DELP holds an average of 95% W.I. in 62,000 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 and from Silurian carbonates at depths up to 550m. Going forward DELP will increase oil production with onshore recompletion candidates and stimulation treatments that will remove wax deposits from wells and pipelines.

 

90 percent DELP-owned Onshore Light, Sweet Oil Assets (June 2015)

 

Production (32-42°API) sweet oil – 591 bbls per day (2015)
Proved reserves: crude oil 1.54 million barrels with reserve-life-index of 11.8 years*
Average working interest: 90 percent
2D onshore seismic – >3,000 linear km
3D onshore seismic – >50 square km

 

* Dec 31, 2014 independent evaluation by AJM Petroleum Consultants.

 

2015 Work Program

 

• Work over existing wells and pipelines to remove wax deposits
• Form industry partnerships to farm-in to the Company’s undrilled prospects
• Abandon up to 5 suspended wells
• Evaluate energy-related opportunities
• Identify oil prospects for future drilling