In the merger, J.P. Morgan Securities Inc. acted as exclusive financial advisor to Denbury and Barclays Capital Inc. acted as exclusive financial advisor to Encore. Baker & Hostetler LLP acted as counsel to Denbury, and Baker Botts L.L.P. and Latham & Watkins LLP as counsel to Encore.

Cautionary Note on Forward-Looking Statements

Certain statements in this release may constitute "forward-looking statements" within the meaning of Federal securities laws. The events and circumstances referred to in forward-looking statements are subject to numerous risks and uncertainties that are detailed in Denbury's filings with the Securities and Exchange Commission, including its most recent reports on Forms 10-K and 8-K. Investors and securities holders are urged to consider closely the disclosure in our Annual Report on Form 10-K, available free of charge on our internet site ( www.denbury.com). You can also obtain this form from the SEC on the SEC’s internet site ( www.sec.gov) or by calling 1-800-SEC-0330. These risks and uncertainties are incorporated by this reference as though fully set forth herein and these events and circumstances may be influenced by factors that could cause actual outcomes and results to be materially different from those projected.

All written and oral forward-looking statements attributable to Denbury or persons acting on its behalf are expressly qualified in their entirety by such factors.

Copyright Business Wire 2010