EPL Epl Oil & Gas

Energy Partners, Ltd. ("EPL") (NYSE:EPL) today announced preliminary results on the Raton South prospect, its third deepwater well in the Gulf of Mexico. The well, located in Mississippi Canyon Block 292, was drilled to appraise the deep section encountered in the Mississippi Canyon 248 #1 Raton well. The Raton South well, located in 3,400 feet of water, was drilled to a total measured depth of 20,913 feet. While it is premature to estimate resources, the well encountered hydrocarbons in two sand intervals. Raton South has been temporarily abandoned pending further technical evaluation. The first production planned in this development area will be from a natural gas interval discovered in the Raton well last year, with production commencing in late 2007 or early 2008. Noble Energy, Inc. (�Noble Energy�) (NYSE: NBL) is the operator of Raton and Raton South with a 50 percent working interest. EPL and Samson Offshore Company (�Samson�) each have a 25 percent working interest. 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 contains forward-looking information regarding EPL that is intended to be covered by the safe harbor "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. All 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 gas prices, the impact of derivative positions, production expense estimates, cash flow estimates, future financial performance, planned capital expenditures, the completion of any transaction; and other matters that are discussed in EPL's filings with the Securities and Exchange Commission (SEC). 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. There is no assurance that the exploration of strategic alternatives will result in any agreements or transactions. Please refer to EPL's filings with the SEC, including Form 10-K for the year ended December 31, 2005, and Form 10-Q for the quarter ended September 30, 2006 for a discussion of these risks. The documents filed with the SEC by EPL may be obtained free of charge from EPL's website at www.eplweb.com or by directing a request to: Energy Partners, Ltd. 201 St. Charles Avenue, Suite 3400, New Orleans, Louisiana 70170, Attn: Secretary, (504) 569-1875.