...um ueber 500%
Delta schloss am Mittwoch auf dem Tageshoch von $ 5 1/8, Volumen 15.300. Wie dem
folgenden Quartalsbericht zu entnehmen ist, befindet sich Delta weiter auf dem Weg nach
oben. Die Fundamentals stimmen und das wird sich im Kurs reflektieren.
DENVER--(BUSINESS WIRE)--Feb. 7, 2001--Delta Petroleum Corporation (Nasdaq:DPTR -
news; Frankfurt Stock Exchange:DPE):
Three months ended December 31, 2000, and December 31, 1999
Revenue increased 582% from the same period last year due to producing property
acquisitions and
increases in oil and natural gas prices. Total revenue was $3,407,057 for the three months
ended
December 31, 2000, compared to $584,816 for the three months ended December 31, 1999.
Net
income for the December 31, 2000, period was $292,408, compared to a net loss of $494,685
in
the last year period. After non-cash expense items, including depreciation and depletion of
$490,660, amortization of deferred financing cost of $151,158 and stock option expense of
$77,928, the Company experienced $1,012,154 in net cash flow.
Production increased to an average of 1,527 barrels of oil and gas equivalent per day for the
period
ended December 31, 2000, and is to average approximately 1,725 barrels of oil and gas
equivalent
per day in the third quarter ending March 31, 2001. Average prices realized by the Company
increased to $20.87 per barrel of oil and $7.52 per Mcf of gas. The Company currently has only
one forward sales contract affecting 3,500 barrels per month at $29.43 per barrel and expires
on
November 1, 2001.
Lease operating expense (``LOE'') per barrel equivalent produced have increased 15% from
the
most recent quarter and are related to offshore expense increases in both California and
Louisiana.
However, LOE in both areas is expected to decrease somewhat in future periods.
Six months ended December 31, 2000, and December 31, 1999
Revenue for the six month period was $5,806,888, compared to $732,956 in the prior year
period.
This represents an increase of 792%. Net income was $562,163, compared to a net loss of
$1,407,805. The Company also experienced $2,051,291 in net cash flow after non-cash items.
This
compares to a cash flow deficit of $984,468 for the period ended December 31, 1999.
Production Increases
The Company currently has plans to drill or participate in the drilling of new wells on properties
it
owns in Eddy County, New Mexico; Colusa County, California; Harding County, South Dakota;
and offshore California all beginning in the current quarter and continuing throughout the year.
The
Company also completed the acquisition of a producing gas property acquisition in January,
2001.
The new drilling and acquisition activities should allow for higher revenue, net income and net
cash
flow for the next quarter.
Delta schloss am Mittwoch auf dem Tageshoch von $ 5 1/8, Volumen 15.300. Wie dem
folgenden Quartalsbericht zu entnehmen ist, befindet sich Delta weiter auf dem Weg nach
oben. Die Fundamentals stimmen und das wird sich im Kurs reflektieren.
DENVER--(BUSINESS WIRE)--Feb. 7, 2001--Delta Petroleum Corporation (Nasdaq:DPTR -
news; Frankfurt Stock Exchange:DPE):
Three months ended December 31, 2000, and December 31, 1999
Revenue increased 582% from the same period last year due to producing property
acquisitions and
increases in oil and natural gas prices. Total revenue was $3,407,057 for the three months
ended
December 31, 2000, compared to $584,816 for the three months ended December 31, 1999.
Net
income for the December 31, 2000, period was $292,408, compared to a net loss of $494,685
in
the last year period. After non-cash expense items, including depreciation and depletion of
$490,660, amortization of deferred financing cost of $151,158 and stock option expense of
$77,928, the Company experienced $1,012,154 in net cash flow.
Production increased to an average of 1,527 barrels of oil and gas equivalent per day for the
period
ended December 31, 2000, and is to average approximately 1,725 barrels of oil and gas
equivalent
per day in the third quarter ending March 31, 2001. Average prices realized by the Company
increased to $20.87 per barrel of oil and $7.52 per Mcf of gas. The Company currently has only
one forward sales contract affecting 3,500 barrels per month at $29.43 per barrel and expires
on
November 1, 2001.
Lease operating expense (``LOE'') per barrel equivalent produced have increased 15% from
the
most recent quarter and are related to offshore expense increases in both California and
Louisiana.
However, LOE in both areas is expected to decrease somewhat in future periods.
Six months ended December 31, 2000, and December 31, 1999
Revenue for the six month period was $5,806,888, compared to $732,956 in the prior year
period.
This represents an increase of 792%. Net income was $562,163, compared to a net loss of
$1,407,805. The Company also experienced $2,051,291 in net cash flow after non-cash items.
This
compares to a cash flow deficit of $984,468 for the period ended December 31, 1999.
Production Increases
The Company currently has plans to drill or participate in the drilling of new wells on properties
it
owns in Eddy County, New Mexico; Colusa County, California; Harding County, South Dakota;
and offshore California all beginning in the current quarter and continuing throughout the year.
The
Company also completed the acquisition of a producing gas property acquisition in January,
2001.
The new drilling and acquisition activities should allow for higher revenue, net income and net
cash
flow for the next quarter.
