Delphi Energy Corp.

TSX-V: DEE

November 26, 2013

Delphi Energy Corp. Reports Continued Success at Bigstone

CALGARY, ALBERTA � November 26, 2013 � Delphi Energy Corp. (�Delphi� or the �Company�) is pleased to provide the following operations update on its Montney capital program.

Delphi has completed and tested its fourth consecutive horizontal Montney well utilizing a 30 stage slickwater hybrid completion. The first three Montney wells at East Bigstone stimulated with the same 30 stage slickwater hybrid fracturing technique continue to exceed the Company�s type well expectations.

Delphi�s 100 percent working interest 15-30-60-23W5M Montney well was drilled to a total depth of 5,834 metres with a Company record horizontal lateral length of 3,014 metres. The well flowed on clean-up over 5.6 days, recovering approximately 27 percent of the initial load frac water and is now shut-in to equip and pipeline connect the well for production. After running production tubing, the well produced, over the final 24 hours, at an average rate of 9.4 million cubic feet per day (�mmcf/d�) of raw gas, 1,250 barrels per day (�bbls/d�) of wellhead condensate (133 bbls/mmcf of raw gas) and approximately 900 bbls/d of load frac water. For comparison purposes, Delphi�s best Montney producer to date, at 10-27-60-23 W5M, produced at an average rate of 8.8 mmcf/d of raw gas and approximately 750 bbls/d of wellhead condensate (85 bbls/mmcf of raw gas) over the final 24 hours of its 4.5 day clean-up test (previously press released on February 28, 2013). The 10-27 well has produced 286,000 boe (111,000 barrels of total natural gas liquids (�NGL�), 65 percent of which is field condensate) since coming on production in March 2013.

Total production for the 15-30 well over the final 24 hours of the 5.6 day clean-up flow, including additional estimated gas plant NGL recoveries of 33 bbls/mmcf of raw gas, was approximately 2,953 barrels of oil equivalent per day (�boe/d�), (53 percent field and plant NGL). The well is expected to commence production in December and consistent with the previous slickwater fracture stimulated wells will continue to recover load frac water over the next few months.

The 15-30 well was drilled across two sections in 30 days and set a record low Montney well cost for Delphi of $4.85 million. Drilling times for the Company�s Montney wells have decreased 35 percent and drilling costs have been reduced by 25 percent since the beginning of the Bigstone Montney program.

Drilling operations continue in East Bigstone with three gross (2.7 net) additional wells planned to be drilled prior to break-up in 2014.  

To view the full news release, please visit: http://www.delphienergy.ca/invest_news.htm

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