Sets Conference Call for Third Quarter 2002

DALLAS, October 25, 2002--Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") today announced that it will release its 3rd Qtr. results on Tuesday, Nov. 5, 2002.

You are invited to listen to our conference call broadcast live over the Internet on Tuesday, Nov. 5, 2002 at 9:00 a.m. CST. Gareth Roberts, President and Chief Executive Officer, Phil Rykhoek, Senior Vice President and C.F.O., Mark Worthey, Senior Vice President -- Operations and Tracy Evans, Senior Vice President of Reservoir Engineering, will lead the call. The call may be accessed at our Web site at www.denbury.com. If you are unable to participate during the live broadcast, the call will be archived on our Web site for approximately 30 days. The audio portion of the call will also be available for playback by phone for one month after the call by dialing 888/203-1112, passcode 546725.

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 and holds key operating acreage in the onshore Louisiana and offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

Hosts Analyst Conference

DALLAS, October 16, 2002--Denbury Resources Inc. (NYSE:DNR), announced that it is hosting a conference for analysts on Oct. 17 and 18 in New Orleans with several of the Company's management presenting specific operational and financial updates. The slide presentation that will be used at the conference will be available on Denbury's website, www.denbury.com on Oct. 17, and will include updated operational and comparative financial data and an in-depth review of the Company's significant properties. To date, 23 sell-side analysts and selected asset managers have signed up for the informational field trip to Little Creek Field on Thursday and the Friday morning New Orleans presentations. Registration is ongoing and can be made through the contact numbers below.

The Company has returned most of its fields to production following Hurricane Lili. Most fields had little or no damage and were back on production within a few days following the storm. One offshore field, South Marsh Island 49, which was recently producing between 1,300 and 1,500 barrels of oil equivalent per day ("BOE/d") net to the Company, suffered extensive damage. The Company expects to have 60-70% of this field's production restored within the next week or two, although the remaining 30-40% of its production capacity may take several weeks, or even months, to repair. The cost of these repairs is not expected to be significant to the Company as they should be covered by insurance (other than the deductible amount). The Company's preliminary estimates are that it has lost approximately 100,000 barrels of oil equivalent of production (predominately natural gas) from Oct. 1 through Oct. 15 due to the storm, with the only significant ongoing production losses coming from South Marsh Island 49 as previously outlined. This loss of revenue is not covered by insurance. As a point of reference, the Company expects to produce slightly more than 13.1 million BOEs during 2002.

Denbury Resources Inc. (www.denbury.com) is a growing independent oil and gas company and since 1993, all of its assets have been located in the United States. The Company is the largest oil and natural gas operator in Mississippi, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

Provides Operational Update

DALLAS, October 3, 2002--Denbury Resources Inc. (NYSE:DNR; "Denbury" or the "Company") today reported that the increase in third quarter production related to the properties acquired from COHO, which closed in late August, was approximately equally offset by shut-ins and delays in its operations as a result of Tropical Storm Isidore in late September.

The Company's preliminary estimate of third quarter 2002 production volumes is between 35,000 and 35,500 BOE/d, within the range of its production guidance prior to the COHO acquisition.

The Company has shut-in most of its Gulf of Mexico and onshore Louisiana production again due to deteriorating weather conditions from Hurricane Lili. Total production volumes affected by the closure are in excess of 90 million cubic feet of natural gas equivalent per day, predominately natural gas. It is anticipated that the onshore production will be shut-in for only one to two days, while the offshore production will remain shut-in for up to a week, assuming that there is no significant damage as a result of the hurricane. All Denbury personnel and associated contract personnel have been evacuated.

