Denbury Resources Inc. Announces Offering of $350 Million of Senior Subordinated Notes

Denbury Resources Inc. (NYSE:DNR) announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the public offering of $350 million of Senior Subordinated Notes Due 2016. Denbury expects to complete the offering by the end of the week.

Denbury plans to use the net proceeds from the offering to repay a portion of the $390.0 million outstanding under its bank credit facility at February 2, 2009.

J.P. Morgan Securities Inc. and Banc of America Securities LLC are acting as joint book-running managers, with Fortis Securities LLC, Wachovia Capital Markets, LLC, Wedbush Morgan Securities Inc., Comerica Securities, Inc., KeyBanc Capital Markets Inc., U.S. Bancorp Investments, Inc., Scotia Capital (USA) Inc., BBVA Securities, Inc. and Calyon Securities (USA) Inc. acting as co-managers. A copy of the prospectus for the offering may be obtained on the SEC website at www.sec.gov. Alternatively, the underwriters 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, or Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001.

This press release does not constitute an offer to sell or a solicitation of an offer to buy Denbury Senior Subordinated Notes. Such an offer can only be made by delivery of a prospectus that has been filed with the Securities and Exchange Commission.

Denbury Resources Inc. (www.denbury.com) 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, along with significant operating acreage in the Barnett Shale play near Fort Worth, Texas, and also holds properties in Southeast Texas. The Company’s goal is to increase the value of acquired properties through a combination of exploitation, drilling and proven engineering extraction practices, with its most significant emphasis relating to tertiary recovery operations.