SC 13D/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under Rule 13d-1 of the Securities Exchange Act of 1934

(Amendment No. 16)

Delta Petroleum Corporation

(Name of Issuer)

Common Stock, par value $.01 per share

(Title of Class of Securities)

247907207

(CUSIP Number)

Richard Sobelle, Esq.

Tracinda Corporation

150 South Rodeo Drive, Suite 250

Beverly Hills, CA 90212

(310) 271-0638

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 31, 2009

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 247907207

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Tracinda Corporation
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ¨ (b)  ¨
3.	SEC Use Only
4.	Source of Funds (See Instructions) N/A
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)	¨
6.	Citizenship or Place of Organization Nevada

Number of   Shares   Beneficially   Owned by   Each   Reporting   Person   With	7.    Sole Voting Power        93,797,701
	8.    Shared Voting Power
	9.    Sole Dispositive Power        93,797,701
	10.    Shared Dispositive Power

11.	Aggregate Amount Beneficially Owned by Each Reporting Person 93,797,701
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)	¨
13.	Percent of Class Represented by Amount in Row (11) 33.9% *
14.	Type of Reporting Person (See Instructions) CO

* Percentage calculated on the basis of 276,787,594 shares of common stock issued and outstanding as of July 20, 2009, based upon information set forth in the Issuer’s preliminary prospectus dated and filed on July 21, 2009.

CUSIP No. 247907207

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Kirk Kerkorian
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ¨ (b)  ¨
3.	SEC Use Only
4.	Source of Funds (See Instructions) N/A
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)	¨
6.	Citizenship or Place of Organization United States

Number of   Shares   Beneficially   Owned by   Each   Reporting   Person   With	7.    Sole Voting Power        93,797,701
	8.    Shared Voting Power
	9.    Sole Dispositive Power        93,797,701
	10.    Shared Dispositive Power

11.	Aggregate Amount Beneficially Owned by Each Reporting Person 93,797,701
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)	¨
13.	Percent of Class Represented by Amount in Row (11) 33.9% *
14.	Type of Reporting Person (See Instructions) IN

* Percentage calculated on the basis of 276,787,594 shares of common stock issued and outstanding as of July 20, 2009, based upon information set forth in the Issuer’s preliminary prospectus dated and filed on July 21, 2009.

This Amendment No.16 amends and supplements that certain Schedule 13D filed on February 26, 2008 and previously amended on June 11, 2008, June 19, 2008, July 9, 2008, September 3, 2008, November 7, 2008 , November 14, 2008, November 25, 2008, December 5, 2008, March 3, 2009, March 27, 2009, May 1, 2009, May 6, 2009 May 13, 2009, May 19, 2009 and May 28, 2009 and as amended by those certain Schedule TO-Cs filed on October 31, 2008 and November 7, 2008 with the Securities and Exchange Commission by Tracinda Corporation, a Nevada corporation (“Tracinda”), and Kirk Kerkorian, an individual and the sole shareholder of Tracinda (as so amended, the “Schedule 13D”). Capitalized terms used herein and not otherwise defined in this Amendment No. 16 shall have the meaning set forth in the Schedule 13D. Except as specifically set forth herein, the Schedule 13D remains unmodified.

Item 5. Interests in Securities of the Issuer.

Item 5 of the Schedule 13D is hereby amended to add the following information:

(a)-(b) The following table sets forth information with respect to Delta Petroleum’s securities beneficially owned by each person or entity named in Item 2 of the Schedule 13D. Mr. Kerkorian has sole voting and investment power with respect to the shares held by the Filing Persons, and Mr. Mandekic has sole voting and investment power with respect to the shares held by him.

Name	Number of Shares	Percent of Outstanding(1)
Tracinda Corporation	93,797,701	33.9	%
Kirk Kerkorian	93,797,701	33.9	%
Anthony L. Mandekic	17,727	(2	)

(1) Percentage calculated on the basis of 276,787,594 shares of common stock issued and outstanding as of July 20, 2009, based upon information set forth in the Company’s preliminary prospectus dated and filed on July 21, 2009.

