Document:

September 28, 2000

Delta Petroleum Corporation
555 17th Street, Suite 3310
Denver, Colorado 80202
Attn: Roger A. Parker, President

Re:   Loan  in  the amount of $1,485,485.00  made  to  Delta
Petroleum Corporation by Hexagon Investments, LLC

Dear Roger:

     The purpose of this letter agreement ("Letter Agreement") is
to  confirm that, subject to the terms and conditions herein  set
forth,  Hexagon  Investments, LLC, a Colorado  limited  liability
company  ("Lender"), agrees to make the below-referenced loan  to
Delta Petroleum Corporation, a Colorado corporation ("Borrower").

     SECTION 1.  LOAN

     1.1   Loan.  Borrower desires to receive a loan from  Lender
in  the  amount of ONE MILLION FOUR HUNDRED EIGHTY FIVE  THOUSAND
FOUR  HUNDRED EIGHTY FIVE and No/100 Dollars ($1,485,485.00) (the
"Loan")  for the purpose of purchasing certain interests  in  oil
and  gas properties identified as the "Interests" in that certain
Conveyance,  Assignment  and Bill of Sale  dated  ______________,
2000  by  and among Castle Offshore, L.L.C., a Louisiana  limited
liability  company,  BWAB Limited Liability Company,  a  Colorado
limited liability company and Delta Petroleum Corporation, a copy
of  which  is  attached hereto as more particularly described  on
Exhibit  A  attached  hereto and by this  reference  incorporated
herein (the "Interests").

     SECTION 2.  COMMITMENT

     2.1  Note.  The Loan shall be evidenced by a Promissory Note
(the  "Note")  from  Borrower, in  a  form  prepared  by  Lender,
executed and delivered simultaneously with the execution of  this
Letter  Agreement,  in  the amount of $1,485,485.00,  payable  to
Lender  upon  the  terms and conditions contained  therein  which
shall include, but not be limited to, the following:

          (a)   Interest  Rate.   Interest shall  accrue  on  the
unpaid principal balance of the Loan at a rate per annum equal to
fifteen  percent  (15%).   Interest  shall  accrue  and  compound
monthly on the outstanding principal balance of the Note.

          (b)   Accrual of Interest.  Unless the due date of  the
Note  is  accelerated upon the occurrence of an Event of  Default
(as  hereinafter  defined), no payment of principal  or  interest
shall  be  due hereunder until the Maturity Date (as  hereinafter
defined),  when the outstanding principal balance of  this  Note,
together with all accrued interest thereon and any other sums due
under the Note, shall be immediately due and payable.

          (c)    Maturity  Date.   The  entire  unpaid  principal
balance,  all  accrued and unpaid interest and all other  amounts
payable  under the Note shall be due and payable in full  October
30, 2000 (the "Maturity Date").

          (d)   Distributions  to  be  Applied.   Notwithstanding
anything  above  to  the contrary, any and all distributions  and
from or related to the Interests which would otherwise be payable
or  credited to Borrower shall be paid and credited to Lender  as
payment on the Note.

     SECTION 3.  LOAN FEES

     3.1   Origination  Fee.  The parties acknowledge  and  agree
that an origination fee (the "Origination Fee") of $21,953.00 has
been  included in the face amount of the note, and same shall  be
payable,  with  interest, on the Maturity Date.  The  Origination
Fee  has  been  earned  and  shall be  non-refundable  under  any
circumstances.

     SECTION 4.  SECURITY

     4.1   Security.  Borrower shall cause the Loan and  Borrower
obligation's  under  this Letter Agreement to  be  secured  by  a
security interest, mortgage or other right satisfactory to Lender
in and to the Interests.

     4.2   Personal  Guarantee.  Borrower's  directors,  officers
and/or  significant shareholders, Roger A. Parker and  Aleron  H.
Larson,   Jr.,  shall  cause  to  be  executed  contemporaneously
herewith  an  agreement  personally guaranteeing  the  Loan  (the
"Guaranty Agreement").

     4.3   Security Documents.  All of the documents required  by
Lender  to  grant and perfect the guarantees, liens and  security
interests  required  herein shall be in a  form  satisfactory  to
Lender and may be referred to herein as the "Security Documents."
Borrower agrees to execute such additional Security Documents  as
Lender may request, from time to tome, to evidence, create and/or
perfect Lender's security interest in the Interests.

     SECTION 5.  CONDITIONS PRECEDENT

     5.1  The obligation of Lender to make the Loan is subject to
the  following express conditions precedent, all of which, unless
otherwise provided below, shall have been satisfied prior to  the
granting of the Loan:

          (a)   Loan Documents.  Borrower shall have executed (or
obtained  the  execution or issuing of) and delivered  to  Lender
this  Letter  Agreement  together with  the  following  documents
(collectively the "Loan Documents"), all in form satisfactory  to
Lender:

               (i)  The Note;

               (ii) The Security Documents; and

               (iii)     The Guaranty Agreement.

          (b)  Intentionally Omitted.

          (c)   Other  Conditions.  Unless waived by  Lender,  in
writing,  Borrower,  at  its expense,  shall  have  obtained  and
delivered to Lender the following items, all of which shall be in
form  and content satisfactory to Lender and shall be subject  to
approval in writing by Lender:

               (i)    As   to  Borrower:  (1)  a  copy   of   the
organizational  documents for that entity, (2)  evidence  of  the
proper formation and good standing of that entity in the state of
its   organization,   and  (3)  evidence  of   qualification   or
registration  of  that entity in the State of  Colorado  and  all
other states determined by Lender.

               (ii)  All  minutes,  resolutions  and/or  consents
authorizing Borrower to enter into and perform under the Loan.

               (iii)  A   certified  copy  of  the  Purchase Agreement
affecting the Interests.

          (d)   Representations  True.  All  representations  and
warranties  by  Borrower set forth in the  Loan  Documents  shall
remain  true and correct and all agreements that Borrower  is  to
have  performed  or complied with by the date hereof  shall  have
been performed or complied with.

          (e)   No Event of Default.  No Event of Default exists,
and  no  event has occurred and no condition exists  that,  after
notice  or lapse of time, or both, would constitute an  Event  of
Default.

     SECTION 6.  REPRESENTATIONS AND WARRANTIES

     6.1  Borrower represents and warrants to Lender as follows:

          (a)    Recitals  and  Statements.   The  recitals   and
statements of intent appearing in this Letter Agreement are  true
and correct.

          (b)   Organization and Good Standing.   Borrower  is  a
corporation duly organized, validly existing and in good standing
under  the laws of the state of its organization and is,  to  the
extent  required by law, qualified to do business and is in  good
standing  in the State of Colorado and in each state in which  it
is doing business.

          (c)   Power.  Borrower has full power and authority  to
own its properties and assets and to carry on its business as now
being conducted.  The execution, delivery and performance of  the
Loan  Documents have been duly authorized by all requisite action
on the part of Borrower.

          (d)   Authority.   Borrower  is  fully  authorized  and
permitted  to enter into the Loan Documents, to execute  any  and
all   documentation  required  therein,  to  borrow  the  amounts
contemplated  herein  upon the terms  set  forth  herein  and  to
perform  the terms of the Loan Documents, none of which conflicts
with  any provision of any law, rule or regulation applicable  to
Borrower.   The  Loan Documents are the valid and  binding  legal
obligations  of Borrower, and each is enforceable  in  accordance
with    its    terms,   subject   to   bankruptcy,    insolvency,
reorganization, moratorium or other similar laws relating to  the
rights of creditors generally and general principles of equity.

          (e)   Enforceable Liens.  The liens, security interests
and  assignments  created by the Security  Documents  will,  when
granted  and  recorded  or filed, be valid,  effective,  properly
perfected  and  enforceable first liens, security  interests  and
assignments.

          (f)   No Other Liens.  The Interests are free and clear
of  any  interests, liens or encumbrances other than the security
interests required pursuant to the terms hereof.

          (g)    No   Breach.    The  execution,   delivery   and
performance by Borrower of the Loan Documents will not result  in
any  breach  of  the  terms,  conditions  or  provisions  of,  or
constitute  a  default under, any agreement or  instrument  under
which  Borrower is a party or is obligated.  Borrower is  not  in
default  in  the  performance  or observance  of  any  covenants,
conditions or provisions of any such agreement or instrument.

          (h)   No Actions.  No actions, suits or proceedings are
pending or threatened against Borrower that might materially  and
adversely  affect the repayment of the Loan, the  performance  by
Borrower  under  the  Loan Documents or the financial  condition,
business or operations of Borrower.

          (i)   Affirmation  of Representations  and  Warranties.
All  representations and warranties made herein shall survive the
execution  of  this  Letter  Agreement,  and  the  execution  and
delivery  of  all other documents and instruments  in  connection
with the Loan, until the Loan and all indebtedness hereunder have
been  paid  in  full and all of Borrower's obligations  hereunder
have been fully discharged.

     SECTION 7.  AFFIRMATIVE COVENANTS

     7.1   Until  the  Loan and all other indebtedness  hereunder
have  been  paid  in  full  and  all  of  Borrower's  obligations
hereunder have been fully discharged:

          (a)   Compliance  with Loan Documents.  Borrower  shall
make all payments of interest and principal on the Loan and shall
keep and comply with all terms, conditions and provisions of  the
Loan Documents.

          (b)   Subsequent  Actions.  Borrower shall  immediately
inform  Lender  of  any  actions, suits or proceedings  involving
Borrower that could materially and adversely affect the repayment
of   the  Loan,  the  performance  by  Borrower  under  the  Loan
Documents, or the financial condition, business or operations  of
Borrower.

          (c)   Further  Assurances.  Borrower shall execute  and
deliver  such  additional documents and do  such  other  acts  as
Lender may reasonably require in connection with the Loan.

          (d)   Borrower  Notices.  Borrower shall promptly  give
notice in writing to Lender of (i) the occurrence of any Event of
Default, (ii) any change in the name of Borrower, and in the case
of  a  reorganization, any change in name, identity or  corporate
structure,  or  (iii)  any uninsured or  partially  insured  loss
through fire, theft, liability or property damage.

     SECTION 8.  NEGATIVE COVENANTS

     8.1   Until  the  Loan and all other indebtedness  hereunder
have  been  paid  in  full  and  all  of  Borrower's  obligations
hereunder have been fully discharged, Borrower shall not, without
receiving the prior written consent of Lender:

          (a)    Dissolution   or   Liquidation.    Dissolve   or
liquidate, or merge or consolidate with or into any other entity,
or  turn over the management or operation of its property, assets
or business to any other person, firm or corporation.

