DELP holds an average of 95% W.I. in 84,293 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 and from Silurian carbonates at depths up to 550m. Going forward DELP will evaluate onshore recompletion candidates that were identified by the previous operator.

 

90 percent DELP-owned Onshore Light, Sweet Oil Assets (March 2013)

 

Production (32-42°API) sweet oil – 748 bbls per day (2012)
Proved reserves: crude oil 1.7 million barrels with reserve-life-index of 6.5 years*
Average working interest: 90 percent
2D onshore seismic – >3,000 linear km
3D onshore seismic – >50 square km

 

* Dec 31, 2012 independent evaluation by AJM Petroleum Consultants.

 

2013 Work Program

 

• Drill 3 wells targeting oil
• Acquire 2-dimensional seismic to locate future drilling locations
• Abandon up to 6 shut-in wells