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DALECO RESOURCES SUBSIDIARY SUCCESSFULLY COMPLETES WELL

 LOS ANGELES, Sept. 15 /PRNewswire/ -- Daleco Resources Corporation (NASDAQ: DLOVF; VSE: DLO) announced today that its wholly owned subsidiary, Westlands Resources Corporation, has successfully completed its eighth horizontal well in the Upper Texas Gulf area. The DRC-V well No. 1, located in the Tunis area of Burleson County, Texas, was drilled to a measured depth of 11,216 feet, including a horizontal displacement of 2,999 ft. The well was completed flowing at an initial production of 525 barrels of oil and 2,500 Mcf of gas per day on a 40/64-inch choke with 525 psi flowing tubing pressure. The company owns a 42 percent working interest and 30.75 percent net revenue interest in this well.
 Westlands Resources Corporation, the subsidiary, owns several additional proved drill sites in the same area as a number of existing vertical wells located in Burleson County which are suitable for reentry horizontal drilling. The company intends to continue an aggressive development drilling program on its Texas and Mississippi properties as well as pursue the acquisition of additional proven oil and gas properties.
 Daleco Resources is an independent natural resources company conducting oil and gas exploration and development activities in the Texas Upper Gulf area and Mississippi.
 NOTE: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
 -0- 9/15/93
 /CONTACT: Dov Amir of Daleco Resources Corporation, 310-282-9999, or Howard Bronson of Howard Bronson & Company, Inc., 212-867-6160/
 (DLOVF)


CO: Daleco Resources Corporation ST: California IN: OIL SU:

LG-OS -- NY060 -- 2316 09/15/93 14:42 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
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