Dear Sir Canadian River Project in Production The Company...

Dear Sir
Canadian River Project in Production
The Company (Delecta; ASX code DLC) is pleased to announcement that the Wise 1-25
oil and gas well in Oklahoma, USA, has commenced production. The salt water disposal
well (SWDW) has been successfully drilled and completed, fully permitted for water
disposal and is now completely operational.
The Wise 1-25 is producing from the Viola formation and is naturally flowing. The
operator is slowly opening the choke with the anticipation that the well will eventually
quit flowing allowing them to retrieve the bridge plug (between the Viola and Wilcox
formations), after which an electric submersible pump will be installed and production
will commence from both the Viola and Wilcox formations.
The Company will advise when the Wilcox formation adds to the production and will
report flow rates from the well when consistent reliable production rates are available.
Delecta has an 80% working interest and a 58% net revenue interest in the Wise 1-25
well. The interest in the well and the right to participant in additional wells as part of the
Canadian River Project, is subject to an option to sell to Paynes Find Gold Limited (ASX
code PNE). Shareholders of both Companies have approved the transaction and
completion is subject to Paynes Find Gold Limited raising a minimum of $4 million.
Regards
Malcolm Day​

Managing