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EPL High Bidder on Eight Leases at Central Gulf of Mexico Lease Sale

Posted on: Thursday, 4 October 2007, 12:00 CDT

Energy Partners, Ltd. ("EPL") (NYSE:EPL) today announced that it was the high bidder on eight leases at the Central Gulf of Mexico Lease Sale 205 held yesterday in New Orleans, LA.

The eight high bid lease blocks cover a total of 40,760 acres on a gross basis, and include seven blocks on the Gulf of Mexico Shelf and one in deepwater. EPL's share of the high bids totals $19.2 million.

Richard A. Bachmann, EPL's Chairman and CEO commented, "This lease sale was a long awaited one, and we are pleased that we were successful with high bids within our core areas, including two leases in our highly successful South Timbalier area and a deepwater lease that enhances our existing portfolio."

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 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 June 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.

Source: Business Wire

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