          (b)   Due on Sale or Encumbrance.  Assign, transfer  or
convey  any  of  its right, title and interest  in  any  property
whether  real  or personal encumbered by the Security  Documents;
create  or  suffer  to be created any mortgage, pledge,  security
interest, encumbrance or other lien on any property encumbered by
the  Security  Documents; or create or suffer to be  created  any
mortgage, pledge, security interest, encumbrance or other lien on
any  other  property  or assets which it now  owns  or  hereafter
acquires  except in consideration of the contemporaneous  receipt
by it of benefits equal or greater in value to the lien created.

     SECTION 9.  WAIVER

     9.1   Waiver.  Borrower waives presentment, demand,  protest
and notices of protest, nonpayment, partial payment and all other
notices  and formalities except as expressly called for  in  this
Letter  Agreement.   Borrower consents to and waives  notice  of:
(i) the granting of indulgences or extensions of time of payment,
(ii)  the taking or releasing of security, and (iii) the addition
or  release  of  persons  who  may  be  or  become  primarily  or
secondarily liable for the Loan or any other indebtedness arising
in connection with the Loan, or any part thereof, and all in such
manner and at such time as Lender may deem advisable.

     9.2   Delay or Omission.  No delay or omission by Lender  in
exercising  any  right,  power  or  remedy  hereunder,   and   no
indulgence given to Borrower, with respect to any term, condition
or  provision set forth herein, shall impair any right, power  or
remedy of Lender under this Letter Agreement, or be construed  as
a  waiver by Lender of, or acquiescence in, any Event of Default.
Likewise,  no such delay, omission or indulgence by Lender  shall
be  construed  as  a  variation or waiver of any  of  the  terms,
conditions  or provisions of this Letter Agreement.   Any  actual
waiver by Lender of any Event of Default shall not be a waiver of
any  other  prior or subsequent Event of Default or of  the  same
Event  of  Default  after  notice to  Borrower  demanding  strict
performance.

     SECTION 10.  DEFAULT

     10.1  Event  of  Default.   The occurrence  of  any  of  the
following  events  or conditions shall constitute  an  "Event  of
Default" under this Letter Agreement:

          (a)  Any failure to pay any principal or interest under
the  Note  when  the same shall become due and payable  and  such
failure continues for five (5) days thereafter, or the failure to
pay  any  other sum due under the Note, this Letter Agreement  or
any  Security Document when the same shall become due and payable
and such failure continues for ten (10) days after notice thereof
to  Borrower.   No  notice,  however,  shall  be  required  after
maturity of the Note.

          (b)   Any failure or neglect to perform or observe  any
of  the  covenants,  conditions  or  provisions  of  this  Letter
Agreement, the Note, any Security Document or any other  document
or  instrument executed or delivered in connection with the  Loan
(other than a failure or neglect described in one or more of  the
other  provisions  of this Paragraph 10.1) and  such  failure  or
neglect  either cannot be remedied or, if it can be remedied,  it
continues  unremedied  for a period of  thirty  (30)  days  after
notice  thereof to Borrower.  Notwithstanding the  foregoing,  in
the  case of an Event of Default under this subparagraph 10.1(b),
if  such  Event  of Default cannot be remedied  within  30  days,
Borrower shall have an additional thirty (30) days to remedy such
Event of Default provided that Borrower commences its cure within
the  first thirty (30) day period and diligently prosecutes  such
cure.   In no event shall Borrower have more than the sixty  (60)
days allowed under this subparagraph 10.1(b) to effectuate a cure
of  an  Event of Default hereunder unless Lender agrees to extend
such period of time, which extension may be granted or denied  in
Lender's sole discretion.  Notwithstanding anything herein to the
contrary, Borrower agrees that Borrower's failure to comply  with
the  provisions  of Section 8.1(b) is a  failure that  cannot  be
remedied  by Borrower and Borrower shall not be entitled  to  any
opportunity to cure such failure.

          (c)    Any   warranty,  representation   or   statement
contained  in  this  Letter Agreement, in  the  Note  or  in  any
Security Document or any other document or instrument executed or
delivered  in  connection with the Loan, or made or furnished  to
Lender by or on behalf of Borrower, that shall be or shall  prove
to have been false when made or furnished.

          (d)   The  filing by Borrower (or against  Borrower  to
which  Borrower acquiesces or that is not dismissed within  sixty
(60)  days after the filing thereof) of any proceeding under  the
federal  bankruptcy laws now or hereafter existing or  any  other
similar statute now or hereafter in effect; the entry of an order
for  relief  under  such laws with respect to  Borrower  or  such
guarantor;  or the appointment of a receiver, trustee,  custodian
or  conservator of all or any part of the assets of  Borrower  or
such guarantor.

          (e)   The  insolvency of Borrower; or the execution  by
Borrower  of an assignment for the benefit of creditors;  or  the
convening by Borrower of a meeting of its creditors, or any class
thereof, for purposes of effecting a moratorium upon or extension
or  composition of its debts; or the failure of Borrower  to  pay
its  debts as they mature; or if Borrower is generally not paying
its debts as they mature.

          (f)   The admission in writing by Borrower that  it  is
unable  to  pay its debts as they mature or that it is  generally
not paying its debts as they mature.

          (g)   The  liquidation, termination or  dissolution  of
Borrower.

          (h)   Any  levy or execution upon, or judicial  seizure
of, any portion of any collateral or security for the Loan.

          (i)  Any attachment or garnishment of, or the existence
or  filing of any lien or encumbrance against any portion of  any
collateral  or  security for the Loan, that  is  not  removed  or
released  within thirty (30) days after its creation  or  is  not
released  within sixty (60) days of its creation if  Borrower  is
diligently contesting such lien or encumbrance in good faith  and
has  provided Lender with security therefor acceptable to  Lender
in its sole discretion.

          (j)  The institution of any legal action or proceedings
to  enforce  any  lien or encumbrance upon  any  portion  of  any
collateral or security for the Loan, that is not dismissed within
thirty (30) days after its institution, or is not released within
sixty  (60)  days  of its institution if Borrower  is  diligently
contesting such action in good faith and has provided Lender with
security  therefor acceptable to Lender in its  sole  discretion;
provided, however, that if such legal action or proceedings could
not  result in an award, judgment or decision requiring an action
by  the  Borrower other than the payment of funds,  no  Event  of
Default  shall be deemed to occur or be continuing upon  Borrower
establishing an escrow account in an amount equal to  or  greater
than any such threatened award, judgment or decision.

          (k)   The occurrence of any event of default under  the
Loan  Documents and the expiration of any applicable  notice  and
cure period.

          (l)   The  occurrence  of  any adverse  change  in  the
financial  condition of Borrower that Lender, in  its  reasonable
discretion,  deems  material, or if Lender in  good  faith  shall
believe  that the prospect of payment or performance of the  Loan
is impaired.

     10.2  Remedies.  Upon the occurrence of any Event of Default
and at any time while such Event of Default is continuing, Lender
may do one or more of the following:

          (a)   Declare  the  Loan and all other indebtedness  of
Borrower hereunder immediately due and payable, without notice or
demand;

          (b)   Proceed  to  protect and enforce its  rights  and
remedies  under this Letter Agreement, the Note, and all Security
Documents, including, without limitation, the Guaranty Agreement;

          (c)   Avail itself of any other relief to which  Lender
may be legally or equitably entitled.

     10.3  Enforcement Costs.  Borrower shall pay all  costs  and
expenses,  including without limitation costs of  title  searches
and  title  policy commitments, Uniform Commercial Code searches,
court  costs and reasonable in-house and outside attorneys' fees,
incurred  by Lender in enforcing payment and performance  of  the
Loan  and  the  other  indebtedness and obligations  of  Borrower
hereunder  or  in  exercising the rights and remedies  of  Lender
hereunder.  All such costs and expenses shall be secured  by  all
Security Documents.  In the event of any court proceedings, court
costs  and attorneys' fees shall be set by the court and  not  by
jury and shall be included in any judgment obtained by Lender.

     SECTION 11.  ACTION UPON AGREEMENT

     11.1 No Third Party Beneficiaries.  This Letter Agreement is
made  for  the sole protection and benefit of the parties  hereto
and  no  other  person or organization shall have  any  right  of
action hereon.

     11.2 Integration.  This Letter Agreement embodies the entire
Letter Agreement of the parties with regard to the subject matter
hereof.   There  are  no  representations, promises,  warranties,
understandings  or  agreements  expressed  or  implied,  oral  or
otherwise,  in relation thereto, except those expressly  referred
to or set forth herein.  Borrower acknowledges that the execution
and  delivery of this Letter Agreement is its free and  voluntary
act  and deed, and that said execution and delivery have not been
induced  by,  nor  done  in reliance upon,  any  representations,
promises,  warranties,  understandings  or  agreements  made   by
Lender, its agents, officers, employees or representatives.

     11.3 Modifications.  No promise, representation, warranty or
agreement made subsequent to the execution and delivery  of  this
Letter  Agreement  by  either party hereto,  and  no  revocation,
partial  or  otherwise, or change, amendment or addition  to,  or
alteration  or  modification of, this Letter Agreement  shall  be
valid  unless the same shall be in writing signed by all  parties
hereto.

     11.4  No  Joint  Venture.   Lender and  Borrower  each  have
separate and independent rights and obligations under this Letter
Agreement.   Nothing  contained  herein  shall  be  construed  as
creating, forming or constituting any partnership, joint venture,
merger or consolidation of Borrower and Lender for any purpose or
in any respect.

     SECTION 12.  GENERAL

     12.1  Survival.   This Letter Agreement  shall  survive  the
making of the Loan and shall continue so long as any part of  the
Loan, or any extension or renewal thereof, remains outstanding.

     12.2  Discretionary Rights.  All rights, powers and remedies
granted Lender herein, or otherwise available to Lender, are  for
the  sole  benefit  and  protection of  Lender,  and  Lender  may
exercise any such right, power or remedy at its option and in its
sole and absolute discretion without any obligation to do so.  In
addition, if, under the terms hereof, Lender is given two or more
alternative  courses of action, Lender may elect any  alternative
or combination of alternatives, at its option and in its sole and
absolute  discretion.  All monies advanced by  Lender  under  the
terms hereof and all amounts paid, suffered or incurred by Lender
in  exercising any authority granted herein, including reasonable
attorneys'  fees,  shall  be secured by the  Security  Documents,
shall bear interest at the highest rate payable on the Loan until
paid,  and  shall  be  due  and payable  by  Borrower  to  Lender
immediately without demand.

