Delphi Energy Corp
			Symbol			DEE
			Shares Issued			92,289,158
			Close 2009-10-19			C$ 1.60
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Delphi Energy increases ownership of Fairmount Energy

2009-10-20 10:00 ET - News Release

Mr. David Reid reports

DELPHI INCREASES OWNERSHIP OF FAIRMOUNT ENERGY INC. TO 79.0% AND CLOSES TAKE-OVER BID

An additional 544,730 common shares of Fairmount Energy Inc. were validly deposited at the expiry time of Delphi Energy Corp.'s previously announced offer to acquire all of the issued and outstanding common shares of Fairmount. Delphi has taken up all of the deposited common shares and intends to pay for such shares as soon as possible, but in any event no later than Thursday, Oct. 22, 2009. The offer has now expired and accordingly, after giving effect to the take-up and payment of the Fairmount common shares, Delphi will hold 12,915,916 Fairmount common shares representing approximately 79.0 per cent of the issued and outstanding common shares of Fairmount. Fairmount shareholders who tendered to the offer will receive 0.3571 of a Delphi common share for each Fairmount common share tendered.

Delphi intends to complete a subsequent acquisition transaction prior to the end of November, 2009. Under such transaction, the consideration payable per Fairmount common share will be the same as the consideration paid by Delphi per Fairmount common share under the offer. Fairmount has advised Delphi that it intends to mail an information circular to its shareholders in the coming weeks.

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