Daytona Energy Corporation
TSX VENTURE : DTE

Daytona Energy Corporation

August 31, 2007 13:46 ET

Daytona Energy Corporation: Pandura Prospect-Drilling Update

CALGARY, ALBERTA--(Marketwire - Aug. 31, 2007) - Daytona Energy Corporation (TSX VENTURE:DTE) today announced an update on drilling of the Kathleen Marie #2 well at the Pandura Prospect in Webb Co., Texas.

Progress report on the Kathleen Marie #2 well as of 6:00 a.m. August 31, 2007



Current depth: 4,424 feet.

Operation: Drilling ahead; 9 5/8th inch casing set at 1,025 feet.

The primary target Lobo 6400 sand is anticipated at
6,400 feet. Secondary target Lobo and Navarro sands at
varying depths. Proposed depth is 8,500 feet.

Pandura Prospect: The Pandura Prospect is located in the centre of the
Lobo Gas Trend in Webb County, Texas, near the U.S.A. /
Mexican border. It lies within the Maria H. Llanos gas
field. The Kathleen Marie #2 well is a "step-out
development well" rather than an exploratory well. The
main target of this test is the "6400 sand", which is
probably stratigraphically equivalent to what is usually
termed the "Lobo 1 Sand". Secondary targets include
Lobo 3 and Lobo 6 sand packages as well as the
underlying Navarro Sand.


Daytona will have approximately 45% working interest in the well with its partners owning the remaining interest.

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 & Chief Executive Officer

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

  • MarketSmart Communications Inc.
    1-877-261-4466
    or
    Daytona Energy Corporation
    Jim Breimayer
    (903) 939-1380
    Website: www.DaytonaEnergy.com