SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
December 1, 1999
DELTA PETROLEUM CORPORATION
(Exact name of registrant as specified in its charter)
Colorado 0-16203 84-1060803
(State of Commission (I.R.S. Employer
Incorporation) File No. Identification No.)
Suite 3310
555 17th Street
Denver, Colorado 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 293-9133
This report on Form 8-K/A amends and supplements a
report on Form 8-K filed by Delta Petroleum Corporation ("Delta"
or "the Company") on December 1, 1999 in connection with the
acquisition of interests in the offshore California Point
Arguello Unit, with its three producing platforms and related
facilities, and in the adjacent undeveloped Rocky Point Unit from
Whiting Petroleum Corporation ("Whiting Properties").
ITEM 7. FINANCIAL STATEMENTS AND EXHIBIT.
(A) Audited Statement of Oil and Gas Revenue and Direct Lease
Operating Expenses of the Whiting Properties for the year ended
June 30, 1999 and the nine month period ended June 30, 1998.
(B) Condensed pro forma combined financial statements of Delta
Petroleum Corporation at September 30, 1999 and for the three
months then ended, and for the year ended June 30, 1999.
(C) Exhibit
(23.1) Consent of independent auditors
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
DELTA PETROLEUM CORPORATION
(Registrant)
Date: February 14, 2000 By: s/Aleron H. Larson,Jr.
Aleron H. Larson, Jr.
Chairman/C.E.O.
INDEPENDENT AUDITORS' REPORT
THE BOARD OF DIRECTORS
WHITING PETROLEUM CORPORATION
We have audited the accompanying statement of oil and gas
revenue and direct lease operating expenses of oil and gas
properties ("the Whiting Properties") of Whiting Petroleum
Corporation ("Whiting") acquired by Delta Petroleum Corporation
for the year ended June 30, 1999 and the nine month period ended
June 30, 1998. This financial statement is the responsibility of
Whiting's management. Our responsibility is to express an
opinion on this financial statement based on our audits.
We conducted our audits in accordance with generally
accepted auditing standards. Those standards require that we
plan and perform the audit to obtain reasonable assurance about
whether the statement of oil and gas revenue and direct lease
operating expenses is free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the statement of oil and gas revenue
and direct lease operating expenses. An audit also includes
assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
The accompanying statement of oil and gas revenue and direct
lease operating expenses was prepared for the purpose of
complying with the rules and regulations of the Securities and
Exchange Commission. Full historical financial statements,
including general and administrative expenses and other indirect
expenses, have not been presented as management of the Whiting
Properties cannot make a practicable determination of the portion
of their general and administrative expenses or other indirect
expenses which are attributable to the Whiting Properties.
In our opinion, the statement of oil and gas revenue and
direct lease operating expenses referred to above presents
fairly, in all material respects, the oil and gas revenue and
direct lease operating expenses of the Whiting Properties as
described in Note 1 for the year ended June 30, 1999 and the nine
month period ended June 30, 1998, in conformity with generally
accepted accounting principles.
KPMG LLP
February 7, 2000
Denver, Colorado
WHITING PROPERTIES
STATEMENT OF OIL AND GAS REVENUE
AND DIRECT LEASE OPERATING EXPENSES
Three Nine
Months Year Months
Ended Ended Ended
September 30, June 30, June 30,
1999 1999 1998
(unaudited)
Operating Revenue
Sales of condensate $903,646 3,084,165 3,174,108
Direct Lease Operating
Expenses 800,776 3,341,406 4,681,593
Net Operating
Revenue (loss) $102,870 (257,241) (1,507,485)
See accompanying notes to financial statements.
NOTES TO WHITING PROPERTIES STATEMENT OF
OIL AND GAS REVENUE AND DIRECT LEASE OPERATING EXPENSES
FOR THE YEAR ENDED JUNE 30, 1999 AND THE NINE MONTHS ENDED
JUNE 30, 1998
1) PURCHASE OF OIL AND GAS PROPERTIES AND BASIS OF
PRESENTATIONS
The accompanying financial statement presents the revenues
and direct lease operating expenses of certain oil and gas
properties of Whiting Petroleum Corporation (the "Whiting
Properties") for the year ended June 30, 1999 and the nine months
ended June 30, 1998. The properties consist of working interests
in the offshore California Point Arguello Unit, with its three
producing platforms and related facilities, and in the adjacent
undeveloped Rocky Point Unit.
