Doe Creek Light Oil Program

• Delphi has drilled 12 horizontal wells in the last 18 months
• Multiple pools are being developed
• In Q3 2011, 2 horizontal wells (1.4 net) targeted light oil in the Doe Creek formation, both have been brought on production

Horizontal Falher Development

• Large “in-place” hydrocarbon volumes
• Zones produce from conventional vertical wells
• The 2011/2012 winter program was kicked off with the drilling of a horizontal Falher well
• A vertical well (1.0 net) was drilled in Q3 2011 to further evaluate natural gas potential

Nikanassin and Cretaceous Natural Gas Program

• Based on electric logs, the well has several potential gas zones and initial completion operations are ongoing in the Nikanassin interval
• Delphi has a feasibility study to upgrade the NGL recovery process at its Hythe area gas processing facility. It is anticipated that the liquids recovery will increase NGL production from five barrels per million cubic feet to 20 to 25 barrels per million cubic feet