(2) Less than 1%.

(c) On June 23, 2009 and July 13, 2009, Mr. Mandekic received from the Company common stock awards of 6,000 shares and 1,727 shares, respectively, in connection with his service on the Company’s Board of Directors.

(d) & (e) Not applicable.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

Item 6 of the Schedule 13D is hereby amended to add the following information:

On July 31, 2009, Tracinda executed, and deposited in the U.S. mail, that certain First Amendment to Promissory Note, dated as of June 26, 2009 (the “First Amendment”), by and between Tracinda and Roger A. Parker (the “Maker”), who served as Chairman of the Board and Chief Executive Officer of Delta Petroleum until May 26, 2009, pursuant to which that certain Promissory Note, dated November 10, 2008 (the “Original Note” and, together with the First Amendment, the “Note”), in the principal amount of Seven Million Five Hundred Thousand Dollars, was amended to extend its maturity date to May 11, 2011. In consideration for such extension and pursuant to that certain Pledge Agreement, dated as of June 26, 2009 (the “Pledge Agreement”), the Maker pledged all of his shares of Delta Petroleum’s common stock (1,339,303 shares) to secure his obligations under the Note. Copies of the Original Note, First Amendment and Pledge Agreement are attached hereto as exhibits and incorporated herein by this reference.

Item 7. Material to be Filed as Exhibits.

Exhibit No.	Description
16.	Promissory Note, dated November 10, 2008.
17.	First Amendment to Promissory Note, dated as of June 26, 2009.
18.	Pledge Agreement, dated as of June 26, 2009.

SIGNATURE

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

August 5, 2009

TRACINDA CORPORATION
By:	/S/ Anthony L. Mandekic
	Anthony L. Mandekic Secretary/Treasurer
KIRK KERKORIAN
By:	/S/ Anthony L. Mandekic
	Anthony L. Mandekic Attorney-in-Fact *

* Power of Attorney, dated February 13, 2008, previously filed as Exhibit 3 to the Schedule 13D.

EX-16

EXHIBIT 16

PROMISSORY NOTE

$7,500,000.00	November 10, 2008
	Beverly Hills, California

For value received, the undersigned Roger A. Parker, (the “Maker”), promises to pay to TRACINDA CORPORATION, a Nevada corporation, (the “Lender”) at 150 South Rodeo Drive, Suite 250, Beverly Hills, CA 90212, the principal sum of Seven Million Five Hundred Thousand Dollars ($7,500,000.00), together with interest thereon in like money from November 10, 2008 on the unpaid principal balance thereof, at the rate of Four and One Quarter Percent (4.25%) per annum, compounded annually.

A payment of principal in the amount of Seven Million Five Hundred Thousand Dollars ($7,500,000.00) along with accrued interest thereon shall be due and payable on May 11, 2009.

This note may be prepaid, in whole or in part, without premium or penalty.

Should an event of default occur in payment of principal when due or at loan maturity, whether by acceleration or otherwise, or in the performance or observance, when due, or any term, covenant or condition of this Note or condition of any Deed of Trust (including amendments or extensions thereof) securing or pertaining to this Note, at the option of Lender and without notice or demand, the entire balance of principal then remaining unpaid shall become immediately due and payable. If the principal hereof shall be paid after it shall become due, whether because such payment is due on a Saturday or a holiday or for any other reason, interest shall be paid thereon to the date of actual receipt of such payment by Lender. Any payment made by check shall be deemed paid only upon clearance. Maker agrees to pay all costs of collection when incurred, including reasonable attorneys’ fees, whether or not any suit be commenced, and to perform and to comply with each of the covenants, conditions, provisions and agreements contained in every instrument or document now or hereafter evidencing or securing the loan evidenced by this Note. If any suit or action be instituted to enforce this Note, Maker promises to pay, in addition to the costs and disbursements otherwise allowed by law, such sum as the court may adjudge reasonable attorneys’ fees in such suit or action.

