HARPER&ASSOCIATES,INC.


CONSULTANTS
AT OIL AND GAS TECHNOLOGY


6815
MANHATTAN BLVD.


SUITE
201


FORT
WORTH, TEXAS 76120





G.
      MICHAEL HARPER
            (817)
      457-9555PRESIDENT
            (FAX)
      (817) 457-9569www.harper-associates.com
            m@harper-associates.com


March 11,
2010





Delta Oil
& Gas LLC


Attn: Mr.
Kulwant Sandher


604-700
West Pender Street


Vancouver,
BC V6C 1G8


Re:           SEC
Reserve Evaluation


Delta Oil & Gas LLC Interests


Oklahoma
State, US Properties


As of December 31,
2009





Dear Mr.
Sandher:





Petroleum reserves for certain
properties of Delta Oil & Gas LLC (“Delta”) were determined and economic
forecasts prepared for the working interests of Delta.  The properties
are operated by Ranken Energy Corp. (“Ranken”) and located in Garvin County,
Oklahoma.  Reserves are classified as proved developed producing (PDP)
and behind-pipe (PBP).  An independent geologic interpretation and
engineering analysis of data was conducted and reserve estimates and economics
determined under constant price and operating cost, re. US SEC
guidelines.





For the
evaluation, the table below summarizes net proved reserves and cumulative future
cash flow (before U.S. federal income tax), undiscounted and discounted at 10
percent per year.


RESERVE
SUMMARY


PROVED
            
            PDP
            
            
            PBP
            
            
            TOTALCompletions
            
            
            7
            
            
            
            5
            
            
            
            11Net
      Oil, Bbls.
            
            
            10,720
            
            
            
            11,510
            
            
            
            22,230Net
      Gas, MCF
            
            
            110,130
            
            
            
            6,810
            
            
            
            116,940Revenue
      ($)-Oil
            
            
            570,610
            
            
            
            613,630
            
            
            
            1,184,240Gas Sales
            
            
            559,130
            
            
            
            38,320
            
            
            
            597,440Total
            
            
            1,129,740
            
            
            
            650,950
            
            
            
            1,781,680Operating
      Expense ($)
            
            
            465,830
            
            
            
            111,560
            
            
            
            577,390Production
      Taxes ($)
            
            
            80,160
            
            
            
            46,260
            
            
            
            126,410Investments
      ($)
            
            
            
            
            
            
            15,250
            
            
            
            15,250Future
      Cum Net Income ($)
            
            
            583,760
            
            
            
            478,870
            
            
            
            1,062,630Future
      Cum Net Income
              @
      10% DF ($)
            
            
            350,390
            
            
            
            281,520
            
            
            
            631,920





Reserves
and economic results for each reserve class are attached, along with a one-line
summary.  Individual well reserves are presented herein.
























Price/Cost
Parameters.  Oil and gas revenue is based on the average of
2009 prices for each lease and are not escalated.  BTU content, fuel
and shrinkage for gas production and the quality of oil production are
considered.





Average
well expenses are based on the operating costs between January and December
2009.  Expenses are recurring monthly values including
G&A.  Operating expenses and investments are not
escalated.  Production severance and ad valorem taxes are deducted
from revenue.





ASSUMPTIONS




No consideration was given to possible
changes in operating conditions or actions of governmental regulatory agencies
affecting prices.  Interests were accepted as
represented.  Discount factors are calculated at mid-year, compounded
annually, and applied to yearly lump sum revenues, expenses and
investments.





DATA
ACQUISITION




Delta and Ranken provided well and
reserve information including pressure and production data through December
2009.  Additional production information was obtained on offset wells
completed in correlative geologic formations with similar production
performance.  During our analysis, we were given access to data as was
desired and consulted freely with Mr. James Huling, and the officers and
employees of Delta and Ranken.





An examination of the field facilities
and operating procedures was not conducted in view of the available data that we
had to assess and with our operational experience in Garvin County,
Oklahoma.  Data used in the preparation of the evaluation was obtained
from the records of the offset operators, public data, private evaluations,
Ranken and Delta.  Basic reservoir and geologic data together with
engineering work will be retained on file for review by authorized
personnel.





