Profile: Delta Oil & Gas Inc (DLTA.PK)
22 Jul 2019
Delta Oil & Gas, Inc., incorporated on January 9, 2001, is an independent natural gas and oil company engaged in the exploration, development, and acquisition of natural gas and oil properties in the United States and Canada. The Company seeks to acquire and develop properties with undeveloped reserves that are economically attractive to it. The Company’s focus is on the exploration of its core land portfolio comprised of working interests in acreage in Eastern Texas. Its properties include Texas Prospect, Premont Northwest Field and King City.
The Company entered into an assignment agreement with Barry Lasker (the Assignor) and was assigned all of Assignor’s rights and obligations under two oil, gas and liquid hydrocarbon lease agreements (the Leases), covering an aggregate area of approximately 243 acres in Newton County, Texas (the Texas Prospect). These Leases provide the Company with the ability to drill up to three exploration wells. The Company has drilled and completed the first two exploration holes.
Premont Northwest Field
The Company entered into an agreement with Progas Energy Services LLC, a Texas oil and gas company, to jointly develop the Premont Northwest Field located in Jim Wells County, Texas. The first four wells in the Premont Northwest Field have shown oil stains in at least one zone per well.
The Company entered into a farm-out agreement with Sunset Exploration, a California corporation, to participate in the drilling and exploration of lands located in Monterey County, California. The prospect area where the drilling and exploration will take place consists of approximately 10,000 acres.
Delta Oil & Gas Inc
710 N Post Oak Rd
HOUSTON TX 77024-3840