In light of the current weakness in the natural gas market, coupled with the elevated cost of services, Delphi has elected not to proceed with the Area 2 development under the original terms of the farm-in contract. The Company is encouraged with the prospectivity of the Area 2 lands based upon the ongoing interpretation of the 3D seismic program that was acquired this past winter and therefore remains in discussions with its joint-venture partner regarding future potential development of the Area 2 lands. Delphi will communicate the outcome of these discussions once completed.
Delphi Energy is a Calgary-based company that explores, develops and produces oil and natural gas in Western Canada. The Company is managed by a proven technical team. Delphi trades on the Toronto Stock Exchange under the symbol DEE.
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