     12.3  Indemnity.  Borrower shall indemnify and  hold  Lender
harmless  from and against all claims, costs, expenses,  actions,
suits,  proceedings, losses, damages and liabilities of any  kind
whatsoever,  including  but not limited to  attorneys'  fees  and
expenses,  arising  out  of  any  matter  relating,  directly  or
indirectly,   to   the  Loan,  to  the  ownership,   development,
construction,  or sale of the Interests, whether  resulting  from
internal disputes of Borrower, disputes between Borrower and  any
guarantor, or whether involving other third persons or  entities,
or  out  of  any other matter whatsoever related to  this  Letter
Agreement,  the  Security Documents, or any  property  encumbered
thereby, but excluding any claim or liability which arises as the
direct  result  of the gross negligence or willful misconduct  of
Lender.   This indemnity provision shall continue in  full  force
and  effect and shall survive not only the making of the Loan and
the Advances but shall also survive the repayment of the Loan and
the performance of all of Borrower's other obligations hereunder.

     12.4  Joint and Several.  If Borrower consists of more  than
one  person or entity their liability shall be joint and several.
The provisions hereof shall apply to the parties according to the
context  thereof and without regard to the number  or  gender  of
words or expressions used.

     12.5 Time of Essence.  Time is expressly made of the essence
of this Letter Agreement.

     12.6 Notices.  All notices required or permitted to be given
hereunder  shall be in writing and may be given in person  or  by
United   States  mail,  by  delivery  service  or  by  electronic
transmission.   Any  notice directed to a party  to  this  Letter
Agreement  shall  become  effective  upon  the  earliest  of  the
following: (i) actual receipt by that party; (ii) delivery to the
designated  address of that party, addressed to  that  party;  or
(iii)  if  given by certified or registered United  States  mail,
seventy-two  (72)  hours  after deposit with  the  United  States
Postal  Service, postage prepaid, addressed to that party at  its
designated address.  The designated address of a party  shall  be
the  address of that party shown at the beginning of this  Letter
Agreement or such other address as that party, from time to time,
may specify by notice to the other parties.  Any notice to Lender
shall  be  sent  Attention:_____________________________________
________________________________________ and ___________________
_______________________________________________________________.
Any notice to Borrower under this Letter Agreement shall be sent
simultaneously to_______________________________________________.

     12.7  Payment  of Costs.  Borrower shall pay all  costs  and
expenses arising from the preparation of the Loan Documents,  the
closing of the Loan and the monitoring and administration of  the
Loan,  including  but  not limited to title  insurance  premiums,
other title company charges, recording and filing fees, costs  of
Uniform  Commercial  Code  searches,  Lender's  attorneys'  fees,
Lender's  processing and closing fees, Lender's inspection  fees,
appraisal  and appraisal review fees, any intangible or recording
taxes  and any other charges that may be imposed on Lender  as  a
direct result of this transaction.

     12.8  Severability.   The illegality or unenforceability  of
any  provision  of  this Letter Agreement or  any  instrument  or
agreement  required  hereunder shall not in  any  way  affect  or
impair the legality or enforceability of the remaining provisions
of  this Letter Agreement or any instrument or agreement required
hereunder.

     12.9 Choice of Law.  This Letter Agreement shall be governed
by  and construed according to the laws of the State of Colorado,
without giving effect to conflict of laws principles.

     12.10      Successors.  Except as otherwise provided herein,
this  Letter Agreement shall be binding upon, and shall inure  to
the  benefit  of,  the  parties hereto and their  successors  and
assigns.

     12.11      Headings.  The headings or captions  of  sections
and  paragraphs in this Letter Agreement are for reference  only,
do  not  define  or  limit the provisions  of  such  sections  or
paragraphs,  and  shall  not affect the  interpretation  of  this
Letter Agreement.

     12.12      Counterparts.   This  Letter  Agreement  may   be
executed  in  counterparts,  all of which  executed  counterparts
shall together constitute a single document.  Signature pages may
be  detached from the counterparts and attached to a single  copy
of this Letter Agreement to physically form one document.

     12.13       JURY   WAIVER.   BORROWER  AND   LENDER   HEREBY
VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY
RIGHT  TO  HAVE  A  JURY  PARTICIPATE IN  RESOLVING  ANY  DISPUTE
(WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) BETWEEN OR AMONG
BORROWER AND LENDER ARISING OUT OF OR IN ANY WAY RELATED  TO  THE
NOTE,  THIS  DOCUMENT  OR  ANY  OTHER  RELATED  DOCUMENT  OR  ANY
RELATIONSHIP  BETWEEN LENDER AND BORROWER.  THIS PROVISION  IS  A
MATERIAL  INDUCEMENT TO LENDER TO PROVIDE THE FINANCING DESCRIBED
HEREIN OR IN THE OTHER RELATED DOCUMENTS.

      [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

          Please  indicate  your agreement  with  the  terms  and
provisions  of  this Letter Agreement by signing where  indicated
below  and  returning an executed original to the undersigned  at
the address set forth above.

                                   Sincerely,

                                   Hexagon Investments, LLC
                                   a  Colorado limited  liability company

                                   By: s/Brian Fleischmann
                                   Name: Brian Fleischmann
                                   Its: V.P.

     AGREED TO AND ACCEPTED THIS
     28th day of September, 2000

     DELTA PETROLEUM CORPORATION
     a Colorado corporation

     By:  s/Roger A. Parker
          Roger A. Parker, President

                 PLEDGE AND SECURITY AGREEMENT

          THIS  PLEDGE AND SECURITY AGREEMENT (this "Agreement"),
dated   as  of  September  28,  2000,  made  by  DELTA  PETROLEUM
CORPORATION,  a  Colorado corporation having  an  office  at  555
Seventeenth   Street,   Suite  3310,   Denver,   Colorado   80202
("Pledgor"),  in  favor of HEXAGON INVESTMENTS, LLC,  a  Colorado
limited  liability  company, having an  office  at ______________
_____________________________________________________  ("Pledgee").

                      W I T N E S S E T H:

          WHEREAS, Pledgor is acquiring certain interests in  oil
and  gas properties (the "Interests") pursuant to, and identified
as  the  "Interests" in, that certain Conveyance, Assignment  and
Bill  of  Sale (the "Assignment") dated _______________, 2000  by
and  among Castle Offshore, L.L.C., a Louisiana limited liability
company,  BWAB  Limited  Liability Company,  a  Colorado  limited
liability  company, and Delta Petroleum Corporation,  a  Colorado
corporation,  a copy of which is attached hereto and incorporated
herein  as  Exhibit A which is being executed  and  delivered  in
accordance  with  the  terms of that certain  Purchase  and  Sale
Agreement (the "Purchase Agreement") dated August 4, 2000;

          WHEREAS,  Pledgor  is party to that certain  Promissory
Note  in  favor  of Pledgee dated of even date  herewith  in  the
principal amount of One Million Four Hundred Eighty Five Thousand
Four  Hundred Eighty Five and No/100 Dollars ($1,485,485.00)  (as
amended, supplemented or modified from time to time, the  "Note")
together with certain other loan documents executed in connection
therewith (the "Loan Documents");

          WHEREAS,   Pledgor  acknowledges  that,  without   this
Agreement, Pledgee would be unwilling to make the loan  evidenced
by the Note; and

          WHEREAS, to secure the obligations of Pledgor under the
Note,  Pledgor agrees to pledge and grant to Pledgee  a  security
interest  in  (i) the Interests, (ii) any other interest  in  the
underlying oil and gas properties (the "Properties") now owned or
hereafter  acquired by Pledgor and (iii) distributions, royalties
or  other payments to Pledgor in connection with or on account of
either  of  the  foregoing  (each,  a  "Pledged  Interest"   and,
collectively, the "Pledged Interests");

          NOW THEREFORE, in consideration of the premises and the
mutual  covenants  contained  herein,  and  for  other  good  and
valuable  consideration, the receipt and sufficiency whereof  are
hereby acknowledged, the parties hereto hereby covenant and agree
as follows:

        Section 1.     Pledge.   Pledgor hereby pledges, assigns,
hypothecates, delivers, sets over and grants to Pledgee a lien on
and  first priority security interest in and to all right,  title
and interest of Pledgor in the Pledged Interests, all options and
other  rights, contractual or otherwise, in respect thereof,  all
products   and  proceeds  thereof,  and  all  rents,   dividends,
distributions, royalties, liquidation proceeds, cash, instruments
and  other property to which Pledgor is entitled with respect  to
(i.e.,  arising  out of) the Pledged Interests,  whether  or  not
received  by  or otherwise distributed to Pledgor,  whether  such
rents, dividends, royalties, distributions, liquidation proceeds,
cash,  instruments and other property are paid or distributed  in
respect of operating profits, sales, rents, royalties, exchanges,
refinancing, condemnations or insured losses of the Properties or
otherwise (collectively, the "Distributions") in respect  of,  on
account  of  or  in  exchange  for any  or  all  of  the  Pledged
Interests, and Pledgor's rights, remedies and benefits under  the
Purchase  Agreement, the Assignment and any other  agreements  in
connection   with   the  Pledged  Interests  (collectively,   the
"Acquisition  Agreements")  all rights  and  powers  of   Pledgor
arising  under  the  Acquisition Agreements  or  under  law;  all
rights, remedies, powers, privileges, security interests,  liens,
and claims of Pledgor for damages arising out of or for breach of
or  default  under the Acquisition Agreements; and all  increases
and  profits  of  any of the foregoing and all proceeds  thereof.
The  security interests, rights, remedies and benefits of Pledgee
granted   by  this  Section  1  and  all  proceeds  thereof   are
hereinafter collectively referred to as the "Pledged Collateral."
Pledgor  irrevocably and unconditionally waives  all  rights,  if
any,  which may exist in its favor to purchase or acquire any  of
the  Pledged  Collateral to the extent the same may  arise  as  a
result  of the pledge thereof effected hereby, or the acquisition
or disposition thereof by Pledgee or any other person pursuant to
the  rights and remedies afforded Pledgee hereunder or under  the
Note or any exercise thereof.

 Section 2.     Security for Obligations.  This Agreement secures
(i)   the  prompt  payment when due, whether  at  the  respective
stated  maturity  dates, by acceleration  or  otherwise,  of  all
obligations and any other amounts due or to become due under  the
Note,   whether  for  principal,  interest,  fees,  expenses   or
otherwise,  and  (ii) any and all obligations of Pledgor  now  or
hereafter  existing  under this Agreement (all  such  obligations
being hereinafter collectively referred to as the "Obligations").

 Section 3.     Delivery of Evidence of Pledge.    At the request
of  Pledgee,   Pledgor shall deliver to Pledgee (i) such  Uniform
Commercial Code (the "Code") financing statements, deeds of trust
or  other documents, executed by Pledgor and in a form ready  for
filing,  as  may  be  necessary or desirable  to  perfect  and/or
evidence the security interests in the Pledged Collateral granted
to  Pledgee  pursuant  to this Agreement, and  (ii)  satisfactory
evidence  to  Pledgee  in  its sole  discretion  that  all  other
filings,  recordings,  registrations and  other  actions  Pledgee
deems  necessary or desirable to establish, preserve and  perfect
the  security  interests  and other  rights  granted  to  Pledgee
pursuant to this Agreement shall have been made.