The accompanying statement of oil and gas revenue and direct
lease operating expenses of the Whiting Properties was prepared
to comply with certain rules and regulations of the Securities
and Exchange Commission. Full historical financial statements
including general and administrative expenses, depreciation and
amortization and other indirect expenses, have not been presented
as management of the Whiting Properties cannot make a practicable
determination of the portion of their general and administrative
expenses or other indirect expenses which are attributable to the
Whiting Properties. Accordingly these financial statements are
not indicative of the operating results, subsequent to the
acquisition.
Revenue in the accompanying statement of oil and gas revenue
and direct lease operating expenses is recognized on the sales
method.
Direct operating expenses are recognized on the accrual
basis and consist of all costs incurred in producing, in the
property and distributing products produced by the property as
well as production taxes and monthly administrative overhead
costs.
2) SUPPLEMENTAL FINANCIAL DATA -OIL AND GAS PRODUCING
ACTIVITIES (UNAUDITED)
The following unaudited information has been prepared in
accordance with Statement of Financial Accounting Standards No.
69, DISCLOSURE ABOUT OIL AND GAS PRODUCING ACTIVITIES (SFAS 69).
A) ESTIMATED PROVED OIL AND GAS RESERVES
Proved oil and gas reserves are the estimated quantities of
crude oil, natural gas, and natural gas liquids which geological
and engineering data demonstrate with reasonable certainty to be
recoverable in future years from known reservoirs under existing
economic and operating conditions, i.e., prices and costs as of
the date the estimate is made. Prices include consideration of
changes in existing prices provided only by contractual
arrangements, but not on escalations based upon future
conditions.
(i) Reservoirs are considered proved if economic
producibility is supported by either actual production or
conclusive formation test. The area of a reservoir
considered proved includes (A) that portion delineated by
drilling and defined by gas-oil and/or oil-water contacts,
if any; and (B) the immediately adjoining portions not yet
drilled, but which can be reasonably judged as economically
productive on the basis of available geological and
engineering data. In the absence of information on fluid
contacts, the lowest known structural occurrence of
hydrocarbons controls the lower proved limit of the
reservoir.
(ii) Reserves which can be produced economically through
application of improved recovery techniques (such as fluid
injection) are included in the "proved" classification when
successful testing by a pilot project, or the operation of
an installed program in the reservoir, provides support for
the engineering analysis on which the project or program was
based.
(iii) Estimates of proved reserves do not include the
following: (A) oil that may become available from known
reservoirs but is classified separately as "indicated
additional reserves"; (B) crude oil, natural gas, and
natural gas liquids, the recovery of which is subject to
reasonable doubt because of uncertainty as to geology,
reservoir characteristics, or economic factors; (C) crude
oil, natural gas, and natural gas liquids, that may occur in
underlaid prospects; and (D) crude oil, natural gas, and
natural gas liquids, that may be recovered from oil shales,
coal, gilsonite and other such sources.
Proved undeveloped oil and gas reserves are reserves that
are expected to be recovered from new wells on undrilled acreage,
or from existing wells where a relatively major expenditure is
required for recompletion. Reserves on undrilled acreage shall
be limited to those drilling units offsetting productive units
that are reasonably certain of production when drilled. Proved
reserves for other undrilled units can be claimed only where it
can be demonstrated with certainty that there is continuity of
production from the existing productive formation. Under no
circumstances should estimates for proved undeveloped reserves be
attributable to any acreage for which an application of fluid
injection or other improved recovery technique is contemplated,
unless such techniques have been proved effective by actual tests
in the area and in the same reservoir.
An estimate of proved future net recoverable oil and gas
reserves of the Whiting Properties and changes therein follows.
Such estimates are inherently imprecise and may be subject to
substantial revisions.
Oil and
Condensate
(Bbls)
Balance at October 1, 1997 2,482,079
Production (346,134)
Balance at June 30, 1998 2,135,945
Production (412,002)
Balance at June 30, 1999 1,723,943
Proved developed:
October 1, 1997 1,554,957
June 30, 1998 1,208,823
June 30, 1999 796,821
B) STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH
FLOWS
The standard measure of discounted future net cash flows has
been calculated in accordance with the provisions of SFAS No. 69.
Future oil and gas sales and production and development
costs have been estimated using prices and costs in effect at the
end of the years indicated. Future income tax expenses have not
been considered, as the properties are not a tax paying entity.
Future general and administrative and interest expenses have also
not been considered.
