Daytona Preparing to Complete First Well on North Sharon Prospect

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Clavis

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Daytona Preparing to Complete First Well on North Sharon Prospect

posted on Feb 24, 2009 07:35AM

February 24, 2009

Daytona Preparing to Complete First Well on North Sharon Prospect

CALGARY, ALBERTA--(Marketwire - Feb. 24, 2009) - Daytona Energy Corporation (TSX VENTURE:DTE) announces that drilling of the Block T Walker #1H well is finished and completion operations are under way. The Walker #1H reached total depth of 7,630 feet (4,620 feet true vertical depth) on December 8, 2008 and 5 1/2 inch casing was run to total depth on December 9, 2008. Since that time the operator has been building surface facilities and a pipeline prior to completing the well and initiating first production.

The Company will be paying 9% of the costs to drill and complete the Walker #1H to earn a 25.875% working interest in the project. On the pipeline and any future wells necessary to fully develop the project, Daytona will pay 25.875% of the costs.

The Company and its partners control 2,500 acres in the area of the prospect.

Daytona is an oil and gas exploration/development company, focused on gas exploration in Alberta, Canada and the Gulf Coast region of the United States.

ON BEHALF OF THE BOARD OF DIRECTORS OF DAYTONA ENERGY CORPORATION

Jim Breimayer President & CEO

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