Maker, jointly and severally waives diligence, presentment, protest and demand and also notice of protest, demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time by the Lender without notice to or consent of Maker, and hereby consents to the acceptance by the Lender of further security or the release by the Lender of any security for this Note without any need for any further consent by or notice to, and without in any way affecting the liability of Maker hereof . No extension of time for the payment of this Note, or any installment hereof made by agreement by the Lender with any person now or hereafter liable for the payment of this Note shall affect the original liability under this Note for Maker, even if Maker is not a party to such agreement. The pleading of any status of limitation as a defense to any demand against Maker, is expressly waived by each and all of said parties to the full extent permitted by law.

PROMISSORY NOTE

Roger A. Parker

Page: 2

Maker agrees any arrangements herein are not transferable by Maker.

This Note shall be governed by and construed in accordance with the laws of the State of California.

IN WITNESS WHEREOF, Maker has caused this Note to be executed.

“Maker”	“Lender”
/s/ Roger A. Parker	/s/ Anthony Mandekic
Roger A. Parker	Tracinda Corporation
	by Anthony Mandekic, Secretary/Treasurer

EX-17

EXHIBIT 17

FIRST AMENDMENT TO PROMISSORY NOTE

This First Amendment to Promissory Note (this “First Amendment”) is made this 26^th day of June, 2009, effective as of May 11, 2009, by and between Roger A. Parker (“Maker”) and TRACINDA CORPORATION, a Nevada corporation (“Lender”).

WHEREAS, Maker executed and delivered to Lender that certain Promissory Note dated November 10, 2008, in the original principal amount of Seven Million Five Hundred Thousand Dollars ($7,500,000.00) (the “Original Note”); and

WHEREAS, Maker and Lender desire to amend the terms of the Original Note as set forth below (and as so amended, the “Note”).

NOW, THEREFORE, in consideration of the mutual covenants herein, and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, Maker and Lender agree as follows:

1. Extension of Maturity Date. The date, “May 11, 2009” set forth in the second paragraph of the Original Note setting forth when the payment of principal and interest shall be due and payable is hereby deleted and replaced by the date, “May 11, 2011”.

2. Pledge of Collateral. Pursuant to that certain Pledge Agreement of even date herewith (the “Pledge Agreement”), Maker has pledged and delivered to Lender to secure Maker’s payment and performance under the Note a total of One Million Three Hundred Thirty-Nine Thousand Three Hundred Three (1,339,303) shares of common stock of Delta Petroleum Corporation (“Collateral”) representing all such shares owned by Maker. Lender agrees that, at any time the price per share of Delta Petroleum Corporation common stock equals or exceeds $4.50 per share as reported on the NASDAQ Global Select Market or the principal securities exchange or securities market on which the Delta Petroleum Corporation common stock is then listed or quoted, at Maker’s option Maker shall be free from time to time to sell any or all of the Collateral, and Lender shall promptly release such shares from the pledge in order to facilitate such sale(s); provided that all proceeds of such sale(s) shall be applied first towards payment of interest and then towards payment of principal under the Note until the Note has been paid in full.

3. No other modifications. Except as expressly set forth in this First Amendment, all of the terms and conditions of the Note shall remain in full force and effect without modification or amendment.

IN WITNESS WHEREOF, Maker and Lender have executed this First Amendment as of the date first set forth above.

MAKER:	LENDER:
/s/ Roger A. Parker	/s/ Anthony Mandekic
Roger A. Parker	Tracinda Corporation
	By:	Secretary/Treasurer

First Amendment to Promissory Note 1

EX-18

EXHIBIT 18

PLEDGE AGREEMENT

THIS PLEDGE AGREEMENT (“Agreement”), dated as of June 26, 2009 and effective as of May 11, 2009 (“Effective Date”), is made and given by Roger A. Parker, an individual (the “Pledgor”), to Tracinda Corporation, a Nevada corporation (the “Secured Party”).