Additional Hedging
Separately, the Company announced that as part of its regular hedging program it has recently obtained additional swaps (forward sales) and no-cost collars from five different institutions for its 2003 and 2004 production. For 2003, the Company swapped 2,000 Bbls/d at $25.70 and swapped 10 MMcf/d at $3.90 per MMBtu. For 2004, the Company swapped 5,000 Bbls/d at an average price of $23.04 and obtained a no-cost natural gas collar for 30 MMcf/d with a price floor of $3.50 per MMBtu and a ceiling price of $4.45 per MMBtu. Although the Company has not completed its production forecast for 2003 or 2004, it expects that these hedges, combined with its prior hedges, will cover between 70% and 80% of its anticipated 2003 oil and natural gas production, between 40% and 50% of its anticipated 2004 oil production and between 20% and 30% of its anticipated 2004 natural gas production.

Denbury Resources Inc. is a growing independent oil and natural gas company engaged in acquisition, development and exploration activities in the U.S. Gulf Coast region. The Company holds significant reserves and production in Mississippi, where it is the largest producer of oil and natural gas, onshore in Louisiana and in the offshore Gulf of Mexico. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release contains forward-looking statements, consisting of opinions, forecasts, projections, guidance and other statements, other than historical financial information, regarding budgeted capital expenditures, expected production and financial results, among others. These statements are based on assumptions that are subject to change and to risks and uncertainties, especially volatility in oil and gas prices, geological risks, drilling results and production costs, and other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, including the Company's reports on Forms 10-K and 10-Q. Although management believes the expectations reflected in such forward-looking statements are reasonable based on currently available information, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Estimates of future financial or operating performance provided by the Company are based on existing market conditions and engineering and geologic information available at this time. Actual financial and operating performance may vary from these estimates. Future performance is dependent upon oil and gas prices, exploratory and development drilling results, engineering and geologic information and risks and changes in market conditions.

Completes COHO Acquisition

DALLAS, September 3, 2002--Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") today announced the completion of its previously announced acquisition of the Coho Energy Inc.'s ("COHO") Gulf Coast properties.

The purchase price paid at closing was approximately $49 million, after adjusting for interim net cash flow and minor purchase price adjustments. There may also be a subsequent adjustment to the purchase price after a final accounting is made during the next 30 to 60 days. The acquisition was funded with $44 million of bank financing under the Company's existing credit facility, bringing the current balance of the Company's bank debt to $180 million.

The Company also announced that Mr. Gareth Roberts, President and CEO, will be presenting at the Lehman Brothers CEO Energy/Power Conference in New York on Sept. 5, 2002 at 11:20 a.m. Mr. Robert's presentation will be webcast and available from Denbury's website, www.denbury.com, and archived for approximately 30 days thereafter.

Denbury Resources Inc. is a growing independent oil and gas company. The Company is the largest oil and natural gas operator in Mississippi, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

Announces Plans for Proposed COHO Acquisition

DALLAS, August 21, 2002--Denbury Resources Inc. (NYSE:DNR), in conjunction with Denbury President and CEO Gareth Roberts' presentation today at a New York luncheon sponsored by the Company, discussed its long-term plans for development of the previously announced pending purchase of the Coho Energy Inc. ("COHO") Gulf Coast properties for $50.3 million. Consummation of the purchase through the U.S. Bankruptcy Court is currently scheduled for August 29th, subject to the resolution of title and environmental issues and other normal closing adjustments.

As previously announced, Denbury estimates that the proven reserves for this acquisition will be approximately 14.4 million barrels of oil. Included in the acquisition is Brookhaven Field, a possible tertiary carbon dioxide ("CO2") injection candidate located close to the Company's 183-mile CO2 pipeline. Initial tertiary recovery development may not be undertaken at this field for two to three years, as the field is currently producing approximately 750 barrels of oil per day and is still undergoing waterflood operations. Once tertiary operations commence, the Company anticipates spending $6 to $10 million per year for the first several years, with a total of approximately $75 to $85 million projected to be invested there over the field's predicted life. Currently, Denbury estimates the total proved reserves of the Brookhaven Field to be 2.9 million barrels of oil. The Company also has preliminary estimates that indicate around 20 million net barrels of additional oil may be recoverable from Brookhaven Field using CO2 injection, based on its success at Little Creek and Mallalieu Fields. Since a pilot project has not been performed to date at this field, the Company is not expected to immediately classify or record any of this additional potential as proved reserves. The Company expects to convert this potential to proved reserves as tertiary development of this field occurs, with the initial proved reserves expected to be recognized in two to three years.

