Delta Oil & Gas drills first well at its King City, California Prospect

Source: Delta Oil and Gas, Inc.

Delta Oil and Gas, Inc, (OTCBB: DLTA.OB) is pleased to report that Delta and its partners have drilled the first discovery well (“SBV-2-32”) at its King City, California Prospect. The SBV-2-32 well was spud on November 22, 2011 and was drill to a total depth of 3,468 feet on November 29, 2011. Casing was set and cemented in place to total depth. Two intervals showed promise for the production of commercially viable quantities of hydrocarbons. The first interval of approximately 30 feet with 12 API gravity showed good oil staining on drilling and provided a good log response. The second interval of interest indicated approximately 70 feet of oil pay with 17 – 18 API gravity also with good oil staining during drilling and very good log response.

We expect that both sands will be tested within the next 30 days with completion efforts to follow shortly thereafter. Following a successful completion of this initial well, Delta and partners expect to drill and test additional wells in this area upon obtaining the required permitting from the County.

Background:

On May 25, 2009, Delta entered into a Farm-out agreement with Sunset Exploration to participate in a drilling and exploration of approximately 10,000 acres of land located in Monterey County, California. Delta agreed to pay 66.67% of all costs to casing point expended in respect of the initial test well to earn a 40% Working Interest. On all subsequent wells, Delta agreed to pay 40% of the costs to earn its 40% Working Interest.

To date, all referenced lands were shot with a 2 dimensional seismic swath as well as a gravity survey. The prospect area is in and around the King City Oilfield, and the current data will enable the Company to effectively test the entire Monterey sections.

General:

Delta is also pleased to disclose that it had launched its new website which can be found at www.deltaoilandgas.com. Delta feels that this website better describes our prospects, accomplishments and goals and should serve as a current source of information for all of Delta’s events. Periodic company e-mails will be distributed to all who visit the site and provide their e-mail address for that purpose.


Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs