Item 1.01 Entry Into a Material Definitive Agreement.
On September 26, 2008, Delta Petroleum Corporation entered into a Purchase and Sale Agreement with EnCana Oil & Gas (USA) Inc. for Delta to acquire all of EnCana's net leasehold position and interest in wells located in the Columbia River Basin of Washington and Oregon for a purchase price of $25,000,000. As a result of the transaction, Delta's total leasehold ownership in the Columbia River Basin increased to approximately 844,000 net acres.
Also on September 26, 2008, Delta entered into a Sale Agreement with Husky Refining Company for Husky to acquire a fifty percent (50%) working interest participation in all of Delta's Columbia River Basin leaseholds and wells, including those acquired in the Purchase and Sale Agreement with EnCana, for a purchase price of $42,000,000 plus fifty percent (50%) of the actual gross drilling costs of the Gray Well 31-21. Delta and Husky plan to drill at least three wells in the Columbia River Basin, including the Gray Well 31-21. Following the closing of this Sale Agreement, Delta's leasehold position in the Columbia River Basin is approximately 422,000 net acres.
Copies of the agreements with EnCana and Husky are attached hereto as Exhibits 10.1 and 10.2 and are incorporated herein by reference.
On September 29, 2008, Delta issued a press release announcing that the Company entered into the agreements with EnCana and Husky. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

Exhibit
No. Description
10.1 Purchase and Sale Agreement between EnCana Oil & Gas (USA) Inc. and Delta Petroleum Corporation.

10.2 Sale Agreement between Delta Petroleum Corporation and Husky Refining Company.

99.1 Delta Petroleum Corporation Press Release.

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