EPL Logs Pay at South Marsh Island 109

Energy Partners has made a discovery in the shallow waters of the Gulf of Mexico at South Marsh Island 109.

The South Marsh Island 109 No. 1 well is located approximately 230 miles southwest of New Orleans in 189 feet of water, and was drilled as a straight hole to a total depth of 10,400 feet. The well encountered natural gas pay in the objective sand interval. EPL owns a 25% working interest in the well. Hunt Petroleum, a privately held exploration and production company, is the operator and has a 50% working interest. The remaining interests are held by Cheyenne International Corporation (18.75%) and CL & F Resources LP (6.25%).

The well has been cased and suspended, and the operator is setting a template to facilitate the drilling of as many as three delineation wells. Drilling of the second well is expected to begin within the next week. Based upon current projected timing of drilling and facility construction, initial production is expected in the second half of 2004.

Richard A. Bachmann, Chairman, President and CEO commented, "South Marsh Island 109 is an excellent example of how quickly exciting new prospects can be advanced through our exploratory program. The lease was acquired in the March 2003 lease sale and the first well was drilled within five months of the date the lease was awarded." Bachmann continued, "South Marsh Island 109 represents the first of what we hope will be many more drilling successes in the fourth quarter. We have a very busy and exciting schedule ahead of us, with as many as 16 additional exploratory prospects scheduled for drilling between now and year-end. We are pleased that our strong exploratory track record is continuing, with eight successes out of ten wells drilled so far in 2003."

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