DELTA PETROLEUM CORPORATION
Roger A. Parker, Chairman and CEO
John R. Wallace, President and COO
Kevin K. Nanke, Treasurer and CFO
Dave Donegan, VP Corporate Communications
370 Seventeenth Street, Suite 4300
Denver, Colorado 80202
DENVER, Colorado (August 22, 2006) -- Delta Petroleum Corporation (NASDAQ Global Market: DPTR), an independent energy exploration and development company (“Delta” or “the Company”), today reported that it has closed on the sale of its properties in the Appalachian Basin and the East Texas Basin. The combined proceeds of the two transactions totaled approximately $31.3 million. Production from the two property packages approximated 2 million cubic feet equivalents (Mmcfe) per day. Both of these transactions are consistent with the Company’s ongoing strategy to focus its activities in its operated core areas. The Company is exploring the possible sale of several other non-operated or non-core fields.
Delta Petroleum Corporation is an oil and gas exploration and development company based in Denver, Colorado. The Company’s core areas of operations include 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 Global Market 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. Readers are cautioned that all forward-looking statements are based on management’s present expectations, estimates and projections, but involve risks and uncertainty, including without limitation, uncertainties in the projection of future rates of production, unanticipated recovery or production problems, uncertainties as to the marketability and salability of our non-operated and non-core properties, difficulties in negotiating and successfully consummating transactions on acceptable terms, unanticipated results from wells being drilled or completed, the effects of delays in completion of gas gathering systems, pipelines and processing facilities, as well as general market conditions, competition and pricing. Please refer to the Company’s report on Form 10-KT for the period ended December 31, 2005 as filed with the Securities and Exchange Commission for additional information. The Company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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