  Section 4.     Events of Default.  The breach by Pledgor of any
covenant, representation, warranty or obligation hereunder and/or
the  occurrence of any default and/or Event of Default under  any
other  Loan Document shall constitute an "Event of Default" under
this  Agreement.  Prior to the occurrence of an Event of Default,
Pledgor shall be deemed to be the sole and exclusive owner of the
Pledged  Collateral,  subject  to the  lien  of  Pledgee  created
hereby.

  Section 5.     Representations, Warranties and Covenants.
Pledgor  represents and warrants to, and agrees with, Pledgee  as
follows:

Section 1.

          (1)  Pledgor is a duly formed corporation under the laws of the
State  of  Colorado, validly existing and in good standing  under
the  laws  of  the  State of Colorado, and  has  full  power  and
authority  to  execute and deliver to Pledgee this Agreement,  to
own  its properties and to perform the obligations and carry  out
the duties imposed upon Pledgor by this Agreement.

          (2)  Pledgor is, and at all times will be, the only record and
beneficial owner of the Pledged Collateral free and clear of  any
other interests, liens or encumbrances.

          The representations, warranties and covenants set forth
in  this  Section 5 shall survive the execution and  delivery  of
this Agreement.

  Section 6.     Further Assurances.  Pledgor agrees that at any
time  and  from  time to time Pledgor will promptly  execute  and
deliver  all  further  instruments and documents,  and  take  all
further action, that may be reasonably necessary or desirable, or
that  Pledgee  may request, in order to perfect and  protect  any
security interest granted or purported to be granted or to enable
Pledgee to exercise and enforce its rights and remedies hereunder
with respect to any Pledged Collateral.

 Section 7.     Distributions.  Upon the occurrence of an Event of
Default:

          (1)  All rights of Pledgor to receive Distributions and any and
all  proceeds arising from the Pledged Collateral (or any portion
thereof)  which Pledgor would otherwise be authorized to  receive
and  retain  shall  cease, and all such  rights  shall  thereupon
become  vested  in  Pledgee, who shall have  the  sole  right  to
receive such Distributions and proceeds.

          (2)  All Distributions and proceeds which are received by Pledgor
contrary  to  the provisions of paragraph (a) of this  Section  7
shall  be received in trust for the benefit of Pledgee, shall  be
segregated  from  other funds of Pledgor and shall  be  forthwith
paid over to Pledgee.

          (3)  All Distributions received by Pledgor in a partial or total
liquidation of the Properties shall, in the event that any of the
Obligations  remain outstanding at the time of  such  partial  or
total  liquidation, be paid to Pledgee and applied by Pledgee  to
such outstanding Obligations.

  Section 8.     Transfers and Other Liens; Additional Interests.
Pledgor   agrees,   so  long  as  any  of  the  Obligations   are
outstanding, not to assign, transfer or convey any of its  right,
title  and interest in any Pledged Collateral or create or suffer
to   be   created   any  mortgage,  pledge,  security   interest,
encumbrance or other lien on any Pledged Collateral.

 Section 9.      Appointment of Attorney-in-Fact.  Pledgor hereby
appoints  Pledgee  the attorney-in-fact for  Pledgor,  with  full
authority  in the place and stead of Pledgor and in the  name  of
Pledgor  or  otherwise, from time to time in Pledgee's discretion
to  take  any action and to execute any instrument which  Pledgee
may  deem  necessary or advisable to accomplish the  purposes  of
this   Agreement,  including,  without  limitation,  to  receive,
endorse  and  collect all Distributions and any instruments  made
payable to Pledgor representing any dividend, interest payment or
other  distribution in respect of the Pledged Collateral  or  any
part  thereof  and to give full discharge for the same.   Pledgor
agrees that the foregoing power constitutes a power coupled  with
an  interest  which  may not be revoked and which  shall  survive
until all of the Obligations shall have been indefeasibly paid in
full  and  satisfied, provided that except with  respect  to  the
execution  and  filing of the Uniform Commercial  Code  Financing
Statements,  the  foregoing  shall not  be  effective  until  the
occurrence of an Event of Default.

 Section 10.    Pledgee to Perform.  If Pledgor fails to perform
any  agreement contained herein, Pledgee may itself  perform,  or
cause performance of, such agreement, and the expenses of Pledgee
incurred  in connection therewith shall be payable by Pledgor  in
accordance with Section 17 hereof.

 Section 11.    Remedies Upon Default.  Upon the occurrence of any
Event of Default:

 (1)  Pledgee may, without any notice to Pledgor of the occurrence
of  such  Event  of Default, exercise in respect of  the  Pledged
Collateral, in addition to the other rights and remedies provided
for  herein or otherwise available to Pledgee, all the rights and
remedies of a secured party under the Code or otherwise at law in
effect  at that time, and Pledgee may also, without notice except
as  specified  below,  sell the Pledged Collateral  or  any  part
thereof in one or more parcels at public or private sale, at  any
exchange,  broker's  board  or at any  of  Pledgee's  offices  or
elsewhere, for cash, on credit or for future delivery,  and  upon
such  other  terms  as Pledgee may deem commercially  reasonable.
Pledgor  agrees  that,  to the extent notice  of  sale  shall  be
required  by  law,  at  least five (5) business  days  notice  to
Pledgor  of  the time and place of any public sale  or  the  time
after  which  any  private sale is to be  made  shall  constitute
reasonable notification.  Pledgee shall not be obligated to  make
any  sale  of  Pledged Collateral regardless of  notice  of  sale
having  been  given.  Pledgee may adjourn any public  or  private
sale  from  time  to time by announcement at the time  and  place
fixed  therefor,  and such sale may, without further  notice,  be
made at the time and place to which it was so adjourned.

         (2)  Pledgee may transfer all or any part of the Pledged
Collateral  into  Pledgee's name or the name of  its  nominee  or
nominees.

  (3)  Any Pledged Collateral or proceeds thereof held by Pledgee
as  Pledged  Collateral  and  all proceeds  thereof  received  by
Pledgee  in  respect  of any sale of, collection  from  or  other
realization  upon all or any part of the Pledged Collateral  may,
in  the  discretion of Pledgee, be held by Pledgee as  collateral
for,  and/or  then or at any time thereafter, be  applied  (after
payment of any amounts payable to Pledgee pursuant to Section  14
hereof),  in  whole  or in part by Pledgee  for  the  benefit  of
Pledgor, against all or any part of the Obligations and  in  such
order  as  Pledgee  shall  elect.  Any surplus  of  such  Pledged
Collateral  or  proceeds thereof held by  Pledgee  and  remaining
after  payment or satisfaction in full of all of the  Obligations
and  the  expenses  referred to in Section  14  hereof  shall  be
delivered  or  paid  over  to Pledgor or  to  whomsoever  may  be
lawfully entitled to receive such surplus.

 (4)  Pledgee shall be entitled, without notice to Pledgor, to its
rights  as  set forth in Section 7 hereof, and Pledgee  shall  be
entitled  to  deliver such notices to third parties as  shall  be
necessary  or  advisable to exercise such  rights;  however,  the
delivery  of  any  such  notice shall not  be  a  requirement  in
connection  with exercising the rights granted in Section  7  nor
shall the failure to send such notices affect Pledgee's rights to
the Distributions or otherwise hereunder.

 (5)  Each right, power and remedy of Pledgee provided for in this
Agreement or the Note or now or hereafter existing at law  or  in
equity or by statute shall be cumulative and concurrent and shall
be  in addition to every other such right, power or remedy.   The
exercise  or beginning of the exercise by Pledgee of any  one  or
more  of  the  rights, powers or remedies provided  for  in  this
Agreement or the Note or now or hereafter existing at law  or  in
equity  or  by  statute  or  otherwise  shall  not  preclude  the
simultaneous  or  later exercise by Pledgee  of  all  such  other
rights,  powers or remedies, and no failure or delay on the  part
of  Pledgee  to  exercise any such right, power or  remedy  shall
operate as a waiver thereof.

 Section 12.    Jurisdiction, Venue, Service of Process.  ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR  THE
NOTE  SHALL  BE  BROUGHT,  ONLY IN THE COURTS  OF  THE  STATE  OF
COLORADO,  DENVER COUNTY OR OF THE UNITED STATES OF  AMERICA  FOR
THE  DISTRICT  IN  WHICH THE COUNTY IS LOCATED.   PLEDGOR  HEREBY
ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY,  GENERALLY AND
UNCONDITIONALLY,  THE  EXCLUSIVE JURISDICTION  OF  THE  AFORESAID
COURTS.   PLEDGOR IRREVOCABLY CONSENTS TO THE SERVICE OF  PROCESS
OUT  OF  ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH  ACTION  OR
PROCEEDING  BY  THE MAILING OF COPIES THEREOF  BY  REGISTERED  OR
CERTIFIED  MAIL,  POSTAGE PREPAID, TO IT AT ITS  ADDRESS  AS  SET
FORTH  ABOVE.   PLEDGOR HEREBY IRREVOCABLY WAIVES  ANY  OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF  ANY
OF  THE  AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT  OF  OR  IN
CONNECTION WITH THIS AGREEMENT OR THE NOTE BROUGHT IN THE  COURTS
REFERRED  TO  ABOVE  AND  HEREBY FURTHER IRREVOCABLY  WAIVES  AND
AGREES  NOT  TO  PLEAD OR CLAIM IN ANY SUCH COURT THAT  ANY  SUCH
ACTION  OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN  BROUGHT
IN  AN INCONVENIENT FORUM.  NOTHING CONTAINED HEREIN SHALL AFFECT
THE  RIGHT  OF  PLEDGEE  TO SERVE PROCESS  IN  ANY  OTHER  MANNER
PERMITTED  BY  LAW OR TO COMMENCE LEGAL PROCEEDINGS OR  OTHERWISE
PROCEED AGAINST PLEDGOR IN ANY OTHER JURISDICTION.

  Section 13.    Jury Trial Waiver.  EACH OF PLEDGOR AND PLEDGEE
HEREBY  KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES  ANY  AND
ALL  RIGHTS  IT  MAY HAVE TO A TRIAL BY JURY IN  RESPECT  OF  ANY
LITIGATION  BASED ON, OR ARISING OUT OF, UNDER, OR IN  CONNECTION
WITH,  THIS  AGREEMENT  OR THE NOTE, OR ANY  COURSE  OF  CONDUCT,
COURSE  OF  DEALING, STATEMENTS (WHETHER VERBAL OR  WRITTEN),  OR
ACTIONS  OF  PLEDGOR  OR  PLEDGEE RELATING  TO  THE  LOAN.   THIS
PROVISION IS A MATERIAL INDUCEMENT FOR PLEDGEE ENTERING INTO THIS
AGREEMENT.