WHEREAS, the Pledgor has executed and delivered to the Secured Party a promissory note, dated November 10, 2008, in the original principal amount of $7.5 million, as amended by that certain First Amendment to Promissory Note of even date herewith (as amended, the “Note”); and

WHEREAS, the Pledgor is the holder of the certificates of common stock representing an aggregate of 1,339,303 shares of common stock of Delta Petroleum Corporation (“Delta Petroleum”) set forth on Schedule A hereto (the “Pledged Shares”) and desires to pledge the Pledged Shares to the Secured Party to secure the Pledgor’s obligations under the Note.

NOW, THEREFORE, in consideration of the mutual covenants herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Pledgor hereby agrees with the Secured Party for the Secured Party’s benefit as follows:

1. Defined Terms and Interpretation.

(a) Terms Defined in this Agreement. As used in this Agreement, the following terms shall have the meanings indicated:

“Lien” shall mean any security interest, mortgage, pledge, lien, charge, encumbrance, title retention agreement or analogous instrument or device (including the interest of the lessors under capitalized leases), in, of or on any assets or properties of the Person referred to.

“Obligations” shall mean (a) all indebtedness, liabilities and obligations of the Pledgor to the Secured Party of every kind, nature or description under the Note, and (b) all liabilities of the Pledgor under this Agreement.

“Person” shall mean any individual, corporation, partnership, joint venture, limited liability company, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

(b) Terms Defined in Uniform Commercial Code. All other terms used in this Agreement that are not specifically defined herein or the definitions of which are not incorporated herein by reference shall have the meaning assigned to such terms in Revised Article 9 of the Uniform Commercial Code as adopted in the State of Colorado (the “Code”).

(c) Singular/Plural, Etc. Unless the context of this Agreement otherwise clearly requires, references to the plural include the singular, the singular, the plural and “or” has the inclusive meaning represented by the phrase “and/or.” The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The words “hereof,” “herein,” “hereunder,” and similar terms in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement. References to Sections are references to Sections in this Agreement unless otherwise provided.

Pledge Agreement 1

2. Pledge. As security for the payment and performance of all of the Obligations, the Pledgor hereby pledges to the Secured Party and grants to the Secured Party a security interest (the “Security Interest”) in the following, including any securities account containing a securities entitlement with respect to the following (the “Collateral”):

(a) The Pledged Shares and the certificates representing the Pledged Shares, and all options and other rights, contractual or otherwise, in respect thereof, and all dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing.

(b) All present and future increases, profits, combinations, reclassifications, stock dividends, stock splits or similar recapitalizations, and substitutes and replacements for all or part of the foregoing Collateral.

(c) All proceeds of any and all of the foregoing (including proceeds that constitute property of types described above).

3. Delivery of Collateral. The Pledgor shall in good faith deliver all certificates and instruments representing or evidencing the Pledged Shares as soon as reasonably possible to the Secured Party. All certificates and instruments representing or evidencing Collateral received by the Pledgor after the execution of this Agreement shall be delivered to the Secured Party promptly upon the Pledgor’s receipt thereof. All such certificates and instruments shall be held by or on behalf of the Secured Party pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to the Secured Party. With respect to all Pledged Shares consisting of uncertificated securities, book-entry securities or securities entitlements, the Pledgor shall either (a) execute and deliver, and cause any necessary issuers or securities intermediaries to execute and deliver, control agreements in form and substance satisfactory to the Secured Party covering such Pledged Shares, or (b) cause such Pledged Shares to be transferred into the name of the Secured Party. If the Collateral is in the possession of a bailee, the Pledgor will join with the Secured Party in notifying the bailee of the interest of the Secured Party and in obtaining from the bailee an acknowledgment that it hold the Collateral for the benefit of the Secured Party.

