Daulton Capital Corp.
OTC Bulletin Board : DUCP

Daulton Capital Corp.

May 05, 2011 06:01 ET

Daulton Capital Announces Letter of Intent to Acquire Oil, Gas and Liquid Natural Gas Rights to Property in Papua New Guinea

LAS VEGAS, NEVADA--(Marketwire - May 5, 2011) - Daulton Capital Corp. (OTCBB:DUCP), has signed a Letter of Intent with South Pacific Connection Limited (SPC) of Papau New Guinea (PNG) to acquire a 64% working interest in the Oil, Gas and Liquid Natural Gas rights of SPC's property in PNG. Details of the property and terms of the agreement will be released in subsequent releases. Daulton expects to close on the agreement within ten (10) days.

"We believe this agreement will be in keeping with the corporate philosophy of Daulton to be a project generator with the objective of optioning/joint venturing projects with major and junior natural resource companies through to production" said Terry Fields, CEO. Mr. Fields, further stated, "Daulton Capital is being presented with a great opportunity to participate in a prolific proven hydrocarbon province, a Commonwealth country with significant international Liquid Natural Gas interests close to the Asian markets that is relatively underexplored." PNG is a politically stable country with a rapidly growing infrastructure and stable fiscal system.

Papua New Guinea is richly endowed with gold, copper, oil, natural gas, and other minerals. Government revenues and foreign funds depend heavily on mineral and oil exports. A consortium led by Exxon/Mobil signed a final investment decision in December 2009 to begin the commercialization of the country's estimated 22.5 trillion cubic feet of natural gas reserves through the construction of a liquefied natural gas (LNG) production facility. Interoil, an American-owned firm, opened Papua New Guinea's first oil refinery in 2004 and is also building a second liquefied natural gas production facility which it aims to complete by 2012 with production capacity of 32,500 barrels of product per day.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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