 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.
1.866.355.3644
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