Changes in the demand for oil and natural gas, inflation,
and other factors make such estimates inherently imprecise and
subject to substantial revision. This table should not be
construed to be an estimate of the current market value of the
proved reserves. The standardized measure of discounted future
net cash flows as of June 30, 1999 is as follows:
1999
Future oil and gas sales $19,842,595
Future production and development costs (13,330,199)
Future net revenue 6,512,396
10% annual discount for estimated
timing of cash flows (1,479,049)
Standardized measure of discounted
future net cash flows $ 5,033,347
As of June 30, 1998 the standardized measure of discounted
future net cash flows was zero due to the oil and gas prices
prevailing at July 1, 1998.
C) CHANGES IN STANDARDIZED MEASURE OF DISCOUNTED FUTURE
NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES
An analysis of the changes in the total standardized measure
of discounted future net cash flows during each of the last year
is as follows:
1999
Beginning of year $ -
Changes resulting from:
Sales of oil and gas, net of production costs 257,241
Changes in prices and other 4,776,106
End of year $5,033,347
As of June 30, 1998 the standardized measure of discounted
future net cash flows was zero due to the oil and gas prices
prevailing at July 1, 1998. The standardized measure of
discounted future net cash flows utilize the providing oil prices
at the measurement dates of $11.51, $5.85 and $8.74 for the June
30, 1999, 1998 and 1997, respectively.
DELTA PETROLEUM CORPORATION
CONDENSED PRO FORMA COMBINED FINANCIAL STATEMENTS
On December 1, 1999, Delta Petroleum Corporation ("Delta" or
"the Company") purchased interests in the offshore California
Point Arguello Unit, with its three producing platforms and
related facilities, and in the adjacent undeveloped Rocky Point
Unit from Whiting Petroleum Corporation ("Whiting Properties
Offshore") for a purchase price of approximately $6,758,550
consisting of $5,625,000 in cash and the issuance of 500,000
shares of the Company's common stock with a fair market value of
$1,133,550. The acquisition was financed through a borrowing
from an unrelated entity at an interest rate of prime plus 1.5%
per annum and the issuance of 250,000 options to purchase the
Company's common stock at $2 per share.
On November 1, 1999, Delta purchased interests in 11
producing wells and associated acreage in New Mexico and Texas
from Whiting Petroleum Corporation ("Whiting Properties Onshore")
for a purchase price of approximately $2,880,000 financed through
borrowings from an unrelated entity at an interest rate of 18%
per annum.
Both the December 1, 1999 and November 1, 1999 combined
acquisitions from Whiting Petroleum Corporation are referred as
("Whiting Properties").
The following unaudited condensed pro forma combined balance
sheet assumes that the acquisition of the Whiting Properties
occurred on September 30, 1999 and reflects the historical
consolidated balance sheet of Delta giving pro forma effect to
the transactions using the purchase method of accounting. The
unaudited condensed pro forma combined balance sheet should be
read in conjunction with the historical statements and related
notes of the Company.
The following unaudited condensed pro forma combined
statement of operations for the three months ended September 30,
1999 and for the year ended June 30, 1999 assumes the acquisition
of the Whiting Properties occurred on July 1, 1998. No general
and administrative or other indirect costs related to the Whiting
Properties have been reflected in the historical results of the
Whiting Properties nor have they been reflected in proforma
adjustments as it is not practical to allocate such costs for the
historical statements or estimate such costs for proforma
purposes. The pro forma results of operations are not
necessarily indicative of the results of operations that would
actually have been attained if the transaction had occurred as of
this date. These statements should be read in conjunction with
the historical financial statements and related notes of the
Company and the Statement of Oil and Gas Revenue and Direct
Operating Expenses of the Whiting Properties included herein.
