Delphi Energy Corp. DPGYF

When will the value be unlocked?

[raggetyjack]

Lots of value is locked up in Delphi right now.
Mr. Market is not giving it a fair price at this time.
With Kaluza going to Baytex in charge of lands and their intention to expand in the deep
basin one has to think a possible buyout is plausible over coming months. Also they
haven't replaced Kaluza so it would imply also something is in the works.

Wapiti:
Of the five Q1 completed wells.
Two (1.6 net) have initial 21 dayaverage production rates of 745 boe/d per well.
Two wells (2.0 net) haveinitial seven day average production rates of 550 boe/d per well.
One well (1.0 net) has came on-stream at 1,100 boe/d.
The wellswere drilled, completed and tied in at an average cost of approximately$3.0 million.
The remaining three wells (2.8 net) of the eight wellwinter drilling program will be completed and brought on-stream afterspring break-up which should be very soon.
There are seven more Wapiti wells slated for Q3 onward which are drilling now.
Wapiti wells are up to 120 bbls per day of NGL and they are increasing field capacity to over 7,000
right now.
They are looking at 9200 boe/d for Q2 which should be out next week and the upside for more
production from Wapiti is high in my estimation.


LANDS:
The Company has been adding to its Wapiti land base through Crown landsales and industry farm-in activity and has an average working interestof 57 percent in 107 sections of land.

Delphi holds an interest in 466sections of land (65 percent working interest) within the Company's DeepBasin core areas of Wapiti, Hythe and Bigstone.
Sinclair drilling set to begin any day now.
Well ID:  02/07-10-073-12W6/0 
Fluid:  CRUDE OIL 
Licensee:  DELPHI ENERGY CORP. 
License Date:  26-Jul-2011 
Projected Depth:  2,200.0 m 
Field:  SINCLAIR 
Terminating Zone:  DOE CREEK MBR

In addition, theCompany has an average working interest of 76 percent in 71 sections ofMontney rights and an average working interest of 81 percent in 123sections of Duvernay rights.
Celtic, Trilogy and Yoho along with host of others are derisking the Duvernay. These are expensive wells
at about $10 million per well so maybe a farm-in will come along soon or a sale of the Duvernay would
fetch a fair chunk of change also to wipe out bank debt.