DELTA PETROLEUM CORPORATION
Roger A. Parker, President, CEO and Chairman
Kevin K. Nanke, CFO
Dave Donegan, VP Corporate Communications
370 Seventeenth Street, Suite 4300
Denver, Colorado 80202
DENVER, Colorado (September 27, 2005) -- Delta Petroleum Corporation (NASDAQ: DPTR); (FRANKFURT STOCK EXCHANGE: DPE), an independent energy exploration and development company, today announced the impact of the recent hurricanes on the Company’s activities.
The Company’s drilling and production activity was affected by hurricane Rita. On Thursday, September 22, 2005, in advance of the storm, Delta shut in production at its Newton Field in Newton County, Texas and a few other small fields nearby. The Newton Field is located approximately 70 miles north of the Texas coast where Rita made landfall. As of this morning we have completed an assessment of production facilities in the field and damage is minimal, however, the pipelines that transport the Company’s oil and gas production from the field are operated by electricity and are awaiting restoration of electrical service. We expect that oil and gas production will resume by the middle of next week. The Company expects to return to its drilling and completion activities in the field by October 1. Approximately 13 Mmcfe per day in gross production was shut in. Delta believes that there will be no long term impact to the Company’s production or reserves from the storm.
Delta Petroleum Corporation is an oil and gas exploration and development company based in Denver, Colorado. The Company’s core areas of operations are the Gulf Coast and Rocky Mountain Regions, which comprise the majority of its proved reserves, production and long term growth prospects. 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
SOURCE: Delta Petroleum Corporation