4. Certain Representations and Warranties. The Pledgor hereby represents and warrants to the Secured Party as follows:

(a) The Pledgor has title to the Pledged Shares and will have title to each other item of Collateral hereafter acquired, free of all Liens except the Security Interest; the Pledged Shares represent all shares of the common stock of Delta Petroleum owned by Pledgor.

(b) No financing statement covering all or any part of the Collateral is on file in any public office (except for any financing statements filed by the Secured Party).

(c) The Pledged Shares have been duly authorized and validly issued by the issuer thereof and are fully paid and non-assessable. The certificates representing the Pledged Shares are genuine. The Pledged Shares are not subject to any offset or similar right or claim of the issuer thereof.

Pledge Agreement 2

5. Further Assurances. The Pledgor agrees that at any time and from time to time, at the expense of the Pledgor, the Pledgor will promptly execute and deliver all further instruments and documents, and take all further action that may be necessary or that the Secured Party may reasonably request, in order to perfect and protect the Security Interest or to enable the Secured Party to exercise and enforce its rights and remedies hereunder with respect to any Collateral (but any failure to request or assure that the Pledgor execute and deliver such instruments or documents or to take such action shall not affect or impair the validity, sufficiency or enforceability of this Agreement and the Security Interest, regardless of whether any such item was or was not executed and delivered or action taken in a similar context or on a prior occasion).

6. Voting Rights; Dividends; Etc.

(a) Subject to Section 6(d), the Pledgor shall be entitled to exercise or refrain from exercising any and all voting and other consensual rights pertaining to the Pledged Shares or any other stock that becomes part of the Collateral or any part thereof for any purpose not inconsistent with the terms of this Agreement; provided, however, that the Pledgor shall not exercise or refrain from exercising any such right if such action could reasonably be expected to have a material adverse effect on the value of the Collateral or any material part thereof.

(b) Subject to Section 6(e), the Pledgor shall be entitled to receive, retain, and use in any manner any and all interest and dividends paid in respect of the Collateral; provided, however, that any and all

(i) dividends paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for, any Collateral,

(ii) dividends and other distributions paid or payable in cash in respect of any Collateral in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and

(iii) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Collateral,

shall be, and shall be forthwith delivered to the Secured Party to hold as, Collateral and shall, if received by the Pledgor, be received in trust for the benefit of the Secured Party, be segregated from the other property or funds of the Pledgor, and be forthwith delivered to the Secured Party as Collateral in the same form as so received (with any necessary indorsement or assignment). The Pledgor shall, upon request by the Secured Party, promptly execute all such documents and do all such acts as may be necessary or desirable to give effect to the provisions of this Section 6(b).

(c) The Secured Party shall execute and deliver (or cause to be executed and delivered) to the Pledgor all such proxies and other instruments as the Pledgor may reasonably request for the purpose of enabling the Pledgor to exercise the voting and other rights that it is entitled to exercise pursuant to Section 6(a) and to receive the dividends and interest that it is authorized to receive and retain pursuant to Section 6(b).

Pledge Agreement 3

(d) Upon the occurrence and during the continuance of any Event of Default, the Secured Party shall have the right in its sole discretion, and the Pledgor shall execute and deliver all such proxies and other instruments as may be necessary or appropriate to give effect to such right, to terminate all rights of the Pledgor to exercise or refrain from exercising the voting and other consensual rights that it would otherwise be entitled to exercise pursuant to Section 6(a), and all such rights shall thereupon become vested in the Secured Party who shall thereupon have the sole right to exercise or refrain from exercising such voting and other consensual rights; provided, however, that the Secured Party shall not be deemed to possess or have control over any voting rights with respect to any Collateral unless and until the Secured Party has given written notice to the Pledgor that any further exercise of such voting rights by the Pledgor is prohibited and that the Secured Party and/or its assigns will henceforth exercise such voting rights; and provided, further, that neither the registration of any item of Collateral in the Secured Party’s name nor the exercise of any voting rights with respect thereto shall be deemed to constitute a retention by the Secured Party of any such Collateral in satisfaction of the Obligations or any part thereof.

