Daytona Energy Corporation

Daytona Energy Corporation

February 24, 2009 11:57 ET

Daytona Preparing to Complete First Well on North Sharon Prospect

CALGARY, ALBERTA--(Marketwire - Feb. 24, 2009) - Daytona Energy Corporation (TSX VENTURE:DTE) announces that drilling of the Block T Walker #1H well is finished and completion operations are under way. The Walker #1H reached total depth of 7,630 feet (4,620 feet true vertical depth) on December 8, 2008 and 5 1/2 inch casing was run to total depth on December 9, 2008. Since that time the operator has been building surface facilities and a pipeline prior to completing the well and initiating first production.

The Company will be paying 9% of the costs to drill and complete the Walker #1H to earn a 25.875% working interest in the project. On the pipeline and any future wells necessary to fully develop the project, Daytona will pay 25.875% of the costs.

The Company and its partners control 2,500 acres in the area of the prospect.

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.


Jim Breimayer President & CEO

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
    Daytona Energy Corporation
    Jim Breimayer
    President & CEO
    (903) 939-1380