DEE ENERGY Ready To Run

UPDATE 1-Delphi Energy acquires assets at Hythe, Alberta
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.

Buy Bankers On A Dip And A Red Day = Buy Today

BANKERS PETROLEUM
(T-BNK)
$4.68 +0.17

I guess everyone out there knows that for much of the
last part of the year, Bankers Petroleum was one of our fa-
vourite stories (although now Wavefront Energy is very close
on their heels). We thought we were safe sending out a
note on Bankers in the form we did last week—what with
Abby Badwi off speaking in Connecticut and Doug Urch at
an energy conference in Toronto. No one would note any-
thing we would write here, right? Wrong. It’s not as if
Abby took us out behind the shed for a spanking or any-
thing, but there were a few corrections that he figured peo-
ple should be aware of. His points are:
1)
Bankers had a CAPEX of $78 million in 2008 and are
planning a $50 million program this year, despite only
spending $7 million in first half of this year. 2010 he
suggests, will probably exceed $100 million. This point
is made because we has suggested that some people
even within Bankers might love being taken over by a
huge international that would allow them to throw huge
dollars at their projects in Albania, just to see what it
can do. Bankers is already and definitely doing that,
particularly next year.



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