(e) Upon the occurrence and during the continuance of any Event of Default:

(i) all rights of the Pledgor to receive the dividends and interest that it would otherwise be authorized to receive and retain pursuant to Section 6(b) shall cease, and all such rights shall thereupon become vested in the Secured Party who shall thereupon have the sole right to receive and hold such dividends as Collateral, and

(ii) all payments of interest and dividends that are received by the Pledgor contrary to the provisions of Section 6(b)(i) shall be received in trust for the benefit of the Secured Party, shall be segregated from other funds of the Pledgor and shall be forthwith paid over to the Secured Party as Collateral in the same form as so received (with any necessary indorsement).

7. Transfers and Other Liens.

(a) Subject to Section 7(b), the Pledgor agrees that it will not (i) sell, assign (by operation of law or otherwise) or otherwise dispose of, or grant any option with respect to, any of the Collateral, or (ii) create or permit to exist any Lien, upon or with respect to any of the Collateral.

(b) If at any time the per share price of the Delta Petroleum common stock equals or exceeds $4.50 as reported on the NASDAQ Global Select Market or the principal securities exchange or securities market on which the Delta Petroleum common stock is then listed or quoted, the Pledgor may from time to time sell any or all of the Pledged Shares and the Secured Party agrees to release such Pledged Shares as security for the Obligations; provided, however, that all proceeds from a sale of Pledged Shares pursuant to this Section 7(b) shall be applied (i) first to pay any accrued but unpaid interest owing under the Note, and (ii) then to reduce the principal amount outstanding under the Note.

8. Secured Party Appointed Attorney-in-Fact. As additional security for the Obligations, the Pledgor hereby irrevocably appoints the Secured Party the Pledgor’s attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor or otherwise, from time to time in the Secured Party’s good-faith discretion, to take any action and to execute any instrument that the Secured Party may reasonably believe necessary or advisable to

Pledge Agreement 4

accomplish the purposes of this Agreement (subject to the rights of the Pledgor under Section 6), in a manner consistent with the terms hereof, including, without limitation, to receive, indorse and collect all instruments made payable to the Pledgor representing any dividend or other distribution in respect of the Collateral or any part thereof and to give full discharge for the same.

9. The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. The Secured Party shall be deemed to have exercised reasonable care in the safekeeping of any Collateral in its possession if such Collateral is accorded treatment substantially equal to the safekeeping which the Secured Party accords its own property of like kind. Except for the safekeeping of any Collateral in its possession and the accounting for monies and for other properties actually received by it hereunder, the Secured Party shall have no duty, as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any Persons or any other rights pertaining to any Collateral. The Secured Party will take action in the nature of exchanges, conversions, redemption, tenders and the like requested in writing by the Pledgor with respect to any of the Collateral in the Secured Party’s possession if the Secured Party in its reasonable judgment determines that such action will not impair the Security Interest or the value of the Collateral, but a failure of the Secured Party to comply with any such request shall not of itself be deemed a failure to exercise reasonable care.

10. Default. Each of the following occurrences, which continues for more than 10 days after the Secured Party has provided written notice of such occurrence to the Pledgor, shall constitute an Event of Default under this Agreement: (a) the Pledgor shall fail to observe or perform any covenant or agreement applicable to the Pledgor under this Agreement, (b) any representation or warranty made by the Pledgor in this Agreement or in any financial statements, reports or certificates heretofore or at any time hereafter submitted by or on behalf of the Pledgor to the Secured Party shall prove to have been false or materially misleading when made, (c) any Event of Default shall occur under the Note, or (d) the Secured Party receives at any time any information indicating that the Secured Party’s Security Interest is not enforceable, is not perfected or in not prior to all other security interests or other interests in the Collateral, except as otherwise agreed by the Secured Party.

