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 (November 9, 2005) -- Delta Petroleum Corporation (NASDAQ: DPTR), an independent energy exploration and development company, today provided production guidance for the quarter ending December 31, 2005. The Company provides the following guidance for production based on information available at the time of this release and undertakes no duty to update this information. The guidance amounts do not include production that may result from acquisitions. Please see the forward-looking statement disclosure at the end of this announcement for a discussion of the inherent limitations of and risks related to these forward-looking statements.
Quarter Ending
December 31, 2005
Production:
Natural Gas Equivalent (Bcfe) 4.1 to 4.3
As discussed in the quarterly earnings conference call held on November 8, 2005, seventeen (17) wells are currently being drilled or awaiting completion. These wells are expected to add 15 to 20 million cubic feet equivalents (Mmcfe) per day of additional production and will contribute to an anticipated production exit rate at the end of the quarter in excess of 56 Mmcfe per day.
It is not the Company’s policy to give proved reserve guidance, however, on the earnings conference call on November 8 the Company did state that it expects proved reserve growth of 20% to 25% by calendar year end.
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”.
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 significant risks and uncertainties, including without limitation, the costs of exploring and developing new oil and natural gas reserves, the success of our drilling efforts and the timing of achieving production, the price for which our 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
SOURCE: Delta Petroleum Corporation