Delta Petroleum Corp.

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Delta Petroleum Corp., Denver, (Nasdaq: DPTR) has retained Merrill Lynch & Co. and J.P. Morgan to seek a joint-venture partner or buyer for partial interest in the Piceance Basin of Colorado. Delta holds approximately 2.5 trillion cubic feet equivalent of recoverable natural gas reserves in the basin Delta chairman and chief executive Roger Parker says, "We believe our current share price does not reflect our high-quality asset base, particularly our gas-development position in the low-risk Piceance Basin in spite of current market conditions. Our exploration of options and alternatives for our Piceance assets is a reaction to the market's failure to reasonably value these properties, which are in an area where Delta has a track record of significant proved reserve and production growth over the past few years and especially in 2008."