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Delta Oil & Gas, Inc. commences production on 4 Wells at
its Oklahoma Prospect
April 8, 2010
Delta Oil and Gas, Inc, (OTC:BB – DLTA)
is pleased to report that the company has received stabilized
flow rates for the first and second wells drilled and completed
at its Oklahoma prospect.
After the initial period of production,
the flow rates on the first and second wells have stabilized at
approximately 400 barrels of oil per day combined with some associated
natural gas. This confirms our initial conclusion that we have
identified a significant new oil discovery in this area.
Electric logs also indicate the potential for numerous
additional high potential pay zones above this tested zone, including
one that is known to have flowed oil and gas to the surface during
earlier drill stem testing.
The 3rd and 4th wells in this 4 well drilling program
have also been drilled, completed and are undergoing further testing
for commercially viable quantities of hydrocarbons. Electric logs indicate
that the drilling of these wells may have intersected up to nine separate
pay zones. The initial indications are that on the fourth well, two
significant pay zones were intersected which total approximately 34
feet of hydrocarbon pay. In addition, there may be several other smaller
pay zones.
Because of the success of this drilling program,
there may be the potential for one or more offset wells in which Delta
would participate. Delta owns a 5% working interest in the wells covered
by this drilling program and has fully paid the costs associated with
this program.
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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