Delta Petroleum Corporation (“Delta”) is offering for sale its Austin Chalk oil and gas properties located in Polk and Tyler Counties, Texas. Tristone Capital (“Tristone”) has been retained to provide divestiture and technical advisory services. Ralph E. Davis Associates, Inc. has been retained to independently evaluate the reserves.

• Upper Austin Chalk development with a geographically-focused acreage position in the Double A Wells, N Field
• Significant operated position (9 operated units of 12 total)
• Proven horizontal drilling locations (4 wells with 5 laterals) directly off-setting production with one well currently drilling and one well to spud in 3rd quarter 2008
• Additional unquantified opportunities in the Midcox, Woodbine, Austin Chalk and Lower Cretaceous
• Balanced production mix with substantial current net production and cash flow of 8,823 MCFEPD and $3.9 MM/month, respectively
• 12 units comprising 12,479 gross and 7,200 net acres plus 939 term acres

Evaluation materials available late August 2008
Due to delays caused by Hurricane Ike in Houston, Data Rooms are open through October 3, 2008
NOTICE: Due to ongoing drilling activity on the Properties, the Bid Date has been moved from October 29, 2008 to December 11, 2008