     Section 14.     Expenses.  Upon demand, Pledgor will pay to
Pledgee  the  amount  of  any  and all  expenses,  including  the
reasonable  fees  and expenses of Pledgee's counsel  and  of  any
experts  and  agents, which Pledgee may incur in connection  with
(i)  the sale of, collection from, or other realization upon, any
of  the  Pledged Collateral, (ii) the exercise or enforcement  of
any  of  Pledgee's  rights hereunder, or  (iii)  the  failure  by
Pledgor to perform or observe any of the provisions hereof.

 Section 15.    Amendments, Waivers, Etc.  No amendment or waiver
of  any provision of this Agreement, nor consent to any departure
by  Pledgor herefrom, shall in any event be effective unless  the
same  shall  be in writing and signed by Pledgee, and  then  such
waiver  or  consent  shall  be effective  only  in  the  specific
instance and for the specific purpose for which given.

        Section 16.    Notices.   All notices, demands, requests,
consents,   approvals,  and  other  communications  (collectively
"Notices"), required or permitted to be given hereunder, shall be
in  writing  and  sent by (i) hand delivery, (ii)  facsimile  (or
similar  device),  (iii)  registered or certified  mail,  postage
prepaid,  return  receipt  requested; or  (iv)  special  delivery
service (e.g., Federal Express, DHL, UPS, etc.); addressed to the
Person to be so notified as follows:

  If to Pledgee:    Hexagon Investments, LLC
                    _______________________
                    _______________________
                    Attention: ____________
                    Facsimile:_____________

  with copies to:   Brownstein Hyatt & Farber, P.C.
                    _______________________
                    _______________________
                    Attn: _________________
                    Fax No.: ______________

  If to Pledgor:    Delta Petroleum Corporation
                    555 17th Street, Suite 3300
                    Denver, Colorado 80202
                    Attention: Roger Parker
                    Fax No.: (303) 298-8251

 with a copy to:    __________________________________
                    __________________________________
                    __________________________________
                    __________________________________
                    Attn:______________________________
                    Fax No.: __________________________

Each  Notice  sent  in accordance with the requirements  of  this
section  shall  be deemed effectively given upon actual  receipt.
Each  person designated herein to receive any Notice  or  a  copy
thereof  may change the address at which, or the person to  whom,
Notice  or a copy thereof is to be delivered, by Notice given  in
accordance with the requirements of this section.

    Section 17.    Continuing Security Interest; Transfer.  This
Agreement  shall  create a continuing security  interest  in  the
Pledged Collateral and shall (i) remain in full force and  effect
until  the  indefeasible payment or satisfaction in full  of  the
Obligations,   (ii)  be  binding  upon  Pledgor,  its   permitted
transferees, representatives, successors and assigns,  and  (iii)
inure,   together  with  the  rights  and  remedies  of   Pledgee
hereunder,   to   the  benefit  of  Pledgee  and  its   permitted
transferees,  representatives, successors and  assigns.   Without
limiting  the  generality of the foregoing clause (iii),  Pledgee
may assign or otherwise transfer this Agreement together with the
Pledged  Collateral, the Note and any other  Obligations  to  any
other  persons,  and  such other persons shall  thereupon  become
vested  with  all  the  benefits in respect  thereof  granted  to
Pledgee  herein or otherwise.  Upon the indefeasible  payment  or
satisfaction  in  full of the Obligations, (x) Pledgor  shall  be
entitled  to the return, upon its request and at its expense,  of
such  portion  of the Pledged Collateral as shall not  have  been
sold  or  otherwise applied or forfeited pursuant  to  the  terms
hereof,  and (y) this Agreement shall be of no further  force  or
effect.

 Section 18.    Severability.  If for any reason any provision or
provisions  hereof are determined to be invalid and  contrary  to
any  existing or future law, such invalidity shall not impair the
operation of or affect those portions of this Agreement which are
valid.

   Section 19.    Governing Law; Terms.  This Agreement shall be
governed by, and construed in accordance with, the internal  laws
of  the State of Colorado (without giving effect to principles of
conflicts  of  law).   Unless  otherwise  defined  herein,  terms
defined  in  Article  9 of the Code are used  herein  as  therein
defined.

  Section 20.    Recitals.  The Recitals at the beginning of this
Agreement are hereby incorporated into the substantive provisions
of this Agreement.

  Section 21.    Counterparts.  This Agreement may be executed in
multiple   counterparts,  each  of  which  shall  constitute   an
original,  and  together  shall  constitute  one  and  the   same
agreement.

          IN  WITNESS WHEREOF, Pledgor has caused this  Agreement
to   be   executed   and   delivered  by  its   duly   authorized
representatives as of the date first set forth above.

                         PLEDGEE:

                         DELTA PETROLEUM CORPORATION, a Colorado corporation

                         By: s/Roger A. Parker
                         Name: Roger A. Parker
                         Title: President

                         PLEDGOR:

                         HEXAGON INVESTMENTS, LLC, a Colorado
                         limited liability company

                         By: s/Brian Fleischmann
                         Name: Brian Fleischmann
                         Title: V.P.

                       GUARANTY AGREEMENT

     THIS  GUARANTY  AGREEMENT  (this "Guaranty  Agreement"),  is
made as of September 28, 2000, by Roger A. Parker ("Parker")  and
Aleron  H.  Larson, Jr. ("Larson") jointly and severally  (Parker
and  Larson are individually and collectively referred to  herein
as  the  "Guarantors"), each of whose address is 555 17th Street,
Suite  3310, Denver, Colorado 80202, for the benefit  of  HEXAGON
INVESTMENTS,   LLC,   a   Colorado  limited   liability   company
("Hexagon"),  whose  address is ________________________________.

                      W I T N E S S E T H:

     WHEREAS,  Hexagon  has  made a loan (the  "Loan")  to  Delta
Petroleum  Corporation,  a  Colorado  corporation  ("Maker"),  as
evidenced by that certain Promissory Note in the amount of $1,485,485.00
of even date herewith from Maker payable to the  order
of  Hexagon (the "Note"), that certain Letter Agreement  of  even
date  herewith, this Guaranty Agreement and any other  instrument
or  documents now or hereafter evidencing, guaranteeing, securing
or   relating   to  the  indebtedness  evidenced  by   the   Note
(hereinafter  collectively referred to as the "Loan  Documents");
and

     WHEREAS, each Guarantor are each a director, officer  and/or
significant  shareholder  of Maker and  each  believes  he  shall
substantially benefit, directly or indirectly, from the making of
the Loan; and

     WHEREAS,  as  a  condition of making the Loan,  Hexagon  has
required  the  Guarantors to jointly and severally  guarantee  to
Hexagon  the  obligations of Maker under the Loan Documents,  and
certain other items as herein set forth.

     NOW, THEREFORE, in order to induce Hexagon to make the Loan,
and  for  other good and valuable consideration, the receipt  and
sufficiency  of  which  are hereby acknowledged,  each  Guarantor
hereby jointly and severally covenants and agrees as follows:

     1.    Each  Guarantor irrevocably, unconditionally,  jointly
and  severally  fully  guarantees the due,  prompt  and  complete
performance  of each and every one of the following  obligations:
(a)  the  payment  and performance by Maker  of  each  and  every
obligation  of Maker under the Note and the other Loan  Documents
to  which  it  is a party; and (b) the due, prompt  and  complete
payment of all costs and expenses (including, without limitation,
reasonable attorneys' fees) incurred by Hexagon in collection  or
enforcement  of  this Guaranty Agreement against  the  Guarantors
(the  obligations described in this Paragraph 1  are  hereinafter
collectively referred to as the "Indebtedness").

     2.    Each  Guarantor  hereby  grants  to  Hexagon,  in  the
absolute  discretion  of  Hexagon,  and  without  notice  to  any
Guarantor,  the power and authority to deal in any lawful  manner
with  the  Indebtedness  and  the  other  obligations  guaranteed
hereby, and without limiting the generality of the foregoing, the
further power and authority, from time to time:

          (a)   to  renew,  compromise,  extend,  accelerate   or
otherwise  change the time or place of payment of or to otherwise
change the terms of the Indebtedness;

          (b)   to  modify or to waive any of the  terms  of  the
obligations guaranteed hereby;

          (c)   to take and hold security for the payment of  the
Indebtedness   and/or  performance  of  the   other   obligations
guaranteed  hereby  and  to impair, exhaust,  exchange,  enforce,
waive or release any such security;

          (d)   to direct the order or manner of sale of any such
security as Hexagon, in its discretion, may determine;

          (e)   to  grant any indulgence, forbearance  or  waiver
with  respect to the Indebtedness or any of the other obligations
guaranteed hereby; and

          (f)  to release or waive rights against any one or more
Guarantors  without releasing or waiving any rights  against  any
other Guarantor.

The  liability of each Guarantor hereunder shall not be affected,
impaired  or  reduced in any way by any action taken  by  Hexagon
under the foregoing provisions or any other provision hereof,  or
by any delay, failure or refusal of Hexagon to exercise any right
or  remedy it may have against Maker or any other person, firm or
corporation, including other guarantors, if any, liable  for  all
or  any  part of the Indebtedness or any of the other obligations
guaranteed hereby.

     3.   The Guarantors agree that if any of the Indebtedness is
not  fully  and timely paid or performed according to  the  tenor
thereof,  whether  by acceleration or otherwise,  the  Guarantors
shall  immediately upon receipt of written demand  therefor  from
Hexagon  pay  all of the Indebtedness hereby guaranteed  in  like
manner  as if the Indebtedness constituted the direct and primary
obligation of the Guarantors.  The Guarantors shall not have  any
right of subrogation as a result of any payment hereunder or  any
other payment made by the Guarantors or a Guarantor on account of
the  Indebtedness, and each Guarantor hereby waives, releases and
relinquishes  any  claim based on any right of  subrogation,  any
claim  for  unjust  enrichment or any  other  theory  that  would
entitle a Guarantor to a claim against Maker based on any payment
made  hereunder or otherwise on account of the Indebtedness until
Hexagon is paid in full.

