Delta Petroleum (fka DPTRQ)

[barron 22]

6months ago this company looked like it was ready to implode
oil was a lot cheaper now we are back to $90.00 and gas has come up
they need thier credit in check and after looking over the third quarter filings it looks like thier losses are being trimed
quite a bit if they can stay the course that is the question.
My take is they got way over extended in the last boom and spent money like it was welling out of the ground no pun intended .
purchasing the drilling company bit them in the ass and with half the rigs idle it was a huge finacial draw even if they only own half the company.
we are in the bottom of the cycle looking to come out will see how they make out over the next month as they have a large payment january 11th
but it sounds like they have gotten a new senior credit lender so we may be good
only time will tell