EPL Oil & Gas, Inc. Extends Expiration Date for Exchange Offer of 8.25% Senior Notes

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NEW ORLEANS, June 4, 2013 (GLOBE NEWSWIRE) -- EPL Oil & Gas, Inc. (EPL or the Company) (NYSE:EPL) announced today that it has extended the expiration date of its registered exchange offer to 5:00 p.m., New York City time, on Tuesday, June 4, 2013. The exchange offer is an offer to exchange up to $300,000,000 of registered 8.25% Senior Notes due 2018 that will be issued under an indenture dated February 14, 2011 for an equal principal amount of outstanding 8.25% Senior Notes due 2018 that were issued under an indenture dated October 25, 2012. The exchange offer was previously scheduled to expire at 5:00 p.m., New York City time, on Monday, June 3, 2013.

Based on the latest information provided by the exchange agent, as of the original expiration date of the exchange offer, approximately $299,880,000.00 in aggregate principal amount of the outstanding 8.25% Senior Notes due 2018 have been tendered for exchange.

Except as set forth herein, the terms and conditions of the exchange offer remain unchanged. EPL may further extend the expiration date of the exchange offer in its sole discretion.

The exchange offer, which is required by the registration rights agreement for the outstanding 8.25% Senior Notes, is being made pursuant to the prospectus dated May 1, 2013. Copies of the exchange offer prospectus and related transmittal materials governing the exchange offer are available from the exchange agent U.S. Bank National Association at:

U.S. Bank National Association
Corporate Trust Services
5555 San Felipe #1150
Houston, Texas 77056
ATTN: Mauri Cowen
Facsimile: (713) 235-9213
Telephone: (713) 235-9206

This press release is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell securities. The exchange offer is being made only pursuant to a prospectus and the related letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

Description of the Company

Founded in 1998, EPL is an independent oil and natural gas exploration and production company based in New Orleans, Louisiana, and Houston, Texas. The Company's operations are concentrated in the U.S. Gulf of Mexico shelf, focusing on the state and federal waters offshore Louisiana. For more information, please visit www.eplweb.com.

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," "plans," "projects," "estimates" or "anticipates" will or may occur in the future are forward-looking statements. We believe these judgments are reasonable, but actual results may differ materially due to a variety of important factors. Among other items, such factors might include: hurricane and other weather-related interference with business operations; the effects of delays in completion of, or shut-ins of, gas gathering systems, pipelines and processing facilities; stock market conditions; the trading price of EPL's common stock; cash demands caused by planned and unplanned capital expenditures; changes in general economic conditions; uncertainties in reserve and production estimates, particularly with respect to internal estimates that are not prepared by independent reserve engineers; unanticipated recovery or production problems; changes in legislative and regulatory requirements concerning safety and the environment as they relate to operations; oil and natural gas prices and competition; the impact of derivative positions; production expenses and expense estimates; cash flow and cash flow estimates; future financial performance; drilling and operating risks; our ability to replace oil and gas reserves; risks and liabilities associated with properties acquired in acquisitions; integration of acquired assets; volatility in the financial and credit markets or in oil and natural gas prices; and other matters that are discussed in EPL's filings with the Securities and Exchange Commission. (http://www.sec.gov/).

CONTACT: Investors/Media T.J. Thom, Chief Financial Officer 504-799-1902 tthom@eplweb.com

Source:EPL Oil & Gas, Inc.