     4.    This  Guaranty  Agreement and the obligations  of  the
Guarantors  hereunder shall be continuing and  irrevocable  until
the  Indebtedness has been satisfied in full. Notwithstanding the
foregoing  or  anything else set forth herein,  and  in  addition
thereto,  if at any time all or any part of any payment  received
by  Hexagon  from Maker or a Guarantor under or with  respect  to
this  Guaranty Agreement is or must be rescinded or returned  for
any   reason   whatsoever  (including,  but   not   limited   to,
determination  that  said payment was a  voidable  preference  or
fraudulent    transfer    under   insolvency,    bankruptcy    or
reorganization  laws),  then  Guarantors'  obligations  hereunder
shall,  to  the extent of the payment rescinded or  returned,  be
deemed  to  have  continued  in existence,  notwithstanding  such
previous   receipt  of  payment  by  Hexagon,   and   Guarantors'
obligations  hereunder  shall continue  to  be  effective  or  be
reinstated  as  to  such  payment, all as  though  such  previous
payment  to Hexagon had never been made.  The provisions  of  the
foregoing  sentence shall survive termination  of  this  Guaranty
Agreement,  and  shall remain a valid and binding  obligation  of
each Guarantor until satisfied.

     5.    Each  Guarantor hereby waives notice of acceptance  of
this  Guaranty  Agreement by Hexagon and this Guaranty  Agreement
shall  immediately be binding upon each Guarantor.  Any Guarantor
who  executes this Guaranty Agreement shall be fully bound hereby
regardless  of  whether  or not any other Guarantor  subsequently
executes this Guaranty Agreement.

     6.    Each Guarantor hereby waives and agrees not to  assert
or take advantage of:

          (a)   any right to require Maker to proceed against any
other  person or to proceed against or exhaust any security  held
by  Maker  at any time or to pursue any other remedy  in  Maker's
power  before  proceeding  against any  one  or  more  Guarantors
hereunder;

          (b)   any  right to require Hexagon to proceed  against
Maker  or  any other person or to proceed against or exhaust  any
security  held  by  Hexagon at any time or to  pursue  any  other
remedy  in Hexagon's power before proceeding against any  one  or
more Guarantors hereunder;

          (c)   any  defense  that may arise  by  reason  of  the
incapacity, lack of authority, death or disability of  any  other
person or persons or the failure of Hexagon to file or enforce  a
claim  against the estate (in administration, bankruptcy  or  any
other proceeding) of any other person or persons;

          (d)    demand,  presentment  for  payment,  notice   of
non-payment, protest, notice of protest and all other notices  of
any kind, including, without limitation, notice of the existence,
creation  or  incurring of any new or additional indebtedness  or
obligation or of any action or non-action on the part of  Hexagon
or any endorser or creditor of Hexagon or any Guarantor or on the
part  of  any  other person whomsoever under this  or  any  other
instrument  in  connection  with any obligation  or  evidence  of
indebtedness   held  by  Hexagon  or  in  connection   with   the
Indebtedness;

          (e)   any election by Hexagon to exercise any right  or
remedy it may have against Maker or any security held by Hexagon,
including,  without limitation, the right to foreclose  upon  any
such security by judicial or non-judicial sale, without affecting
or  impairing  in any way the liability of Guarantors  hereunder,
except  to  the  extent the indebtedness has been paid,  and  the
Guarantors  waive  any  default  arising  out  of  the   absence,
impairment or loss of any right of reimbursement, contribution or
subrogation  or  any  other  right or remedy  of  the  Guarantors
against  Maker or any such security whether resulting  from  such
election by Hexagon or otherwise.  The Guarantors understand that
if  all or any part of the liability of Maker to Hexagon for  the
Indebtedness is secured by real property the Guarantors shall  be
liable   for  the  full  amount  of  their  liability  hereunder,
notwithstanding foreclosure on such real property by trustee sale
or  any  other reason impairing the Guarantors' right to  proceed
against Maker; and

          (f)   all duty or obligation on the part of Hexagon  to
perfect, protect, not impair, retain or enforce any security  for
the  payment  of the Indebtedness or performance of  any  of  the
other obligations guaranteed hereby.

     7.    All  existing and future indebtedness of Maker to  the
Guarantors  or to any person controlled or owned in whole  or  in
part by any of the Guarantors and, the right of the Guarantors to
withdraw or to cause or permit any person controlled or owned  in
whole or in part by any of the Guarantors to withdraw any capital
invested by any Guarantor in Maker, is hereby subordinated to the
Indebtedness  at  any  time  after a  default  exists  under  the
Indebtedness.  Furthermore, without the prior written consent  of
Hexagon,  such subordinated indebtedness shall not  be  paid  and
such capital shall not be withdrawn in whole or in part nor shall
any Guarantor accept or cause or permit any person controlled  or
owned in whole or in part by a Guarantor to accept any payment of
or  on  account  of any such subordinated indebtedness  or  as  a
withdrawal  of capital at any time after a default  exists  under
the  Indebtedness.   Any payment received by  the  Guarantors  in
violation  of  this Guaranty Agreement shall be received  by  the
person  to  whom paid in trust for Hexagon, and Guarantors  shall
cause  the  same to be paid to Hexagon immediately on account  of
the  Indebtedness.  No such payment shall reduce or affect in any
manner  the  liability  of  the Guarantors  under  this  Guaranty
Agreement.

     8.    The  amount  of  each Guarantor's  liability  and  all
rights,  powers  and  remedies  of  Hexagon  hereunder  shall  be
cumulative  and  not  alternative and  such  rights,  powers  and
remedies  shall be in addition to all rights, powers and remedies
given to Hexagon under any document or agreement relating in  any
way  to the terms and provisions hereof or otherwise by law. With
respect to each Guarantor, this Guaranty Agreement is in addition
to and exclusive of the guaranty of any other Guarantor executing
this  Guaranty  Agreement or any other  person  or  entity  which
guarantees   the   Indebtedness  and/or  the  other   obligations
guaranteed hereby.

     9.    The  liability of each Guarantor under  this  Guaranty
Agreement   shall   be   an  absolute,  direct,   immediate   and
unconditional guarantee of payment and not of collectability. The
obligations  of each Guarantor hereunder are independent  of  the
obligations of Maker or any other party which may be initially or
otherwise   responsible  for  performance  or  payment   of   the
obligations  hereunder guaranteed and each other Guarantor,  and,
in  the  event  of  any default hereunder, a separate  action  or
actions  may  be brought and prosecuted against any one  or  more
Guarantors, whether or not Maker is joined therein or a  separate
action  or  actions  are  brought  against  Maker.   Hexagon  may
maintain successive actions for other defaults.  Hexagon's rights
hereunder  shall not be exhausted by its exercise of any  of  its
rights  or  remedies or by any such action or by  any  number  of
successive  actions  until and unless the Indebtedness  has  been
paid in full.

     10.   The  Guarantors hereby agree to pay to  Hexagon,  upon
demand,  reasonable  attorneys' fees  and  all  costs  and  other
expenses  which  Hexagon  expends  or  incurs  in  collecting  or
compromising  the  Indebtedness or  in  enforcing  this  Guaranty
Agreement  against each Guarantor whether or not suit  is  filed,
including,  without  limitation, all costs, attorneys'  fees  and
expenses  incurred by Hexagon in connection with any  insolvency,
bankruptcy,   reorganization,  arrangement   or   other   similar
proceedings  involving a Guarantor which in any  way  affect  the
exercise  by  Hexagon of its rights and remedies hereunder.   Any
and  all  such costs, attorneys' fees and expenses  not  so  paid
shall  bear  interest at an annual interest  rate  equal  to  the
lesser  of  (i)  18%,  or  (ii) the  highest  rate  permitted  by
applicable law, from the date incurred by Hexagon until  paid  by
the Guarantors.

     11.   Should  any  one or more provisions of  this  Guaranty
Agreement be determined to be illegal or unenforceable, all other
provisions nevertheless shall be effective.

     12.   No  provision of this Guaranty Agreement or  right  of
Hexagon hereunder can be waived nor can any Guarantor be released
from  such Guarantor's obligations hereunder except by a  writing
duly  executed by Hexagon.  This Guaranty Agreement  may  not  be
modified,  amended,  revised,  revoked,  terminated,  changed  or
varied  in  any way whatsoever except by the express terms  of  a
writing duly executed by Hexagon.

     13.  When the context and construction so require, all words
used in the singular herein shall be deemed to have been used  in
the  plural,  and  the masculine shall include the  feminine  and
neuter  and  vice versa.  The word "person" as used herein  shall
include  any individual, company, firm, association, partnership,
corporation, trust or other legal entity of any kind whatsoever.

     14.   If  any  or  all of the Indebtedness  is  assigned  by
Hexagon,  this Guaranty Agreement shall automatically be assigned
therewith in whole or in part, as applicable, without the need of
any express assignment and when so assigned, each Guarantor shall
be  bound as set forth herein to the assignee(s) without  in  any
manner  affecting  such Guarantor's liability hereunder  for  any
part of the Indebtedness retained by such Hexagon.

     15.    Parker's   Social  Security  Number  is_____________.
Larson's Social Security Number is ___________________.

     16.   This Guaranty Agreement shall inure to the benefit  of
and   bind  the  heirs,  legal  representatives,  administrators,
executors, successors and assigns of Hexagon and Guarantors.

     17.   This  Guaranty  Agreement shall  be  governed  by  and
construed  in accordance with the laws of the State  of  Colorado
without regard to principles of conflicts of law.  In any  action
brought  under  or arising out of this Guaranty  Agreement,  each
Guarantor  hereby consents to the jurisdiction of  any  competent
court  within the City & County of Denver, Colorado and  consents
to service of process by any means authorized by the laws of such
State.  Except as provided in any other written agreement now  or
at any time hereafter in force between Hexagon and any Guarantor,
this Guaranty Agreement shall constitute the entire agreement  of
Guarantors  with  Hexagon  with respect  to  the  subject  matter
hereof,   and  no  representation,  understanding,   promise   or
condition  concerning the subject matter hereof shall be  binding
upon  Hexagon or any Guarantor unless expressed herein  or  in  a
writing signed by Guarantors and Hexagon.

     18.   All notices, demands, requests or other communications
to be sent by one party to the other hereunder or required by law
shall  be  in  writing and shall be deemed to have  been  validly
given or served by delivery of same in person to the addressee or
by  depositing  same with Federal Express for next  business  day
delivery or by depositing same in the United States mail, postage
prepaid,  registered or certified mail, return receipt requested,
addressed as follows:

          Hexagon:       ________________________
                         ________________________
                         Attention:______________
                         Telephone:______________

     With a copy to:     ________________________
                         ________________________
                         ________________________
                         Telephone:______________

     Guarantor:          Roger A. Parker
                         555 17th Street, Suite 3310
                         Denver, Colorado 80202

     Guarantor:          Aleron H. Larson, Jr.
                         555 17th Street, Suite 3310
                         Denver, Colorado 80202

     With a copy to:     __________________________
                         __________________________
                         __________________________

     All  notices,  demands and requests shall be effective  upon
such  personal  delivery  or upon being  deposited  with  Federal
Express  or in the United States mail as required above. However,
with  respect  to notices, demands or requests so deposited  with
Federal Express or in the United States mail, the time period  in
which  a  response to any such notice, demand or request must  be
given  shall commence to run from the next business day following
any  such  deposit  with Federal Express or, in  the  case  of  a
deposit in the United States mail as provided above, the date  on
the  return  receipt of the notice, demand or request  reflecting
the  date  of delivery or rejection of the same by the  addressee
thereof. Rejection or other refusal to accept or the inability to
deliver  because of changed address of which no notice was  given
shall  be  deemed to be receipt of the notice, demand or  request
sent.   By  giving to the other party hereto at  least  30  days'
written  notice thereof in accordance with the provisions hereof,
the  parties  hereto shall have the right from time  to  time  to
change  their respective addresses and each shall have the  right
to  specify  as its address any other address within  the  United
States of America.

