Delta Petroleum Unveils New Hire Share Grants

Delta Petroleum Corp. said Thursday that it has granted 17,019 shares of its common stock to 12 new employees on June 30, 2006, as an inducement to entering into employment with the company. All of the grants were made to non-executive officer employees under the company's 2005 New Hire Plan. The shares granted to these employees vest over a 3-year period.

Delta Petroleum Corp. is a Denver-based independent oil and gas exploration and development company. The company's core areas of operations are the Gulf Coast and Rocky Mountain regions, which comprise the majority of its proved reserves, production, and long-term growth prospects.

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