By Denver Business Journal

Delta Petroleum Corp. said Monday that it will transfer from the Nasdaq Global Market to the Nasdaq Capital Market, effective Feb. 1, at its request.

The transfer "should not have any effect on a shareholder's ability to buy or sell its shares of Delta," the Denver energy company (Nasdaq: DPTR) said.

Delta said that with the move, "it is expected that Delta will have an additional 180 days to regain compliance with Nasdaq's requirement that its minimum bid price be at least $1.00."

Delta has been trading at under $1 a share since last June and opened at 73 cents a share Monday.

Delta said Dec. 30 that it had closed on a $100 million new senior secured credit facility with Macquarie Bank Ltd.

Copyright 2011 American City Business Journals

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