     19.    Each  Guarantor  hereby  agrees  that  this  Guaranty
Agreement,  the Indebtedness and all other obligations guaranteed
hereby,  shall  remain  in full force and  effect  at  all  times
hereafter until paid and/or performed in full notwithstanding any
action  or  undertakings by, or against, Hexagon, any  Guarantor,
and/or  any  member in Hexagon in any proceeding  in  the  United
States  Bankruptcy  Court,  including,  without  limitation,  any
proceeding  relating  to  valuation of  collateral,  election  or
imposition  of secured or unsecured claim status upon  claims  by
Hexagon  pursuant to any Chapter of the Bankruptcy  Code  or  the
Rules of Bankruptcy Procedure as same may be applicable from time
to time.

     20.   This Guaranty Agreement may be executed in any  number
of  counterparts,  each  of which shall be  effective  only  upon
delivery and thereafter shall be deemed an original, and  all  of
which shall be taken to be one and the same instrument, with  the
same  effect  as  if  all  parties hereto  had  signed  the  same
signature  page.   Any signature page of this Guaranty  Agreement
may  be  detached from any counterpart of this Guaranty Agreement
without impairing the legal effect of any signatures thereon  and
may be attached to another counterpart of this Guaranty Agreement
identical  in form hereto but having attached to it one  or  more
additional  signature pages.  Execution by  any  Guarantor  shall
bind  such Guarantor regardless of whether any one or more  other
Guarantors execute this Guaranty Agreement.

          [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

     IN WITNESS WHEREOF, the undersigned Guarantors have executed
this  Guaranty  Agreement  as of the day  and  year  first  above
written.

                              GUARANTORS:

                              s/Roger A. Parker
                              Roger A. Parker

                              s/Aleron H. Larson, Jr.
                              Aleron H. Larson, Jr.

STATE OF COLORADO             )
                              )  ss.
COUNTY OF DENVER              )

     The  foregoing  instrument was acknowledged before  me  this
28th day of September, 2000, by Roger A. Parker.

     Witness my hand and notarial seal.

     My commission expires: 5-18-01

[SEAL]                             s/Sheryl K. Shelton
                                      Notary Public

STATE OF COLORADO             )
                              )  ss.
COUNTY OF DENVER              )

     The  foregoing  instrument was acknowledged before  me  this
28th day of September, 2000, by Aleron H. Larson, Jr.

     Witness my hand and notarial seal.

     My commission expires: 5/18/01

[SEAL]
                             s/Sheryl K. Shelton
                              Notary Public

                         PROMISSORY NOTE

$1,485,485.00                                  September 28, 2000
                                                 Denver, Colorado

     FOR VALUE RECEIVED, the undersigned DELTA PETROLEUM
CORPORATION, a Colorado corporation ("Maker"), whose address is
555 17th Street, Suite 3310, Denver, Colorado 80202, promises to
pay to the order of HEXAGON INVESTMENTS, LLC, a Colorado limited
liability company ("Holder"), whose address is _________________
______________________________________________, or at such other
address as Holder may from time to time designate, the principal
sum of One Million Four Hundred Eighty Five Thousand Four Hundred
Eighty Five and No/100 Dollars ($1,485,485.00), or so much
thereof as may be advanced by Holder hereunder and remain unpaid
from time to time, together with interest on said principal sum
or such part thereof disbursed by Holder, from the date of each
disbursement made by Holder until repaid in full, at the rate and
at the times set forth below.  The loan evidenced by this
Promissory Note (the "Note") is not a revolving loan and,
therefore, Maker may not borrow, repay and reborrow the principal
indebtedness evidenced hereby.

     1.        Definitions.  As used herein, the following terms shall
have the indicated meanings (definitions appear in alphabetical
order and defined terms used within definitions are defined
either above or in the appropriate alphabetical place within this
Paragraph 1):

          (a)       Default Fee.  An amount equal to one percent (1%) of
the outstanding principal balance and all accrued but unpaid
interest and fees due hereunder, including, without limitation,
any previously assessed Default Fee(s).

          (b)       Guaranty Agreement.  That certain Guaranty Agreement
dated of even date herewith executed jointly and severally by
Roger A. Parker and  Aleron H. Larson Jr.  for the benefit of
Holder.

          (c)       Loan Documents.  Collectively, all documents and
instruments now or hereafter evidencing, securing, guaranteeing
and/or relating to the indebtedness evidenced by this Note, as
the same may be amended or replaced from time to time hereafter,
including, without limitation, this Note, that certain Letter
Agreement dated contemporaneously herewith, and the Guaranty
Agreement.

          (d)       Maturity Date.  October 30, 2000.

          (e)       Maximum Rate.  The maximum non-usurious rate of
interest per annum permitted by whichever of applicable United
States federal law or Colorado law permits the higher interest
rate, including, to the extent permitted by such applicable law,
any amendments thereof or any new law hereafter coming into
effect to the extent a higher maximum non-usurious rate of
interest is permitted thereby.  The Maximum Rate shall be applied
by taking into account all amounts characterized by applicable
law as interest on the debt evidenced by this Note, so that the
aggregate of all interest does not exceed the maximum
non_usurious amount permitted by applicable law.

          (f)  Note.  This Promissory Note.

     2.        Interest Rate.  The outstanding principal balance of
this Note shall bear interest, from the date of each disbursement
of the loan proceeds made by Holder until repaid in full, at a
rate per annum at all times equal to fifteen percent (15%).
Interest shall accrue and compound monthly on the outstanding
principal balance of this Note.  Interest on the principal
balance of this Note shall be due and payable on the Maturity
Date.

     3.        Accrual of Interest.  Unless the due date of this Note
is accelerated upon the occurrence of an Event of Default (as
hereinafter defined), no payment of principal or interest shall
be due hereunder until the Maturity Date, when the outstanding
principal balance of this Note, together with all accrued
interest thereon and any other sums due under this Note, shall be
immediately due and payable.

     4.        Payment of Interest.  All amounts due hereunder shall
be payable in lawful money of the United States of America.
Accrued interest and any fees incurred by Borrower hereunder
shall bear interest at the same rate as the principal of this
Note.

     5.        Prepayment.  Maker may prepay this Note upon ten (10)
days' prior written notice to Holder without premium.  Maker
shall not be entitled to reborrow any amounts prepaid hereunder.

     6.        Time.  Time is of the essence hereof.

     7.        Events of Default.  At the option of Holder, the
payment of all principal, any interest accrued thereon and any
other sums then due and payable under the provisions of this Note
will be accelerated and such principal, interest and such other
sums shall be immediately due and payable without notice or
demand upon the earlier to occur of any of the following events
(an "Event of Default"):

          (a)       the failure of Maker to pay any amounts hereunder or
under any other Loan Document when due, subject to any applicable
grace or cure period set forth herein or in such other Loan
Document;

          (b)       any other default hereunder or under any other Loan
Document, including, without limitation, any Event of Default set
forth in any other Loan Document, not cured within any applicable
grace period;

          (c)       the filing by Maker, any guarantor of the obligations
represented by this Note, or any Affiliate of Maker or any such
guarantor of a voluntary petition in bankruptcy; the commencement
of a bankruptcy or insolvency proceeding against any such party
(unless stayed or dismissed within 30 days); the filing by any
such party of an assignment for the benefit of creditors; or the
attachment, execution or judicial seizure, whether by enforcement
of money judgment, writ or warrant of attachment or any other
process, of all or substantially all of the assets of Maker or
such party which is not released within sixty (60) days after
such action; and

     8.        Default Fee. Upon (i) the failure of the Maker to
satisfy in full its payment obligations hereunder on or before
the Maturity Date or (ii) an Event of Default, and on every
thirtieth (30th) day thereafter, a Default Fee shall be assessed
against the Maker and shall be due and owing to Holder hereunder;
provided, however, as to any given Event of Default no further
assessments of Default Fee shall be made once such Event of
Default is cured to the satisfaction of Lender. Any assessment of
a Default Fee shall accrue interest hereunder from the date
assessed as though it was included in the principal amount due
hereunder.  Notwithstanding anything in this Section 8 to the
contrary,  in the event the Default Fee, together with the
interest accruing hereunder, exceed the Maximum Rate, the Default
Fee shall not be assessed and any unpaid principal and/or other
amounts due hereunder shall instead bear interest at the Maximum
Rate.

     9.   Release.  Each Maker, endorser, cosigner and guarantor
of this Note hereby expressly grants to Holder the right to
release or to agree not to sue any other person, or to suspend
the right to enforce this Note against such other person or to
otherwise discharge such person; and each such Maker, endorser,
cosigner and guarantor hereby agrees that the exercise of such
rights by Holder shall have no effect on the liability of any
other person, primarily or secondarily liable hereunder.

     10.       Waivers.  Maker, for itself and its legal
representatives, successors and assigns, expressly waives
presentment, protest, demand, notice of dishonor, notice of
nonpayment, notice of maturity, notice of protest, presentment
for the purposes of accelerating the maturity, and diligence in
collection, and consents that Holder may extend the time for
payment or otherwise modify the terms of payment of any part or
the whole of the debt evidenced hereby.

     11.       Attorneys' Fees.  If Holder employs counsel to collect
this Note or otherwise to exercise its remedies, including
without limitation filing a claim in connection with any
bankruptcy or insolvency proceedings, Maker shall pay the
reasonable fees, costs and expenses of Holder, including without
limitation attorneys' fees, whether or not suit is brought.

     12.       Limitations on Interest.  This Note is subject to the
express condition that at no time shall Maker be obligated or
required to pay interest on the principal balance at a rate which
could subject Holder to either civil or criminal liability as a
result of being in excess of the Maximum ate which Maker is
permitted by law to contract or agree to pay.  If by the terms of
this Note Maker is at any time required or obligated to pay
interest on the principal balance at a rate in excess of such
Maximum Rate, the rate of interest under this Note shall be
deemed to be immediately reduced to such Maximum Rate and
interest payable hereunder shall be computed at such Maximum
Rate.

