Daytona Energy Corporation
TSX VENTURE : DTE

Daytona Energy Corporation

June 16, 2009 16:32 ET

Daytona Energy Corporation: Walker #1H Well on North Sharon Prospect Flowing Gas to Sales

CALGARY, ALBERTA--(Marketwire - June 16, 2009) - Daytona Energy Corporation (TSX VENTURE:DTE) announces the Walker #1H well has been completed and is flowing gas to sales. Production began May 26, 2009 initially producing up casing at rates as high as 800 mcf/d with approximately 10 barrels of water per hour. The well is currently producing at a rate of 500 mcf/d with 6 barrels of water per hour.

It is believed the water is being produced from a source external to the producing Selma Chalk horizon and the operator of the well has run cased-hole production logs to determine the source of the water. That data is currently being analyzed to develop a plan to reduce the amount of water being produced when tubing is run in the wellbore.

The Company has a 25.875% non-operated working interest in the project where 3,200 acres are under lease. Averages per well recoveries in the producing area immediately west of the prospect are 2.7 BCF with over 30 BCF recoverable within one 640 acre section.

Daytona is an oil and gas exploration/development company, focused on gas exploration in Alberta, Canada and the Gulf Coast region of the United States.

ON BEHALF OF THE BOARD OF DIRECTORS OF DAYTONA ENERGY CORPORATION

Jim Breimayer, President & CEO

Additional information is available at www.DaytonaEnergy.com.

Except for historical information contained in this release, the matters discussed are forward looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "probable" and "intend" and similar expressions, as they relate to the Company or its management, identify forward looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development; commercialization or technological difficulties; the regulatory and trade environment. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Daytona Energy Corporation
    Jacqueline M. Tucker
    1-888-420-4788
    or
    Daytona Energy Corporation
    Jim Breimayer
    President & CEO
    (903) 939-1380
    Website: www.DaytonaEnergy.com