DELTA PETROLEUM CORPORATION
Roger A. Parker, CEO and Chairman
Kevin K. Nanke, Treasurer and CFO
Dave Donegan, VP Corporate Communications
370 Seventeenth Street, Suite 4300
Denver, Colorado 80202
DENVER, Colorado (May 1, 2006) -- Delta Petroleum Corporation (NasdaqNMS: DPTR); an independent energy exploration and development company, today announced the completion of the merger with Castle Energy Corporation (“Castle”).
On April 28, 2006, Castle shareholders approved the merger between Castle and a subsidiary of Delta as announced on November 8, 2005. The merger resulted in Delta’s acquisition of Castle, which held 6,700,000 shares of Delta, and the issuance of 8,500,000 shares of Delta’s common stock to Castle’s stockholders, for a net issuance of 1,800,000 shares of Delta common stock. Castle also had additional assets of approximately $40.0 million which are comprised of cash, producing oil and gas properties located in Pennsylvania and West Virginia, and certain other assets.
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 the NASDAQ National Market System under the symbol “DPTR.”
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