DELTA PETROLEUM CORPORATION

Aleron H. Larson, Jr., Chairman

Roger A. Parker, President and CEO

Kevin K. Nanke, CFO

475 17th Street, Suite 1400

Denver, Colorado 80202

For Immediate Release

DELTA PETROLEUM CORPORATION ACQUIRES PRODUCTION AND DRILLING PROSPECTS IN COLORADO AND WYOMING

DENVER, Colorado (September 24, 2003) -- Delta Petroleum Corporation (NASDAQ: DPTR); (FRANKFURT STOCK EXCHANGE: DPE), an independent energy exploration and development company, today announced that it has acquired production and drilling prospects in Colorado and Wyoming.

The Company has acquired, from Edward Mike Davis LLC and Edward Mike Davis (“Davis”), operations and a 90% working interest in the producing Christianson Field and two other fields. The acquisition includes approximately 100,000 acres of prospect leases in Washington County, Colorado, and approximately 20,000 acres of prospect leases in Laramie County, Wyoming. The fields are currently producing approximately 500 barrels of oil per day net to Delta.

The consideration paid by Delta totaled $8 million and 1,000,000 shares of the Company’s common stock. Closing occurred on September 19, 2003, at which time Delta paid $2 million in cash and executed a short-term promissory note for $6 million that is due and payable on October 3, 2003. Delta is in the process of increasing its credit facility with its banks to provide the necessary funds to pay the promissory note on or before its maturity date.

“We intend to pursue an active drilling program on the prospect acreage based on information derived from an extensive 3-D seismic evaluation,” stated Roger A. Parker, President and Chief Executive Officer of Delta Petroleum Corporation. Davis has retained reversionary interests in the properties after agreed production totals have been achieved. Under certain circumstances specified in the purchase agreement, Delta will be obligated to issue additional shares of its common stock to Davis if any individual prospect produces in excess of one million barrels of oil equivalent.

“Although we will continue to pursue attractive acquisitions, management believes that shareholder value can be substantially enhanced through drilling activities, particularly in areas such as these, which exhibit the potential for significant reserve recoveries at low finding costs. Current plans call for Delta to be significantly more active in drilling operations during Fiscal 2004 than in prior years.”

Delta Petroleum Corporation is an oil and gas exploration and development company based in Denver, Colorado. The Company has producing properties in 14 states and interests in one producing federal unit and four undeveloped units located in federal waters offshore California near Santa Barbara. Its common stock is traded on NASDAQ under the symbol ``DPTR'' and on the Frankfurt Stock Exchange under the symbol ``DPE.''

Forward-looking statements in this announcement are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the costs of exploring and developing new oil and natural gas reserves, the price for which such reserves can be sold, environmental concerns effecting the drilling of oil and natural gas wells, as well as general market conditions, competition and pricing. Please refer to the Company’s Securities and Exchange Commission filings for additional information.

For further information contact the Company at (303) 293-9133 or via email at info@deltapetro.com

OR

RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or via email at info@rjfalkner.com