Notwithstanding a halt caused by the Moomba gas explosion on New Year’s Day, Graeme Foley and David Libling bought the ExxonMobil subsidiary last year for an estimated $650 million.

For their troubles the partners acquired 21% of the Cooper/Eromanga Basin including over 1000 individual oil wells, 300 gas fields, 80 oilfields and two gas and liquids processing plants.

Now Delhi managing director Foley will join a host of oil, gas and coal bed methane explorers and producers presenting at the conference in September.

Delhi also attracted a lot of attention last week after announcing plans to raise $250 million through a hybrid financial offering. The hybrids will be issued by the Westpac managed investment vehicle Australian Energy Income Fund, but if converted will become equity in Delhi. Market sources suggest that despite an 11% yield the declining fortunes of the Cooper Basin have made it a challenge filling the offer.

In 2003, Delhi Petroleum’s average production was approximately 27 thousand oil equivalent barrels per day.

The Good Oil Conference will be held on Wednesday the 1st and 2nd of September at the Esplanade Hotel Fremantle, WA. For more details go to www.riuconferences.com.au