Delta Oil and Gas Announces First Natural Gas Sales from Donner #4 Well
03 April 2014 - 3:15PM
Business Wire
Delta Oil and Gas (DLTA:OTCBB) is pleased to report that
the recently drilled and completed Donner #4 gas well, located in
Newton County, Texas, has started producing natural gas and
condensate and the first sales from this well have taken place.
Delta and its partner, Hillcrest Resources, Ltd. (HRH:CA), recently
drilled the well to a total depth of 7,510 feet and it was
completed in the 7,400 Struma sand. The Struma sand is a known gas
producer and has produced prolifically elsewhere in the Field.
The Donner #4 well was opened to sales flowing gas at a
restricted rate of approximately 385,000 cubic feet per day on a
severely restricted choke of 5/64th of an inch. The choke will be
increased over the coming days as the contract Operator settles in
on an optimum gas rate, expected to be in excess of 500,000 cubic
feet per day.
“With its first gas sales being reported, the Donner #4 well is
the third successful well in our Newton County Prospect”, stated
Christopher Paton-Gay, CEO. Delta has been able to continue to
exploit this Prospect through non-dilutive financing and with the
success of this latest well, we will see an immediate increase in
cash flow and reserve value.”
About Delta Oil and Gas
Delta Oil is an exploration and production 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 Newton County, Texas and South Central
Oklahoma.
On behalf of the Board of Directors,
DOUGLAS N. BOLEN, President
Contact: Investor Relations at 1.866.355.3644
Cautionary Statement Regarding “Forward-Looking”
Information
Some of the statements contained in this press release are
forward-looking statements and information within the meaning of
applicable securities laws. Forward-looking statements and
information can be identified by the use of words such as
“expects”, “intends”, “is expected”, “potential”, “suggests” or
variations of such words or phrases, or statements that certain
actions, events or results “may”, “could”, “should”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond the Company’s
control. Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
Delta Oil and GasInvestor Relations, 1-866-355-3644
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