DELTA PETROLEUM CORPORATION
Unaudited Condensed Pro Forma Combined Balance Sheet
As of September 30, 1999
<TABLE>
Whiting Whiting
Petroleum - Petroleum -
Onshore Offshore
Pro Forma Pro Forma
Delta Adjustments Adjustments Pro Forma
Historical (Note B) (Note B) Delta
<S> <C> <C> <C> <C>
Current Assets:
Cash $ 39,560 39,560
Trade accounts receivable 257,171 257,171
Other current assets 10,900 57,800(3) 68,700
Total current assets 307,631 - 57,800 365,431
Property and Equipment:
Oil and gas properties,
at cost, using
the successful efforts
method of accounting 10,861,712 2,880,000(1) 5,558,550(1) 19,300,262
Less accumulated depreciation
and depletion (1,684,862) (1,684,862)
Net property and equipment 9,176,850 2,880,000 5,558,550 17,615,400
Long term assets:
Other long term assets 257,338 202,400(3) 1,459,738
1,200,000(1)
Deposit on purchase of oil
and gas properties 3,919,800 (3,919,800)(1) -
Total long term assets 4,177,138 - (2,517,400) 1,659,738
$ 13,661,619 2,880,000 3,098,950 19,640,569
Current Liabilities:
Accounts payable $ 410,584 410,584
Other accrued liabilities 208,964 208,964
Current portion of long-term debt 360,425 2,880,000(1) (1,215,000)(2) 2,025,425
Total current liabilities 979,973 2,880,000 (1,215,000) 2,644,973
Long-term debt 2,679,575 8,000,000(2) 6,519,575
(4,160,000)(2)
2,679,575 - 3,840,000 6,519,575
Stockholders' Equity:
Preferred stock, $.10 par value - -
Common stock, $.01 par value 66,539 1,000(1) 67,539
Additional paid-in capital 30,190,800 260,200(3) 30,663,750
212,750(1)
Accumulated other comprehensive loss (148,332) (148,332)
Accumulated deficit (20,106,936) (20,106,936)
Total stockholders' equity 10,002,071 - 473,950 10,476,021
$ 13,661,619 2,880,000 3,098,950 19,640,569
</TABLE>
See accompanying notes to condensed pro forma combined financial statements.
DELTA PETROLEUM CORPORATION
Unaudited Condensed Pro Forma Combined Statement of Operations
Three Months Ended September 30, 1999
<TABLE>
Whiting Whiting
Properties Properties
Onshore Offshore
Whiting Whiting Pro Forma Pro Forma
Delta Properties Properties Adjustments Adjustments Pro Forma
Historical Onshore Offshore (Note C) (Note C) Delta
Revenue:
<S> <C> <C> <C> <C> <C> <C>
Oil and gas sales,
including plant products $ 116,540 254,932 903,646 - - 1,275,118
Other revenue 30,288 - - - - 30,288
Total revenue 146,828 254,932 903,646 - - 1,305,406
Operating expenses:
Lease operating expenses 39,147 66,339 800,776 906,262
Depreciation and depletion 34,634 - - 64,224(1) 218,200(1) 317,058
Exploration expenses 45 - - 415
Abandoned and impaired
properties 1,114 - - 1,114
General and administrative 380,083 - - 380,083
Stock option expense 109,986 - - 109,986
Total operating expenses 565,379 66,339 800,776 64,224 218,200 1,714,918
Income (loss) from operations (418,551) 188,593 102,870 (64,224) (218,200) (409,512)
Other income and expenses:
Interest expense (107,475) - - (129,600)(2) (190,000)(2) (427,075)
Financing expense - - - (14,450)(3) (14,450)
Loss on sale of securities
available for sale (2,551) - - (2,551)
Total other income and
expenses (110,026) - - (129,600) (204,450) (444,076)
Net income (loss) $ (528,577) 188,593 102,870 (193,824) (422,650) (853,588)
Basic and diluted loss
per common share $ (0.08) (0.13)
Weighted average number
of common shares outstanding 6,574,445 100,000 6,674,445
</TABLE>
See accompanying notes to condensed pro forma combined financial statements.
