EPL Announces Third Discovery This Year in Bay Marchand
Energy Partners, Ltd. (EPL or the Company) (NYSE:EPL) will present at the 36th Annual Howard Weil Energy Conference on Wednesday, April 9, 2008 at 10:45 a.m. central time in New Orleans. Richard A. Bachmann, EPL's Chairman and CEO, will provide a financial and operational overview on the Company during the presentation.
A copy of the presentation handout will be available at the Company's website, www.eplweb.com, under "Latest Presentation" in the Investor Relations section of the site on the day of the presentation.
The Company also today announced its third discovery in 2008 in the Bay Marchand field located in its Central core area on the Gulf of Mexico Shelf (Shelf). This field is located just north of the Company’s South Timbalier 26 field.
The South Timbalier 23 (ST 23) #CC-3st well was drilled through its objective interval and encountered two hydrocarbon bearing sands of apparent high quality oil pay. The rig will complete the #CC-3st in the bottommost sand, with plans to use this rig after this operation to complete the previously announced discovery, the #CC-15st. Both wells are expected to be on line in the second quarter. EPL holds a 27% working interest in all three discoveries made to date in Bay Marchand this year.
Richard A. Bachmann commented, “We are pleased with this third discovery in Bay Marchand this year, as this program is an integral part of executing our strategy of drilling lower risk prospects in our core area and focusing on oil opportunities. We continue to look for additional Bay Marchand opportunities for investment for the second half of this year and in the future.”
Founded in 1998, EPL is an independent oil and natural gas exploration and production company based in New Orleans, Louisiana. The Company’s operations are focused along the U. S. Gulf Coast, both onshore in south Louisiana and offshore in the Gulf of Mexico.
Forward-Looking Statements
This press release may contain forward-looking information and statements regarding EPL. Any statements included in this press release that address activities, events or developments that EPL expects, believes or anticipates will or may occur in the future are forward-looking statements. These include statements regarding:
- reserve and production estimates;
- oil and natural gas prices;
- the impact of derivative positions;
- production expense estimates;
- cash flow estimates;
- future financial performance;
- planned capital expenditures; and
- other matters that are discussed in EPL's filings with the Securities and Exchange Commission.
These statements are based on current expectations and projections about future events and involve known and unknown risks, uncertainties, and other factors that may cause actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Please refer to EPL's filings with the SEC, including its Form 10-K for the year ended December 31, 2007, for a discussion of these risks.
Additional Information and Where to Find It. Security holders may obtain information regarding the Company from EPL's website at www.eplweb.com, from the Securities and Exchange Commission's website at www.sec.gov, or by directing a request to: Energy Partners, Ltd. 201 St. Charles Avenue, Suite 3400, New Orleans, Louisiana 70170, Attn: Secretary, (504) 569-1875.
Energy Partners, Ltd.
T.J. Thom, 504-799-4830
or
Al Petrie, 504-799-1953