RESERVE
DEFINITIONS




The determination of the reserves is
based on a petroleum engineering evaluation, supported by an independent
geologic interpretation that involved direct and indirect characterization and
estimates of reservoir properties.  These properties are derived from
data available at the time of preparation.  One should not construe
that the reserve quantities are exact.  As additional data becomes
available or well operating conditions change, the likely condensate or gas
recovery of a reservoir may change, and consequently reserve quantities
change.





Reserve estimates compile with the
definitions of the U. S. Security Exchange Commission (“SEC”).  The
reserves and dollars reported herein are not determined for the following
purposes: 1) litigation, 2) loan basis, and 3) market value
estimate.





EVALUATOR




This evaluation was conducted and/or
supervised by Mr. Michael Harper, President.  He served on the Board
of Directors of the SPE for the term 1986-1989.  He has practiced
professional petroleum engineering for 36 years.  Before founding his
consulting firm, Harper spent five years involved in condensate and gas
evaluations, property appraisals and reservoir engineering with the firm of
CG&A, Inc.  His engineering studies involved United States and
International areas.  Previously, he had been with Placid Oil Company
for 10 years.  There Harper's experience included five years working
as senior reserve, production and reservoir engineer at the Placid headquarters
in Dallas, Texas.  Fields studied were inland, wetlands and offshore
in respective states of Alabama, Florida, Louisiana, Mississippi, New Mexico,
Oklahoma and Texas.  Overseas evaluations were prepared on geologic
features in the North and the Mediterranean Seas.  His five years of
experience, onshore and offshore, were spent in field supervision and the
engineering design of workovers and drilling wells.











Delta Oil
& Gas LLC
 SEC
Reserve Evaluation
 As Of
December 31, 2009
 March 11,
2010
 Page 3
of 3





Harper's education was at Louisiana
State University where he received Bachelor and Master of Science Degrees in
Petroleum Engineering.  Academic honor societies are Pi Epsilon Tau,
Tau Beta Pi and Phi Kappa Phi.  Professional engineering registrations
are in Texas and Louisiana.  Memberships in professional associations
at the local, state and national levels are the Society of Petroleum Engineers,
the American Association of Petroleum Geologists, Society of Petroleum
Evaluation Engineers and the Society of Petroleum Well Log
Analysts.  Evaluation courses and seminars include geologic
description of condensate and gas reservoirs, gas well performance and
appraisal, computer applications and 1979 through 2001 Symposiums on Hydrocarbon
Economics and Evaluation.  Mr. Harper was the 1996-1997 secretary of
the Petroleum Club in Fort Worth.  He currently serves as Chairman,
SPE Directors’ Club.




EVALUATORQUALIFICATIONS




I,
Michael Harper, a consulting Professional Petroleum Engineer, with an office at
6815 Manhattan Blvd. Ste 201, Fort Worth, Texas 76120, hereby
certify:





1.           That
I am President of Harper & Associates, Inc. and I did prepare this SEC
reserve report with corresponding economic values of Delta interests in the
leases.





2.           That
I graduated in Petroleum Engineering in 1966 with a Bachelor of Science degree
and Master of Science degree in 1968 from Louisiana State University at Baton
Rouge, Louisiana.  Academic honor societies are Pi Epsilon Tau, Tau
Beta Pi and Phi Kappa Phi.





3.           That
I am a registered Professional Engineer in Louisiana #13687 and Texas
#34481.  That I am a certified earth scientist - SIPES
#2861.  That I have thirty-two years experience in drilling,
production, reservoir studies and evaluations of Canada, Mediterranean, North
Sea and United States oil and gas fields.





4.           That
Memberships held in professional associations: the Society of Petroleum
Engineers (#070557); the American Association of Petroleum Geologists; the
Society of Petroleum Well Log Analysts; the Society of Petroleum Evaluation
Engineers; and the American Association of Drilling Engineers.  I
served on the National Board of Directors of the Society of Petroleum Engineers
for the term 1986-1989.  I served as National Director of the Society
of Petroleum Evaluation Engineers for the term 2000-2003.





5.           That
Principal or its employees in the firm have no direct or indirect interests, nor
do they expect to receive any direct or indirect interest in the oil and gas
properties reviewed nor do they have any direct or indirect interest in the
properties of Delta.





6.           That
I am an independent engineer contracted to review certain leases of Delta in
Oklahoma.





7.           That
I have no direct or indirect interests in the actual outcome from the reports
that have been prepared for Mr. James Huling.





Yours
very truly,






G.
Michael Harper, President


HARPER & ASSOCIATES,
INC.