DELTA PETROLEUM CORPORATION
Unaudited Condensed Pro Forma Combined Statement of Operations
Year Ended June 30, 1999
<TABLE>
Whiting Whiting
Properties Properties
Onshore Offshore
Whiting Whiting Pro Forma Pro Forma
Delta Properties Properties Adjustments Adjustments Pro Forma
Historical Onshore Offshore (Note C) (Note C) Delta
Revenue:
<S> <C> <C> <C> <C> <C> <C>
Oil and gas sales,
including plant products $ 557,503 772,621 3,084,165 4,414,289
Gain on sale of oil and
gas properties 957,147 - - 957,147
Other revenue 203,001 - - 203,001
Total revenue 1,717,651 772,621 3,084,165 - - 5,574,437
Operating expenses:
Lease operating expenses 209,438 250,373 3,341,406 3,801,217
Depreciation and depletion 229,292 - - 243,936(1) 795,700(1) 1,268,928
Exploration expenses 74,670 - - 74,670
Abandoned and impaired
properties 273,041 - - 273,041
Dry hole costs 226,084 - - 226,084
General and administrative 1,506,683 - - 1,506,683
Stock option expense 2,080,923 - - 2,080,923
Total operating expenses 4,600,131 250,373 3,341,406 243,936 795,700 9,231,546
Income (loss) from operations (2,882,480) 522,248 (257,241) (243,936) (795,700) (3,657,109)
Other income and expenses:
Interest expense (19,726) - - (518,400)(2) (760,000)(2) (1,298,126)
Financing expense - - - (57,800)(3) (57,800)
Loss on sale of securities
available for sale (96,553) - - (96,553)
Total other income and
expenses (116,279) - - (518,400) (817,800) (1,452,479)
Net income (loss) $ (2,998,759) 522,248 (257,241) (762,336) (1,613,500) (5,109,588)
Basic and diluted loss
per common share $ (0.51) (0.84)
Weighted average number
of common shares outstanding 5,854,758 200,000 6,054,758
</TABLE>
See accompanying notes to condensed pro forma combined financial statements.
NOTES TO CONDENSED PRO FORMA COMBINED
FINANCIAL STATEMENTS SEPTEMBER 30, 1999 (UNAUDITED)
A) BASIS OF PRESENTATION
The accompanying unaudited condensed pro forma combined
balance sheet assumes that both the December 1, 1999 and November
1, 1999 combined acquisitions from Whiting Petroleum Corporation
are referred as ("Whiting Properties") occurred on September 30,
1999 and reflects the historical consolidated balance sheet of
Delta at that date giving pro forma effect to the transaction
using the purchase method of accounting. The unaudited condensed
pro forma combined balance sheet should be read in conjunction
with the historical statements and related notes of Delta.
The accompanying unaudited condensed pro forma combined
statements of operations for the three months ended September 30,
1999 and for the year ended June 30, 1999 assume that the
acquisition of the Whiting Properties occurred as of July 1,
1998. No general and administrative or other indirect costs
related to the Whiting Properties have been reflected in the
historical results of the Whiting Properties nor have they been
reflected in proforma adjustments as it is not practical to
allocate such costs for the historical statements or estimate
such costs for proforma purposes. The pro forma results of
operations are not necessarily indicative of the results of
operations that would actual have been attained if the
transactions had occurred as of this date. These statements
should be read in conjunction with the historical financial
statements and related notes of Delta and the Statement of
Revenue and Direct Operating Expenses of the Whiting Properties
included herein.
B) ACQUISITION OF WHITING PROPERTIES - BALANCE SHEET
On December 1, 1999, Delta Petroleum Corporation ("Delta"
or "the Company") purchased interests in the offshore California
Point Arguello Unit, with its three producing platforms and
related facilities, and in the adjacent undeveloped Rocky Point
Unit from Whiting Petroleum Corporation ("Whiting Properties
Offshore") for a purchase price of approximately $6,758,550
consisting of $5,625,00 in cash and the issuance of 500,000
shares of the Company's common stock with a fair market value of
$1,133,550. The acquisition was financed through borrowings from
an unrelated entity at an interest rate of prime plus 1.5% per
annum and the issuance of 250,000 options to purchase the
Company's common stock at $2 per share.
On November 1, 1999, Delta purchased interests in 11
producing wells and associated acreage in New Mexico and Texas
from Whiting Petroleum Corporation ("Whiting Properties Onshore")
for a purchase price of approximately $2,880,000 financed through
borrowings from an unrelated entity at an interest rate of 18%
per annum.
The accompanying historical balance sheet of Delta at
September 30, 1999 has been adjusted to record the purchase price
of the Whiting Properties as follows:
Offshore:
(1) To record the assets acquired relating to the Whiting
Offshore Properties as follows:
Cash consideration $5,625,000
Issuance of equity securities 1,133,550
Total Purchase Price $6,758,550
The purchase price has been allocated as follows:
Oil and gas properties $5,558,550
Other long term assets 1,000,000
Deferred finance fee 200,000
$6,758,550
Other long term assets represent the companies interest in
the net working capital positions of various partnerships
operated the Point Arguello property.
(2) Pursuant to the purchase of the Whiting offshore properties,
the Company borrowed $8,000,000 to finance the acquisition and
consolidate previously outstanding debt. Loan proceeds were used
as follows:
Final installment for the purchase
Of offshore properties $2,625,000
Repayment of existing debt
Obligations 5,375,000
$8,000,000
(3) To record deferred financing costs relating to
operations to purchase 250,000 shares of the Company's
common stock at $2.00 per share issued to the
financier.
