EPL Announces Results of Denali Well

Energy Partners (EPL) reports that the Louisiana State Lease 15016 #1 well testing the Denali prospect in East Bay has been plugged and abandoned as a dry hole. EPL expects to recognize approximately $8 million in exploration expense in the first quarter of 2006 in connection with the well.

Richard A. Bachmann, EPL's Chairman and CEO, remarked, "We are obviously disappointed by the results of this well, which did intersect the targeted sands and found limited hydrocarbons, but not of a sufficient quantity to complete the well," remarked Richard A. Bachmann, EPL's chairman and CEO. "While there is a possibility for future tests of deeper horizons in the area, none are planned for 2006, and our immediate focus is on incorporating the knowledge gained from this wellbore into our geologic model of the area."