VANCOUVER, Oct. 22, 2019 /CNW/ - This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an Early Warning Report regarding the acquisition of common shares of Delphi Energy Corp. (the "Corporation"), an Alberta corporation with its securities trading on the Toronto Stock Exchange under the symbol "DEE" and having a head office located at 333 – 7^th Avenue SW #2300, Calgary, Alberta, T2P 2Z1.

On October 21, 2019, Luminus Delphi Holdings II Ltd. ("Luminus"), of 2200 HSBC Building, 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8, acquired 43,194,030 common shares of the Corporation.  The acquisition was completed in a private transaction pursuant to a share purchase agreement dated October 21, 2019 between Luminus and an affiliate of Luminus, Luminus Energy Partners Master Fund, Ltd.

Immediately prior to the acquisition, Luminus held, directly or indirectly, or exercised control or direction over, nil (0%) common shares of the Corporation. After giving effect to the acquisition, Luminus acquired ownership over an aggregate 43,194,030 common shares of the Corporation, representing approximately 23.28% of the Corporation's issued and outstanding common shares.

The purchase and sale of the subject common shares did not give rise to a change in beneficial ownership of same, as Luminus and Luminus Energy Partners Master Fund, Ltd. share the same ultimate beneficial owners.

Luminus acquired the securities for investment purposes. Luminus may acquire or dispose of additional securities of the Corporation in the future through the market, privately, or otherwise, as circumstances or market conditions warrant.

A copy of the Early Warning Report disclosing the transaction can be obtained on the Corporation's SEDAR profile at www.sedar.com or from Luminus c/o 1700 Broadway, 26^th Floor, New York , NY, 10019 or phone: Michael Peng at (212) 424-2848.

SOURCE Luminus Delphi Holdings II Ltd.

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