11. Remedies upon Default. If any Event of Default shall have occurred and be continuing:

(a) The Secured Party may exercise in respect of the Collateral, in addition to other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party on default under Revised Article 9 of the Code in effect at that time, and may, without notice except as specified below, sell the 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 the Secured Party’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Secured Party may reasonably believe are commercially reasonable. The Pledgor agrees that, to the extent notice of sale shall be required by law, at least ten days’ prior notice to the 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. The Secured Party shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Secured Party may adjourn any public or private

Pledge Agreement 5

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. The Pledgor hereby waives all requirements of law, if any, relating to the marshalling of assets which would be applicable in connection with the enforcement by the Secured Party of its remedies hereunder, absent this waiver. The Secured Party may disclaim warranties of title and possession and the like.

(b) The Secured Party may notify any Person obligated on any of the Collateral that the same has been assigned or transferred to the Secured Party and that the same should be performed as requested by, or paid directly to, the Secured Party, as the case may be. The Pledgor shall join in giving such notice, if the Secured Party so requests. The Secured Party may, in the Secured Party’s name or in the Pledgor’s name, demand, sue for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such Collateral or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligation of any such Person.

(c) Any cash held by the Secured Party as Collateral and all cash proceeds received by the Secured Party in respect of any sale of, collection from, or other realization upon all or any part of the Collateral may, in the discretion of the Secured Party, be held by the Secured Party as collateral for, or then or at any time thereafter be applied in whole or in part by the Secured Party against, all or any part of the Obligations.

12. Waiver of Certain Claims. The Pledgor acknowledges that because of present or future circumstances, a question may arise under the Securities Act of 1933, as from time to time amended (the “Securities Act”), with respect to any disposition of the Collateral permitted hereunder. The Pledgor understands that compliance with the Securities Act may very strictly limit the course of conduct of the Secured Party if the Secured Party were to attempt to dispose of all or any portion of the Collateral and may also limit the extent to which or the manner in which any subsequent transferee of the Collateral or any portion thereof may dispose of the same. There may be other legal restrictions or limitations affecting the Secured Party in any attempt to dispose of all or any portion of the Collateral under the applicable Blue Sky or other securities laws or similar laws analogous in purpose or effect. The Secured Party may be compelled to resort to one or more private sales to a restricted group of purchasers who will be obliged to agree, among other things, to acquire such Collateral for their own account for investment only and not to engage in a distribution or resale thereof. The Pledgor agrees that the Secured Party shall not incur any liability, and any liability of the Pledgor for any deficiency shall not be impaired, as a result of the sale of the Collateral or any portion thereof at any such private sale in a manner that the Secured Party reasonably believes is commercially reasonable (within the meaning of Section 9-627 of the Code). The Pledgor hereby waives any claims against the Secured Party arising by reason of the fact that the price at which the Collateral may have been sold at such sale was less than the price that might have been obtained at a public sale or was less than the aggregate amount of the Obligations, even if the Secured Party shall accept the first offer received and does not offer any portion of the Collateral to more than one possible purchaser. The Pledgor further agrees that the Secured Party has no obligation to delay sale of any Collateral for the period of time necessary to permit the issuer of such Collateral to qualify or register such Collateral for public sale under the Securities Act, applicable Blue Sky laws and other applicable state and federal securities laws, even if said issuer would agree to do so. Without limiting the generality of the foregoing, the provisions of this Section 12 would apply if, for example, the Secured Party were to place all or any portion of the Collateral for private placement by

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an investment banking firm, or if such investment banking firm purchased all or any portion of the Collateral for its own account, or if the Secured Party placed all or any portion of the Collateral privately with a purchaser or purchasers.

13. Waivers and Amendments; Remedies. This Agreement can be waived, modified, amended, terminated or discharged, and the Security Interest can be released, only explicitly in a writing signed by the Secured Party. A waiver so signed shall be effective only in the specific instance and for the specific purpose given. Mere delay or failure to act shall not preclude the exercise or enforcement of any rights and remedies available to the Secured Party. All rights and remedies of the Secured Party shall be cumulative and may be exercised singly in any order or sequence, or concurrently, at the Secured Party’s option, and the exercise or enforcement of any such right or remedy shall neither be a condition to nor bar the exercise or enforcement of any other.

