Delta Petroleum Corporation says that Chairman and CEO Roger Parker has informed the Board of Directors that he is resigning from the Company.

"I am very proud of my 22 years at Delta," said Roger Parker. "I believe Delta is well positioned for the future and that this is the appropriate time for me to pursue new business interests. I am resigning my positions with Delta today and leave with great fondness for the Company and its employees, but will remain involved as a consultant for six months to assist in a smooth transition and to provide continuity."

The Board has formed a committee of independent directors tasked with searching for a new Chief Executive Officer. John Wallace will continue in his role as President and will function as the senior executive officer of the Company until a new CEO is identified by the Board.

Daniel Taylor, a Delta Petroleum Board member since February 2008 and a Tracinda Corporation executive, was elected Chairman of the Board. Tracinda currently owns approximately 34% of Delta's shares and is the largest shareholder of the Company. "I look forward to working as Chairman with Delta Petroleum's experienced management team as it works to capitalize on the significant untapped value inherent in its asset base and significant acreage positions," said Mr. Taylor.

Mr. Taylor stated, "On behalf of the Board of Directors, I wish Roger well in his future endeavors. Roger is a skilled oil and gas executive and his contributions to Delta Petroleum's growth have been considerable."

Tags: Delta Petroleum Corporation