SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
SEPTEMBER 29, 2000
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
ITEM 2. ACQUISITION OF ASSETS
A. On September 28, 2000, Delta Petroleum Corporation ("Delta")
completed the acquisition of producing wells and acreage located
primarily in the Eland and Stadium fields in Stark County, North
Dakota, by paying Whiting Petroleum Corporation ("Whiting") the
balance of the purchase price. The payment included credit for
production from the effective date of February 1, 2000 until closing.
Delta acquired the properties from Whiting pursuant to a Purchase and
Sale Agreement dated June 1, 2000. Delta also issued 100,000 shares
of its restricted common stock to an unaffiliated party for its
consultation and assistance related to the transaction. For further
information about the transaction see Form 8-K dated July 10, 2000 and
the documents relating to the transaction incorporated therein as
Exhibits 10.1 and 10.2.
B. On September 29, 2000, Delta completed the acquisition of 100% of
the working interest in the West Delta Block 52 Unit, a producing
property in Plaquemines Parish, Louisiana, from Castle Offshore LLC, a
subsidiary of Castle Energy Corporation, and BWAB Limited Liability
Company. Under the Purchase and Sale Agreement dated August 4, 2000,
a copy of which is incorporated herein as Exhibit 10.1, Delta has paid
$1,529,157 and issued 509,719 shares of its restricted common stock as
consideration for the properties and has assumed plugging and
abandonment liability for the properties.
Hexagon Investments LLC ("Hexagon") loaned Delta $1,463,532
to purchase the properties. To induce Hexagon to make the
loan to Delta, Aleron H. Larson, Jr., Delta's Chairman, and
Roger A. Parker, Delta's President, agreed to personally
guarantee the repayment of the loan. The documents
evidencing the financing arrangement with Hexagon and
incorporated herein as exhibit 10.2.
ITEM 5. OTHER EVENTS
On October 2, 2000, Delta elected to exercise its
option to purchase interests in 680 producing wells and
associated acreage in the Permian Basin located in eight
counties in West Texas and Southeastern New Mexico from Saga
Petroleum Corporation and its affiliates. Delta paid Saga
and its affiliates $500,000 in cash and issued 289,583
shares of its restricted common stock as a deposit required
by the Purchase and Sale Agreement ("Agreement") between the
parties dated September 6, 2000, a copy of which is
incorporated into Delta's Form 8-K dated September 7, 2000
as Exhibit 10.1 thereto. Under the Agreement, Delta has
agreed to pay the bulk of the remainder of the $49,500,000
purchase price by December 1, 2000.
Delta has not yet secured the financing and/or industry
participants that will be necessary to acquire the
properties.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Proforma financial information and any exhibits required will
be filed by amendment to this Form 8-K withint the period of
time required by the Securities and Exchange Commission rules.
10.1 Purchase and Sale Agreement between Delta Petroleum Corporation
and Castle Offshore LLC and BWAB Limited Liability Company dated
August 4, 2000.
10.2 Documents evidencing financing arrangements between Hexagon
Investments and Delta Petroleum Corporation dated September 28, 2000.
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: October 5, 2000 By:s/Aleron H. Larson, Jr.
Aleron H. Larson, Jr.
Chairman/C.E.O.
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.
10.1 Purchase and Sale Agreement between Delta Petroleum Corporation
and Castle Offshore LLC and BWAB Limited Liability Company dated
August 4, 2000.
10.2 Documents evidencing financing arrangements between Hexagon
Investments and Delta Petroleum Corporation dated September 28, 2000.
(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. Not applicable.
(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.