14. Notices. Any notice, request or other communication required or permitted hereunder shall be in writing and shall be delivered personally or by facsimile (receipt confirmed electronically) or shall be sent by a reputable express delivery service or by certified mail, postage prepaid with return receipt requested, addressed as follows:

if to Pledgor, to:

Roger A. Parker

9 Cherry Hills Park Drive

Cherry Hills Village, CO 80113

with a copy to:

Brownstein Hyatt Farber Schreck, LLP

410 17^th Street, Suite 2200

Denver, CO 80202

Attention: Steven C. Demby

Facsimile: (303) 223-0919

if to Secured Party, to:

Tracinda Corporation

150 South Rodeo Drive, Suite 250

Beverly Hills, CA 90212

Attention: Richard Sobelle

Facsimile: (310) 271-3416

Either party hereto may change the above specified recipient or mailing address by notice to the other party given in the manner herein prescribed. All notices shall be deemed given on the day when actually delivered as provided above (if delivered personally or by facsimile, provided that any such facsimile is received during regular business hours at the recipient’s location) or on the day shown on the return receipt (if delivered by mail or delivery service).

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15. Pledgor Acknowledgments. The Pledgor hereby acknowledges that (a) the Pledgor has been advised by counsel in the negotiation, execution and delivery of this Agreement, (b) the Secured Party has no fiduciary relationship to the Pledgor, the relationship being solely that of debtor and creditor, and (c) no joint venture exists between the Pledgor and the Secured Party.

16. Continuing Security Interest; Assignments under the Note. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the Obligations and the expiration of the obligation, if any, of the Secured Party to extend credit accommodations to the Pledgor, (b) be binding upon the Pledgor, its successors and assigns, and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of, and be enforceable by, the Secured Party and its successors, transferees and assigns.

17. Termination of Security Interest. Upon payment in full of the Obligations, the Security Interest shall terminate and all rights to the Collateral shall revert to the Pledgor. Upon any such termination, the Secured Party will return to the Pledgor such of the Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Pledgor such documents as the Pledgor shall reasonably request to evidence such termination. Any reversion or return of the Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Pledgor and shall be without warranty by, or recourse on, the Secured Party. As used in this Section 17, “Pledgor” includes any assigns of Pledgor or whoever else may be lawfully entitled to any part of the Collateral.

18. Governing Law; Venue; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance with the laws of the State of California without giving effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the State of California. The Pledgor hereby (a) consents to the personal jurisdiction of the state and federal courts located in the State of California in connection with any controversy related to this Agreement, (b) waives any argument that venue in any such forum is not convenient, (c) agrees that any litigation initiated by the Secured Party or the Pledgor in connection with this Agreement may be venued in the state or federal courts located in Los Angeles, California, and (d) agrees that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. THE PLEDGOR HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, BASED ON OR PERTAINING TO THIS AGREEMENT.

19. Counterparts; Facsimile Signatures. This Agreement may be executed in separate counterparts each of which will be an original and all of which taken together will constitute one and the same agreement. This Agreement may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the same, and equally enforceable, as an original of such signature.

20. General. All representations and warranties contained in this Agreement or in any other agreement between the Pledgor and the Secured Party shall survive the execution, delivery and performance of this Agreement and the creation and payment of the Obligations. The Pledgor waives notice of the acceptance of this Agreement by the Secured Party. Captions in this Agreement are for reference and convenience only and shall not affect the interpretation or meaning of any provision of this Agreement.

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IN WITNESS WHEREOF, the Pledgor has caused this Agreement to be duly executed and delivered as of the date first above written.

/s/ Roger A. Parker

Roger A. Parker

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SCHEDULE A

Stock Certificate No.	No. of Shares of Delta Petroleum Corporation Common Stock
	2,335
	25,000
	25,000
	100,000
	1,186,968
Total	1,339,303

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