DELP holds an average of 95% W.I. in 65,000 gross acres onshore near Lake Erie. Sweet, light oil production comes from the Trenton Formation within Ordovician age carbonates at 850 metres average geological depth. Going forward DELP will evaluate onshore recompletion candidates that were identified by the previous operator.

 

95 percent DELP-owned Onshore Light, Sweet Oil Assets (March 2010)

 

Production (42°API) sweet oil – 690 bbls per day
Proved reserves: crude oil 1.7 million barrels with reserve-life-index of 7.1 years*
Average working interest: 95 percent
2D onshore seismic – 2,780 linear km
3D onshore seismic – 39.2 square km

 

* Dec 31, 2010 independent evaluation by AJM Petroleum Consultants.

 

2011 Work Program

 

• Drill 4 development wells
• Conduct up to 12 workovers
• Acquire 3-dimensional seismic to locate future drilling locations