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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (2234)	6/15/2003 11:50:38 AM
From: Ken W	Respond to of 23958

Sergio DPTR: The acquisition will include 22 wells that are currently producing approximately 950 barrels of oil and 500 Mcf of gas per day. The average working interest being acquired is approximately 97% with an average 79% net revenue interest. Delta estimates the total proved reserves to be approximately 1.65 million barrels of oil equivalent with most of the proved reserves already producing. "We believe additional reserve potential exists and will undertake drilling activities to delineate and expand the size of the known reservoirs," commented Roger Parker, Chief Executive Officer of Delta Petroleum Corporation. "Also, numerous behind pipe zones exist throughout several of the reservoirs, and we believe secondary recovery could significantly increase future recovery. Upon completion of the purchase of the Padgett Field properties, Delta's net production will be approximately 21,000 Mcf equivalent per day," concluded Parker. Aw expansionism at its best. Buying already proven interests in producing fields kinda takes the risk out of the picture. <GGGGGGGG> Ken