8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 30, 2009

DELTA PETROLEUM CORPORATION

(Exact name of registrant as specified in its charter)

DELAWARE
(State or other jurisdiction of
incorporation or organization) 0-16203
(Commission
File Number) 84-1060803
(I.R.S. Employer
Identification Number)

Suite 4300
370 Seventeenth Street
Denver, Colorado 80202

Registrant’s telephone number, including area code: (303) 293-9133

No Change
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

          On November 30, 2009, we, Delta Petroleum Corporation, issued a press release announcing that we will consider strategic alternatives to enhance shareholder value, including, but not limited to, exploring the sale of some or all of our assets, partnerships and joint venture opportunities, and the sale of the entire company. We have retained Morgan Stanley and Evercore Partners to evaluate and advise our Board of Directors on strategic alternatives. We do not intend to make further announcements regarding the review until our Board of Directors has approved a specific transaction or otherwise determines that disclosure of significant developments is appropriate. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

     (d) Exhibits.

Exhibit
No.	Description
99.1	Delta Petroleum Corporation Press Release, dated November 30, 2009.

Forward Looking Statements

          This report contains “forward-looking statements.” For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements, including without limitation statements regarding future announcements and management’s or our Board of Directors’ beliefs regarding strategic alternatives. There are a number of important factors that could cause our results to differ materially from those indicated by these forward-looking statements, including risks detailed in our periodic report filings with the Securities and Exchange Commission. You can find our filings with the Securities and Exchange Commission at www.deltapetro.com or at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this report.

Signature

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 30, 2009

Delta Petroleum Corporation
By:	/s/ Stanley F. Freedman
	Stanley F. Freedman
	Executive Vice President and Secretary

EXHIBIT INDEX

Exhibit
No.	Description
99.1	Delta Petroleum Corporation Press Release, dated November 30, 2009.

EX-99.1

Exhibit 99.1

DELTA PETROLEUM CORPORATION
Daniel Taylor, Chairman
John Wallace, President and COO
Kevin Nanke, Treasurer and CFO
Broc Richardson, V.P. Corporate Development and IR
370 17th Street, Suite 4300
Denver, Colorado 80202

For Immediate Release

DELTA PETROLEUM CORPORATION
ANNOUNCES REVIEW OF STRATEGIC ALTERNATIVES

     DENVER, Colorado (November 30, 2009) — Delta Petroleum Corporation (NASDAQ Global Market: DPTR), an independent oil and gas exploration and development company (“Delta” or the “Company”), announced today that it has retained Morgan Stanley and Evercore Partners to evaluate and advise the Board of Directors on strategic alternatives to enhance shareholder value. This will include, but not be limited to, exploring the sale of some or all of the Company’s assets, partnerships and joint venture opportunities, and the sale of the entire Company.

     There is no assurance that this review will result in Delta changing its business plan, pursuing any particular transaction, or, if it pursues any such transaction, that it will be completed. The Company does not expect to make further public comment regarding the review until the Board of Directors has approved a specific transaction or otherwise determines that disclosure of significant developments is appropriate.

ABOUT DELTA PETROLEUM

     Delta Petroleum Corporation is an oil and gas exploration and development company based in Denver, Colorado. 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. The Company has a significant drilling inventory that consists of proved and unproved locations, the majority of which are located in its Rocky Mountain development projects. Its common stock is traded on the NASDAQ Global Market under the symbol “DPTR.”

FORWARD-LOOKING STATEMENTS

     Forward-looking statements in this announcement are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, results of the consideration of strategic alternatives. Readers are cautioned that all forward-looking statements are based on management’s present expectations, estimates and projections, but involve risks and uncertainty including, without limitation, uncertainties in the projection of future rates of production, unanticipated recovery or production problems, unanticipated results from wells being drilled or completed, the effects of delays in completion of gas gathering systems, pipelines and processing facilities, as well as general market conditions, competition and pricing. Please refer to the Company’s report on Form 10-K for the year ended December 31, 2008 and subsequent reports on Forms 10-Q and 8-K as filed with the Securities and Exchange Commission for additional information. The Company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

For further information contact the Company at (303) 293-9133 or via email at info@deltapetro.com

SOURCE: Delta Petroleum Corporation

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