EPL Epl Oil & Gas

Energy Partners, Ltd. ("EPL" or the "Company") (NYSE:EPL) today announced the extension to 5:00 p.m. New York City time, on April 23, 2007 of its cash tender offer (the "Offer") to purchase up to 8,700,000 issued and outstanding common shares, or approximately 22% of the Company�s shares, at $23 per share. The Company expects to purchase the shares tendered on a pro rata basis pursuant to the procedures specified in the Offer to Purchase upon the closing of its previously announced sale of $450 million of senior notes, the refinancing of the Company's revolving credit facility and the repurchase of its 8 3/4% senior notes. As of midnight, New York City time, on April 20, 2007, the initial expiration date for the Offer, 39,679,160 shares had been tendered, including 7,838,612 shares tendered through notice of guaranteed delivery. Banc of America Securities LLC (1-888-583-8900, ext. 8426) is the dealer manager for the Offer. MacKenzie Partners (1-800-322-2885) is the information agent for the Offer. 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 and statements regarding EPL. 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 natural gas prices, the impact of derivative positions, production expense estimates, cash flow estimates, future financial performance, planned capital expenditures, EPL's ability to secure funds necessary to finance the Offer and the refinancing of its revolving credit facility and senior notes, 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. Please refer to EPL's filings with the SEC, including Form 10-K for the year ended December 31, 2006, for a discussion of these risks. Please also refer to the Offer to Purchase filed by EPL in connection with the Offer for additional information regarding such risks, uncertainties and contingencies. No Offer or Solicitation. This announcement does not constitute an offer or invitation to purchase nor a solicitation of an offer to sell any securities of EPL. Any offers to purchase or solicitation of offers to sell will be made only pursuant to a tender offer statement (including an offer to purchase, a letter of transmittal and other offer documents) filed by EPL ("EPL's Tender Offer Statement") with the SEC. EPL'S SHAREHOLDERS ARE ADVISED TO READ EPL'S TENDER OFFER STATEMENT AND ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER THAT ARE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Additional Information and Where to Find It. Investors and security holders may obtain a free copy of EPL's Tender Offer Statement and other documents filed by EPL with the SEC at the SEC's website at http://www.sec.gov. In addition, investors and security holders may obtain a free copy of EPL's Tender Offer Statement, as well as EPL's related filings with the SEC, 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 or from MacKenzie Partners, Inc. by calling 1-800-322-2885 toll free or at 1-212-929-5500 collect or by e-mail at EPL@mackenziepartners.com.