EPL High Bidder on Four Blocks at Gulf of Mexico Lease Sale
18 Agosto 2005 - 4:53PM
Business Wire
Energy Partners, Ltd. ("EPL") (NYSE:EPL) has provided preliminary
results from the Western Gulf Lease Sale 196 held on August 17,
2005 in New Orleans, Louisiana. EPL participated in bids on four
blocks, and was the high bidder on all four blocks. The four
blocks, North Padre A-28, Galveston 189, High Island A-306, and
High Island A-315, are all on the Gulf of Mexico Shelf, in less
than 500 feet of water, and EPL expects to be the operator of all
the blocks. Together the blocks cover approximately 20,500 gross
acres, or approximately 16,000 acres net to EPL's interest. EPL's
share of the successful bids totals approximately $4.6 million. All
of the high bids are subject to review by the Minerals Management
Service before they are awarded. 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 shallow to moderate depth waters of the Gulf of
Mexico Shelf. Any statements made in this news release, other than
those of historical fact, about an action, event or development,
which the Company hopes, believes or anticipates may or will occur
in the future, are "forward-looking statements" under U. S.
securities laws. Such statements are subject to various
assumptions, risks and uncertainties, which are specifically
described in our Annual Report on Form 10-K for fiscal year ended
December 31, 2004 filed with the Securities and Exchange
Commission. Forward-looking statements are not guarantees of future
performance or an assurance that the Company's current assumptions
and projections are valid. Actual results may differ materially
from those projected.
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