Daytona Energy Corporation
TSX VENTURE : DTE

Daytona Energy Corporation

September 04, 2007 11:34 ET

Daytona Energy Corporation: Pandura Prospect

CALGARY, ALBERTA--(Marketwire - Sept. 4, 2007) - Daytona Energy Corporation (TSX VENTURE:DTE) announced today that it wishes to clarify certain information disclosed in its news release of August 27, 2007. The Company is optimistic based on a multi well drilling program that the prospective resource contained in the Pandura lease block could be 20BCF of gas(1); however, there is no certainty that the prospective resource will be discovered. A prospective resource is defined as, "those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations. If discovered, they would be technically and economically viable to recover"(2).

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

(1) Estimate of prospective resources were compiled by Robert Berven, Executive Director - Technical for Emerald Oil & Gas NL, an Australian listed oil and gas exploration and production company. a member of the Australasian Institute of Mining and Metallurgy and the American Association of Petroleum Geologists with an effective date of February 1, 2005.

(2) Definition as set out in the COGE Handbook

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