2009-09-24-2009-08-04-2009-08-31

Bought 20,360 net acres in Gold Creek/Wapiti areas of AB, gaining 400 BOE/d, 843,000 BOE proved.

Delphi Energy Corp., Calgary, (Toronto: DEE) has acquired gas-weighted properties in the Gold Creek/Wapiti areas of northwestern Alberta from an undisclosed seller for approximately C$11.8 million. Delphi estimates it paid C$26,600 per flowing barrel. The properties are between the company's Hythe and Bigstone core properties and include approximately 50,800 acres (20,360 net), of which approximately 22,000 acres (9,930 net) are undeveloped. An additional 55,300 acres (29,200 net) of undeveloped land will expire within 12 months that the company is evaluating for upside. Production is approximately 400 barrels of oil equivalent per day (77% gas). Proved reserves are approximately 843,000 barrels of oil equivalent (1.43 million proved plus probable). The deal also involves interest in three gas plants including a working interest in the Devon Wapiti Deep Cut gas plant, Devon Wapiti Shallow Cut gas plant and the BP South Wapiti gas plant, 10 compression stations and approximately 393 kilometers of pipelines.