Onshore:
(1) To record the assets acquired relating to the Whiting
Properties and the related short term financing.
C) ACQUISITION OF WHITING PROPERTIES - STATEMENT OF
OPERATIONS
The accompanying condensed pro forma combined statement of
operations for the three months ended September 30, 1999 and for
the year ended June 30, 1999 have been adjusted to include the
historical revenue and direct lease operating expenses of the
Whiting Properties.
In addition, the following adjustments have been made to the
accompanying condensed pro forma combined statement of operations
for the three months ended September 30, 1999 and for the year
ended June 30, 1999:
Offshore:
(1) To adjust depletion expense to reflect the pro forma
depletion rate giving effect to the acquisition of the Whiting
properties.
(2) To record interest expense for interest associated with the
debt incurred in connection with the Whiting Properties. Assumed
interest rate is 9.5%, being a current prime rate plus 1-1/2%. A
one-eighth change in interest rate would have a $71,250 annual
impact on interest expense.
(3) To record amortization of deferred financing
relating to the 250,000 options to purchase the
Company's common stock at $2.00 per share.
Onshore:
(1) To adjust depletion expense to reflect the pro forma
depletion rate giving effect to the acquisition of the Whiting
Properties.
(2) To record interest expense for interest associated with the
debt incurred in connection with the Whiting Properties.
Assumed interest rate is 18%.
No effect of general and administrative expense has been
proformed as management is unable to estimate the impact of any
potential increases in general and administrative expenses. In
addition, no income tax effects of the proforma adjustment have
been reflected due to Delta's net operating loss carry forward
position and related income tax valuation allowance.
INDEX TO EXHIBITS
(1) Underwriting Agreement. Not applicable.
(2) Plan of Acquisition, Reorganization, Arrangement,
Liquidation or Succession. Not applicable.
(3) (i) Articles of Incorporation. Not applicable.
(ii) Bylaws. Not applicable.
(4) Instruments Defining the Rights of Security Holders,
including Indentures. Not applicable.
(5) Opinion: re: Legality. Not applicable.
(6) Opinion: Discount on Capital Shares. Not applicable.
(7) Opinion: re: Liquidation Preference. Not Applicable.
(8) Opinion: re: Tax Matters. Not Applicable.
(9) Voting Trust Agreement. Not Applicable.
(10) Material Contracts. Not Applicable.
(11) Statement re: Computation of Per Share Earnings.
Not Applicable.
(12) Statement re: Computation of Ratios. Not Applicable.
(13) Annual Report to Security Holders, etc. Not Applicable.
(14) Material Foreign Patents. Not Applicable.
(15) Letter re: Unaudited Interim Financial Information.
Not Applicable.
(16) Letter re: Change in Certifying Accountant.
Not applicable.
(17) Letter re: Director Resignation. Not applicable.
(18) Letter re: Change in Accounting Principles. Not Applicable.
(19) Report Furnished to Security Holders. Not Applicable.
(20) Other Documents or Statements to Security Holders. Not
applicable.
(21) Subsidiaries of the Registrant. Not Applicable.
(22) Published Report Regarding Matters Submitted to Vote of
Security Holders. Not Applicable.
(23) Consents of Experts and Counsel.
23.1 Consent of KPMG LLP
(24) Power of Attorney. Not applicable.
(25) Statement of Eligibility of Trustee. Not Applicable.
(26) Invitations for Competitive Bids. Not Applicable.
(27) Financial Data Schedule. Not Applicable.
(99) Additional Exhibits. Not Applicable.
Consent of Independent Auditors
We consent to the inclusion of our report dated December
29, 1999 in Form 8-K/A of Delta Petroleum Corporation and
incorporation by reference in the registration statement No. 33-
87106 and 33-91452 Form S-8 of Delta Petroleum Corporation
relating to the Statement of Oil and Gas Revenue and Direct lease
operating expenses of oil and gas properties of Whiting Petroleum
Corporation acquired by Delta Petroleum Corporation for the year
ended June 30, 1999 and nine month period ended June 30, 1998
which report appears in the Form 8-K/A of Delta Petroleum
Corporation dated February 7, 2000.
KPMG LLP
Denver, Colorado
February 14, 2000
