2008-10-21-2008-02-28-2008-02-28

Purchased 95% WI in 18,250 gross acres in Vega area of Piceance Basin.

Delta Petroleum Corp., Denver, (Nasdaq: DPTR) has acquired interests in the Vega area of the Piceance Basin of western Colorado from EnCana Oil & Gas (USA) Inc. for $410.5 million. Delta acquired 95% of EnCana's interests in certain leases and wells and 100% of EnCana's interests in wellbores and production from other wells. The assets include 1,700 drilling locations on approximately 18,250 gross acres with a 95% working interest, increasing Delta's working interest in the North Vega project leasehold to 95% from an average 50%. An additional 4,300 acres are in the Buzzard Creek federal unit and approximately 6,000 are adjacent to the Buzzard Creek unit. Delta chairman and chief executive Roger Parker says, "This transaction more than doubles our position and drilling inventory in the southern Piceance Basin in one large contiguous acreage block. As previously demonstrated, we have significantly improved our drilling and operational efficiencies in the Vega area thereby substantially enhancing our financial performance in the Piceance Basin…Most importantly, this agreement provides Delta a significant drilling inventory for predictable, repeatable production and proved reserves per-share growth for years to come." The effective date is March 1.