SOURCE: Delta Oil & Gas, Inc.

October 18, 2007 15:00 ET

Delta Oil & Gas Announces New Discoveries at Garvin and Murray Counties, Oklahoma

SEATTLE, WA--(Marketwire - October 18, 2007) - Delta Oil and Gas, Inc. (OTCBB: DOIG) is pleased to announce that the operator of its Oklahoma properties has advised Delta that they will be setting production casing for three wells drilled as part of it "2006-03" drilling program with Ranken Energy. The three wells are as follows:

Meridian Prospect -- Elizabeth #1-25. This well reached a total depth of 6,475 feet on September 14, 2007. Based on all information gathered, the operator is in the process of setting production casing to further evaluate the possible productivity of the Dees and Viola formations through perforations.

Plaster Prospect -- Plaster #1-1. This well reached a total depth of 6,807 feet on September 10, 2007. Based on all information gathered, the operator is in the process of setting production casing to further evaluate the possible productivity of the Dees and Hunton formations through perforations.

Dale Prospect -- Dale #1 re-entry. This well has been re-completed and the operator has determined that this well requires further evaluation and testing to determine its potential productivity from the Viola and 1st Bromide Sands.

The initial wells drilled in the Crazy Horse and Linda prospects were deemed by the operator to not be commercially viable and as such, were plugged and abandoned.

Depending on the levels of productivity from these wells, the operator, Ranken Energy may propose the drilling of additional wells in the Dale Prospect and the Crazy Horse Prospect. Delta would participate in these wells to the same extent as in the original Drilling Program which is a 10% working interest.

We are pleased with the success resulting from this drilling program and look forward to adding additional cash from these wells to our existing cash flow from our previously drilled wells with Ranken Energy at Owl Creek, Oklahoma, namely the Powell #2 and the Isbill #2. We are also looking forward to the commencement of drilling on the Ranken Energy 2007-1 Drilling Program (previously announced on September 19, 2007) in which we have a 20% working interest.

About Delta Oil and Gas

Delta Oil and Gas is a growing exploration company focused on developing North American oil and natural gas reserves. The Company's current focus is on the exploration of its land portfolio comprised of working interests in highly prospective acreage in the Southern Alberta Foothills area, its interest in the Strachan Prospect, its interest in its Mississippi prospect, its interest in a horizontal drilling prospect in Saskatchewan and its various interests in Owl Creek, Garvin, McClain and Murray Counties, Oklahoma. Delta Oil & Gas is seeking to expand its portfolio to include additional interests in Canada and the USA.

On behalf of the Board of Directors,


Safe Harbor Statement

This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to time frames, expectations for completion; the analysis of results and the intention to drill. Actual outcomes and the Company's results could differ materially from those in such forward-looking statements. Factors that could cause results to differ materially include general factors that affect all companies that explore for oil and gas, such as the uncertainty of the requirements demanded by environmental agencies, the fact that oil and gas extraction and production is risky, the potential that no commercial quantities of gas are found or recoverable, the price of oil and gas, geological problems that prevent us from reaching drilling targets and specific risks such as the Company's ability to raise financing.

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