DELTA OIL & GAS INC

2 June 2006material agreement● NeutralMajor

Delta bought from Brinx Resources a 20% working interest in the Powell #2 well at the Owl Creek Prospect in Garvin and McClain Counties, Oklahoma, for $300,000 (paid in full). It also received options for 20% in future wells on the 1,120-acre prospect and on nearby land. The well is drilled and cased and being completed for testing, with Delta paying its share of completion costs.

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27 Feb 2006material agreement● NeutralMajor

Delta agreed to pay 0743608 B.C. Ltd. $425,000 within 14 days for its 10% working and revenue interest in a ten-well drilling program by Griffin & Griffin Exploration in Palmetto Point, Mississippi. Drilling is expected to start around April 1, 2006 and take about 10 months; well locations are not yet set. This adds a Mississippi program to Delta's Alberta and California interests.

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29 Sept 2005material agreement● NeutralMajor

Delta signed a farmout with Odin Capital Inc. of Calgary for Section 9, Township 38, Range 9W5M, Alberta, paying 4% of the Leduc formation test well costs to earn interests of up to 4% in Leduc natural gas and smaller interests in nearby sections. It must advance 110% of its costs, about $250,000 in total. Director Mr. Philipchuk owns an interest in Odin, so this is a related-party deal.

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26 May 2005material agreement● NeutralMajor

Delta signed a farmout deal with Production Specialties Company for land in Solano County, California. By paying 18.75% of the first test well's costs, Delta can acquire 12.5% of PSC's 68% interest, which would give it 8.5% of the property's revenue and a 12.5% share of later costs. This adds a California prospect to the Alberta interests acquired earlier in 2005.

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15 Feb 2005material agreement▲ GoodMajor

Through its Canadian subsidiary, Delta paid Win Energy Corporation for working interests in two Southern Alberta prospects: 20% of Todd Creek (13.75 sections) for $597,263 and 10% of Hillspring (one section) for $414,766. It also holds options on more land at each (Todd Creek to Dec 31, 2006; Hillspring to July 1, 2005). This is Delta's first oil and gas property acquisition described in these filings, and it follows the February 2005 share sale that raised $1.2 million.

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4 Feb 2005capital raising announcement▲ GoodMajor

Delta sold 1,200,000 units at $1.00 each to three non-US investors, raising $1,200,000. Each unit is one share plus a warrant to buy another share at $1.50 for five years; if all warrants are exercised, Delta would receive a further $1,800,000. This adds new shares (dilution for existing holders).

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