6:39pm ET (Reuters) * Says will exchange non-core assets, pay C$10 mln cash
* Sees additional production of about 630 boepd at Hythe
Sept 30 (Reuters) - Canada's Delphi Energy Corp said it would acquire additional natural gas and light oil assets and related infrastructure at Hythe, Alberta, primarily to boost production.
The acquired assets complement Delphi's existing assets at Hythe, where production has grown from 400 barrels of oil equivalent per day (boepd) to 2,000 boepd over the past two years, the company said in a statement.
Delphi expects additional production of about 630 boepd at Hythe.
The company said it would exchange non-core producing assets and related infrastructure and pay net cash of C$10 million for the acquisition.
The transaction is expected to close by Nov. 3, Delphi said.
The company also maintained its outlook of lowering net debt by about C$2 million to C$4 million by Dec. 31.
Shares of the Calgary, Alberta-based company closed at C$1.41 Wednesday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Ratul Ray Chaudhuri) 
Delphi Energy to list 12 million more shares
2009-09-28 18:16 ET - Prospectus Approved
TSX bulletin 2009-1226
An additional 12 million common shares (symbol: DEE) will be listed at the opening on Wednesday, Sept. 30, 2009. The listing will cover common shares to be sold to the public at a price of $1.25 per common share pursuant to the terms of a short-form prospectus dated Sept. 23, 2009. The closing of the offering is expected to occur prior to the opening on Sept. 30, 2009.
Delphi Energy arranges $15-million financing
2009-09-09 17:33 ET - News Release
Mr. David Reid reports
DELPHI ENERGY ANNOUNCES FINANCING
Delphi Energy Corp. has entered into a financing agreement with a syndicate of underwriters, led by National Bank Financial, to issue and sell, on a bought-deal basis, 12 million common shares of Delphi at an issue price of $1.25 each, resulting in gross proceeds of $15-million. The underwriters will have the option to acquire up to an additional 1.2 million common shares at an issue price of $1.25 per common share for additional gross proceeds of up to $1.5-million for total gross proceeds of up to $16.5-million. Proceeds of the offering will be used to finance Delphi's continuing light oil development program in Hythe and additional potential acquisition opportunities. The offering is subject to normal regulatory approvals, including approval of the Toronto Stock Exchange. Closing is expected to occur on or before Sept. 30, 2009.
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