Delta Petroleum Corp. (NASDAQ:DPTR) announced it extended negotiations with Opon International LLC. 
Opon may take a a 37.5% non-operated working interest in assets, Delta holds in the Piceance Basin in Colorado for $400 million.
As a result of the news, DPTR stock moved up on the market. Yesterday it plunged by 6.09% and closed at $1.22 at market cap 345.00M. The traded volume of DPTR also rose up and exceeded 5 million shares.
Delta Petroleum is an independent oil gas exploration and production company. It holds 49.8% of contract driller DHS Holding and has oil and gas leasehold properties covering approximately 893 thousand undeveloped acres.
The results from Delta’s quarterly report for 2010 show that oil and gas sales increased 55%, but the company reported a net loss attributable to common stockholders of $12.8 million. However, if the present uptrend continues, it will bring higher profit to DPTR.
