EPL Announces Signing of Confidentiality Agreement with Stone Energy.NEW ORLEANS -- Energy Partners, Ltd. (EPL 1. EPL - Early PL/I. 2. EPL - Experimental Programming Language. 3. EPL - Eden Programming Language. U Washington. Based on Concurrent Euclid and used with the Eden distributed OS. Influenced Emerald and Distributed Smalltalk. ) (NYSE NYSE See: New York Stock Exchange :EPL) today said that it has entered into a confidentiality agreement with Stone Energy Corporation (Stone) (NYSE:SGY SGY Skagway, AK, USA (Airport Code) SGY Suomen Geoteknillinen Yhdistys (Finnish Geotechnical Society) ) to begin due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. in conjunction with its proposed acquisition of Stone. Richard A. Bachmann, EPL's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "EPL is pleased that Stone has quickly responded to us and will allow us to begin our due diligence process today. We look forward to completing this process quickly and are hopeful it will lead to a definitive merger agreement with the proposed transaction to close in the third quarter of 2006. We are excited about the prospect of creating a premier E&P company capable of generating considerable upside value for shareholders of both companies." 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 Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . Any statements made in this news release, other than those of historical fact, about an action, event or development, which the Company hopes, believes or anticipates may or will occur in the future, are "forward-looking statements" under U. S. securities laws. Such statements are subject to various assumptions, risks and uncertainties, which are specifically described in our Annual Report on Form 10-K for fiscal year ended December 31, 2005 filed with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance or an assurance that the Company's current assumptions and projections are valid. Actual results may differ materially from those projected. |
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