OilVoice - Delta Petroleum Announces Review of Strategic Alternatives

Delta Petroleum Announces Review of Strategic Alternatives

Monday, November 30, 2009

Delta Petroleum Corporation, an independent oil and gas exploration and development company, announced today that it has retained Morgan Stanley and Evercore Partners to evaluate and advise the Board of Directors on strategic alternatives to enhance shareholder value. This will include, but not be limited to, exploring the sale of some or all of the Company’s assets, partnerships and joint venture opportunities, and the sale of the entire Company.

There is no assurance that this review will result in Delta changing its business plan, pursuing any particular transaction, or, if it pursues any such transaction, that it will be completed. The Company does not expect to make further public comment regarding the review until the Board of Directors has approved a specific transaction or otherwise determines that disclosure of significant developments is appropriate.