EPL Epl Oil & Gas

Energy Partners, Ltd. ("EPL" or the "Company") (NYSE:EPL) said today it has reached a resolution of the previously announced federal investigation into possible environmental violations relating to a February, 2006 inspection of the Company�s East Bay field. The Company, pursuant to a plea agreement with the United States Department of Justice (DOJ), entered a plea to one strict liability, misdemeanor violation of the River and Harbors Act, 33 United States Code 407, in the United States District Court for the Eastern Division of Louisiana. The plea concludes the investigation into possible environmental violations at the Company's East Bay field arising out of on-site governmental agency inspections conducted in the field in late 2005 and early 2006 when the Company was in the process of restoring field operations following extensive damage caused by the hurricanes of 2005. EPL stated that the ongoing field operations have remained unaffected by these proceedings. Under the agreement, the Company has paid a fine of $75,000 and has made a community service payment of $25,000 to the Louisiana State Police Right to Know Fund. As a part of the plea agreement, the Company is subject to inactive probation for one year. The above mentioned actions represent the final resolution of this matter with all federal agencies involved with the investigation. Richard A. Bachmann commented, �We are pleased to have this matter resolved, and EPL and its employees fully cooperated throughout this investigation. We have taken further steps to strengthen our environmental policies and procedures and we remain committed to the protection of the environment within all of our operations.� Forward-Looking Statements This press release may contain forward-looking information and statements regarding EPL. Any 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; and other matters that are discussed in EPL's filings with the Securities and Exchange Commission. 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 and Form 10-Q for the quarter ended September 30, 2007, for a discussion of these risks. Additional Information and Where to Find It. Security holders may obtain information regarding the Company from EPL's website at www.eplweb.com, from the Securities and Exchange Commission's website at www.sec.gov, or by directing a request to: Energy Partners, Ltd. 201 St. Charles Avenue, Suite 3400, New Orleans, Louisiana 70170, Attn: Secretary, (504) 569-1875.