Stone Energy Files 2005 Form 10-K

Stone Energy Corporation (NYSE: SGY) has filed its 2005 Form 10-K and third quarter Form 10-Q with the Securities and Exchange Commission. Coincident with these filings, Stone has cured the deficiency referenced in the Notice of non-compliance from the holders of its 6.75% Senior Subordinated Notes Due 2014 received on February 15, 2006. Additionally, these filings allow Stone access to the borrowing base under its Credit Agreement previously suspended because of the Notice of non-compliance from the Note holders.

Stone Energy is an independent oil and gas company headquartered in Lafayette, Louisiana, and is engaged in the acquisition and subsequent exploitation, development, operation and production of oil and gas properties located in the conventional shelf of the Gulf of Mexico (GOM), the deep shelf of the GOM, the deep water of the GOM, several basins of the Rocky Mountains, and the Williston Basin.
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