     13.       Notice.  Whenever any party hereto shall desire to, or
be required to, give or serve any notice, demand, request or
other communication with respect to this Note, each such notice,
demand, request or communication shall be in writing and shall be
effective only if the same is delivered by personal service
(including, without limitation, courier or express service) or
mailed certified or registered mail, postage prepaid, return
receipt requested, or sent by telegram or facsimile transmission
with confirmation of receipt, to the parties at the addresses
shown throughout this Note or such other addresses which the
parties may provide to one another in accordance herewith.  If
notice is sent to Holder, a copy of such notice shall also be
given to Steven C. Demby, Esq., Brownstein Hyatt & Farber, P.C.,
410 17th Street, Suite 2222, Denver, Colorado 80202.  If notice
is sent to Maker, a copy of such notice shall also be given to
Roger A. Parker, c/o Delta Petroleum Corporation, 555 17th
Street, Suite 3310, Denver, Colorado 80202.  Notice delivered
personally will be effective upon delivery to an authorized
representative of the party at the designated address; notices
sent by mail in accordance with the above paragraph will be
effective upon execution by the addressee of the Return Receipt.
Notices delivered via facsimile will be effective upon
confirmation of receipt.

     14.       Recourse Obligation.  This Note is specifically a full
recourse obligation, and nothing herein contained shall be
construed to prevent Holder from proceeding personally against
Maker under this Note.

     15.       Business Purpose.  Maker certifies that this loan is
obtained for business or commercial purposes and that the
proceeds thereof will not be used primarily for personal, family,
household or agricultural purposes.

     16.       Representations and Warranties.  Maker makes the
following representations and warranties, which shall be deemed
to be continuing representations and warranties in favor of
Holder, and covenants and agrees to perform all acts necessary to
maintain the truth and correctness, in all material respects, of
the following:

          (a)       Maker's Employer Identification Number is: 84-1060803
and its principal place of business is 555 17th Street, Suite
3310, Denver, Colorado 80202.

          (b)       Maker agrees that it shall not, without prior written
notification to Holder, move or otherwise change its principal
place of business.

     17.       CHOICE OF LAW.  THIS NOTE WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF COLORADO
WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.  THE PARTIES
FURTHER AGREE THAT IN THE EVENT OF DEFAULT, THIS NOTE MAY BE
ENFORCED IN ANY COURT OF COMPETENT JURISDICTION IN THE STATE OF
COLORADO AND THEY DO HEREBY SUBMIT TO THE JURISDICTION OF ANY AND
ALL SUCH COURTS REGARDLESS OF THEIR RESIDENCE OF WHERE THIS NOTE
OR ANY ENDORSEMENT HEREOF MAY BE EXECUTED.

     18.       WAIVER OF TRIAL BY JURY.  TO THE MAXIMUM EXTENT
PERMITTED BY APPLICABLE LAW, AND ACKNOWLEDGING THAT THE
CONSEQUENCES OF SAID WAIVER ARE FULLY UNDERSTOOD, MAKER HEREBY
EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY, THE RIGHT TO
INTERPOSE ANY DEFENSE BASED UPON ANY STATUTE OF LIMITATIONS, ANY
CLAIM OF LACHES AND ANY SET-OFF OR COUNTERCLAIM OF ANY NATURE OR
DESCRIPTION IN ANY ACTION OR PROCEEDING INSTITUTED AGAINST MAKER
OR ANY OTHER PERSON LIABLE ON THIS NOTE.  MAKER ACKNOWLEDGES AND
AGREES THAT HOLDER SHALL HAVE ALL RIGHTS OF A THIRD PARTY
CREDITOR WITH RESPECT TO THIS NOTE, AND MAKER WAIVES AND RELEASES
FOR ITSELF ALL CLAIMS TO THE CONTRARY.

SIGNATURE PAGE TO THAT CERTAIN PROMISSORY NOTE GIVEN BY DELTA
PETROLEUM CORPORATION, A COLORADO CORPORATION, TO HEXAGON
INVESTMENTS, LLC, A COLORADO LIMITED LIABILITY COMPANY

     EXECUTED as of the date set forth above.

                              DELTA PETROLEUM CORPORATION,
                              a Colorado corporation

                             By:s/Roger A. Parker
                              Roger A. Parker, President

STATE OF COLORADO             )
                              ) ss.
COUNTY OF DENVER              )

     The foregoing instrument was acknowledged before me this
28th day of September, 2000, by Roger A. Parker as President of
Delta Petroleum Corporation.

     Witness my hand and notarial seal.

     My commission expires: 5-18-01

[SEAL]
                              s/Sheryl K. Shelton
                              Notary Public<PAGE>

                                     ANNEX 1

                              SIMSCAN 2 USER'S LIST

Koo Foundation Sun Yat Sen Hosp.           1996           Taiwan

People Hospital of Guandong                1997           Guangzhu (China)

                                           1998           Iran

                                           1998           Cairo (Egypt)

Instituto Salvadoreno del Segu             1998           El Salvador

Shezhen HOSPITAL                           1998           Shezhen (China)

                                           1998           Turkey

                             SIMSCAN 2 WITH CT MODE

Jean Minjoz Teaching Hospital              1993           Besancon (25)(1)

Montbeliard Hospital                       1994           Montbeliard (25)

French Red Cross                           1995           Paris (75)

IGR 1                                      1995           Villejuif (94)

IGR 2                                      1996           Villejuif (94)

Habib Bourguiba Teaching Hospital          1996           Sfax (Tunisia)

--------

(1)   These numbers indicate the geographical "Department" in which the
      hospital is located.

<PAGE>

                               SIMIC'S USER'S LIST

Clinique(2) Sainte Marie                   1996           Chalon S/Saone (F)

Clinique Beauregard                        1996           Marseille (F)

Clinique du Pont St Vaast                  1997           Douai (F)

Oncological Center                         1997           Dunkirk (F)

De la Salle University                     1997           Cavite (Philippines)

Istanbul University                        1998           Istanbul (Turkey)

Clinique Sainte Clotilde                   1998           La Reunion (F)

Clinique de Savoie                         1998           Annemasse (F)

----------
(2)   In France, a "clinique" designates a private hospital. It is usually of
      more modest size than a hospital. A "hopital" is owned by a government
      agency or other public authority

<PAGE>

                                     ANNEX 2

                                   TERRITORIES

Distribution agreements with respect to the following countries and geographical
areas:

Europe
        European Union
        Switzerland
        Eastern Europe
        Scandinavia

Asia
        Near East
        Middle East
        Japan
        China
        Indonesia
        India

Africa

North America

South America

Australia

<PAGE>

ANNEX 3

                                  PRODUCT LIST

SIMSCAN 2 Simulator/SIMSCAN NT including:

I/      Simulation set

        X-Ray/Imaging set

II      Tomography

III     Radioscopy numeration "FLO"

IV      "BESTTOP" tray

1/      Naked "Besttop" tray as replacement for SIMSCAN 2 full tray
2/      Naked tray only
3/      Naked tray with adaptator for installation on SIEMENS ZXT table
4/      Naked tray with adaptator for installation on VARIAN/CLINAC table
5/      Naked tray with adaptator for installation on GEMS 760S table
6/      Inclined plane
7/      Window
8/      Additional arm rest
9/      Additional foot stop

V       OPTIONS

1/      Manual accessories rack under collimating lens
2/      Motorized accessories rack under collimating lens
3/      Motorized table tray rotator
4/      Laser centering system (2 lateral, 1 sagittal)
5/      Laser retrocentering tool
6/      21" screen in lieu of the 14"
7/      Graduated plates
8/      PROFILE conformator for wall mounting
9/      PROFILE conformator for ceiling mounting
10/     Manual mobile conformator
11/     Digital mobile conformator
12/     Antidiffusing screen 428x 428 cm, 2mm thick
13/     Antidiffusing screen 480x438 cm, 5mm thick
14/     36/43 cassette
15/     Adaptor for 30/40 cassette

<PAGE>

16/     Adaptor for 24/30 cassette
17/     Set of leg rests
18/     Specific interface ETHERNET or TOKEN RING
        by SIMSCAM 2 and/or SCANVIEW on patient data network
        and/or on dosimetric system
19/     Archiving of SCANVIEW pictures on optical disk 1.2 Go HP
20/     Duplications for SCANVIEW

SIMICS SIMULATOR including:

I/      Electromechanical set

II/     Remote controlled isocentric table

III/    Command console

IV/     Radiology/Imaging set

V/      Options

1/      Motorized X, Y movements for the table tray
2/      Motorized DSA(3) adjustable for 80 or 100 cm
3/      Digital posting of the field (X,Y)
4/      Adaptor for cassettes 30/40 and 24/30
5/      Laser centering systems (2 lateral, 1 sagittal)
6/      Manual accessory holder under collimating lense

THYROID IMAGER "yVIEW"

Options

1/      Ethernet network
2/      Diverging collimating lense
3/      laser printer

----------
(3)   I would need to have the full name (not initials) in French in order to
      more precisely translate
<PAGE>

                                     ANNEX 4

                          PRICE AND DELIVERY CONDITIONS

SALES MECASERTO TO COM.S.A.

                                                      Unit price

421116  SIMSCAN 2 + BG Radiology                       1 296 372
421113  SIMSCAN 2 + Tomo + HG Radiology                1 842 123
421117  Simplified simulator + BG Radiology              900 782
421151  Fixed DSA simplified simulator                   513 469
42113   Accessories
421141  SIMSCAN 2 installations +  Tomo                   96 529
421141  SIMSCAN 2 installations + Tomo + Radiology       120 192
421141  SIMICS installations + Radiology                  72 974
421222  Thyroid Imager                                   327 585
421170  "BESTTOP" tray                                    53 443

DELIVERY CONDITIONS

        Export:   Price at factory, packaging in addition
        France:   Price at delivery at destination

FORMULA FOR PRICE ADJUSTMENTS
P=PO(0.125+0.575 S/SO + 0.30 PsdC/PsdCO)

S:             Manpower cost index

S. PsdC:       Index of miscellaneous type C products and services

S. Psdc:       Indexes on the price adjustment date

So1 PsdCO:     Indexes in June 1998

Po:            Price on June 1st 1998

P:             Revised price

<PAGE>

                                     ANNEX 5
                                [NOT REFERENCED]

<PAGE>

                                     ANNEX 6

                          LIST OF TRANSFERRED PERSONNEL

-Madame Karine VERNEAU
4, rue des Ecoles
77360 VAIRES SUR MARNE

-Monsieur Cyrille DESWERT
78, Cours de Vincennes
75012 PARIS

-Monsieur Pierre-Xavier RIBOT
135, avenue de Versailles
75016 PARIS

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