97 and still sharp as a tack<g>....
Patch news: Delta Petroleum Corporation Completes Acquisition of Louisiana Properties
DENVER--(BUSINESS WIRE)--Oct. 2, 2000--On September 29, 2000, Delta Petroleum Corporation ("Delta")(Nasdaq:DPTR)(Frankfurt Stock Exchange:DPE) completed the acquisition of 100% of the working interest in the West Delta Block 52 Unit, Plaquemines Parish, Louisiana from Castle Offshore LLC, a subsidiary of Castle Energy Corporation, and BWAB Limited Liability Company.
To complete the acquisition Delta paid $1,463,532 and issued 487,844 shares of its restricted common stock and assumed the plugging and abandonment liability for the properties.
Current production net to the interests acquired by Delta is approximately 230 barrels of oil equivalent per day. Independent engineering estimates project that the unit has approximately 1,140,000 recoverable barrels of oil with remaining net barrels to Delta's interest of approximately 853,400 barrels of oil equivalent.
Delta is an oil and gas exploration and development company based in Denver, Colorado. Delta has producing properties in Oklahoma's Anadarko Basin, Colorado's Piceance and D-J Basins, the Permian Basin in New Mexico and Texas, California's Sacramento Basin, South Texas, North Dakota, one producing federal unit and four undeveloped units located in federal waters offshore California. To request a copy of the Company's current Form 10-KSB and for further information contact the Company at 303/293-9133.
CONTACT:
Delta Petroleum Corporation, Denver
Aleron H. Larson, Jr., Chairman
Roger A. Parker, President
303/293-9133 |
