Denbury Resources Inc. Announces Pricing of $150 Million Senior Subordinated Notes Offering

    DALLAS, March 29 /CNW/ - Denbury Resources Inc. (NYSE:  DNR) announced
today that it has increased the size of its offering of Senior Subordinated
Notes due 2015 from $125 million to $150 million. The notes, which carry a
coupon rate of 7.5%, are being sold at 100.5% of par, which equates to an
effective yield to maturity of approximately 7.4%. This offering of notes is
an additional issuance under the instrument governing Denbury's December 2005
sale of $150 million of Senior Subordinated Notes due 2015, with the aggregate
$300 million of 7.5% Senior Subordinated Notes due 2015 already issued and to
be issued to trade as a single class. The Company expects to close the sale of
the notes on April 3, 2007, subject to the satisfaction of customary closing

    Denbury plans to use the estimated net proceeds from the offering to
repay a portion of its current borrowings under the Company's bank credit
facility, under which approximately $180 million was outstanding as of March
25, 2007.

    This press release does not constitute an offer to sell or a solicitation
of an offer to buy the notes. J.P. Morgan Securities Inc. and Johnson Rice &
Company LLC are acting as underwriters for the notes offering with J.P. Morgan
Securities Inc. acting as sole book-running manager. A copy of the prospectus
for the offering may be obtained on the SEC website at
Alternatively, the underwriter will arrange to send you the prospectus if you
request it by contacting J.P. Morgan Securities Inc. at 270 Park Avenue, 8th
Floor, New York, New York 10017, attention Syndicate Desk.

    Denbury Resources Inc. ( is a growing independent oil and
gas company. The Company is the largest oil and natural gas operator in
Mississippi, owns the largest reserves of CO2 used for tertiary oil recovery
east of the Mississippi River, and holds key operating acreage in the onshore
Louisiana and Texas Barnett Shale areas. The Company increases the value of
acquired properties in its core areas through a combination of exploitation
drilling and proven engineering extraction practices.

For further information:

For further information: DENBURY RESOURCES INC. Gareth Roberts,
President and CEO, 972-673-2000 Phil Rykhoek, Chief Financial Officer,

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