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	<title>Stock Blog Hub &#187; DPTR</title>
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		<title>(DPTR) Delta Petroleum to Sell Piceance Properties</title>
		<link>http://www.stockbloghub.com/2010/03/19/dptr-delta-petroleum-to-sell-piceance-properties/31302</link>
		<comments>http://www.stockbloghub.com/2010/03/19/dptr-delta-petroleum-to-sell-piceance-properties/31302#comments</comments>
		<pubDate>Fri, 19 Mar 2010 22:15:20 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Independent Oil & Gas]]></category>
		<category><![CDATA[Delta Petroleum Corporation]]></category>
		<category><![CDATA[DPTR]]></category>

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		<description><![CDATA[U.S. energy producer Delta Petroleum Corp. (DPTR) has entered into an agreement with Denver-based Opon International LLC to sell a stake in some of its natural gas fields in Colorado for $400 million. Delta has also granted a 60-day exclusive period to Opon to arrange financing for the transaction, which is expected to close by Jun 1, 2010. As per the non-binding letter of intent signed between the companies, Delta plans to offload a 37.5% non-operated working interest in its Vega Area assets in western Colorado’s Piceance Basin to Opon. Upon closure of the proposed deal, Delta has agreed to issue 5.7 million shares to Opon at $3.50 each and warrants to purchase another 13.3 million shares at $1.50 each. Delta will still continue to operate the Vega project subject ]]></description>
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