The acquisition of Brookhaven field is part of Denbury's strategy to expand its CO2 recovery operations throughout the Lower Tuscaloosa oil fields of Southwest Mississippi. Denbury is strategically positioned to develop the potential tertiary reserves in these fields because of its ownership of CO2 reserves and associated pipeline. Denbury operates the only active CO2 tertiary recovery operations in the basin at Little Creek, Lazy Creek and Mallalieu Fields and has expertise in installing and managing such an operation. Including some fields which Denbury does not currently own and the potential at Brookhaven Field, the Company estimates that approximately 60-75 million barrels of additional net oil reserves (over and above the 19.7 million barrels of proved reserves currently booked at Little Creek and Mallalieu Fields), may be available to Denbury in the vicinity of its pipeline through tertiary recovery operations. With the addition of Brookhaven field, McComb field (another previously announced acquisition expected to close during August) and other smaller fields where leasing is still in progress (all of which are over 65% leased), the Company estimates that it would then control 75% to 85% of the aforementioned future potential in this area.

Denbury Resources Inc. is a growing independent oil and gas company. The Company is the largest oil and natural gas operator in Mississippi, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release, other than historical financial information, contains forward-looking statements that involve risks such as those involved in drilling activity, reserve forecasts and those caused by price volatility, and uncertainties as to drilling results, reserve quantities, production levels, commodity prices, and financial results as detailed in the Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.

Announces Record Production Levels and Second Quarter 2002 Results

DALLAS, August 1, 2002--Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") today announced its second quarter 2002 financial and operating results. The Company posted a 27% increase in production as compared to the second quarter of 2001, resulting in its best ever quarterly-average daily production of 35,526 barrels of oil equivalent per day (BOE/d). The Company posted earnings for the quarter of $13.5 million, or $0.25 per common share, despite a 7% drop in NYMEX oil prices and a 37% drop in NYMEX natural gas prices between the two respective quarters. This compares to earnings for the comparative prior year quarter of $20.1 million, or $0.44 per common share. Cash flow from operations for the quarter (excluding the changes in other assets and liabilities) was $43.4 million, or $0.82 per common share, as compared to cash flow during the second quarter of 2001 of $45.2 million, or $0.98 per common share.

Continued Production Increases

Denbury's second quarter 2002 average daily production of 35,526 BOE/d was 27% higher than the 27,902 BOE/d average for the comparable period in 2001, making it the 12th quarterly increase in the last 13 quarters. Second quarter 2002 production was balanced, with 50% oil and 50% natural gas.

The increases in daily production are the result of strategic acquisitions and successful development and exploitation work on these acquisitions. Approximately 87% of the 7,624 BOE/d production increase between the respective second quarters came from the acquisition of Matrix Oil & Gas in July 2001, based on the production rates at the time of acquisition. Production from the Matrix properties averaged approximately 8,146 BOE/d (predominately natural gas) during the second quarter of 2002, the highest quarterly average to date from these properties, approximately 1,479 BOE/d (22%) higher than their production rates at the time of acquisition. The Matrix acquisition is performing better than expected, with production at or above projections. Proved reserves associated with the Matrix acquisition as of December 31, 2001 are up 35% since the acquisition, or up 46% based upon adding back production.

The majority of the remaining production increases relate to positive response from the Company's Mississippi CO2 properties. Production at Little Creek Field (including West Little Creek), during the second quarter of 2002 averaged a net 3,701 BOE/d, almost triple its 1,350 BOE/d production rate at the time of acquisition in August 1999. Production from Mallalieu Field, purchased in April 2001, began to respond to the injection of CO2 which commenced in November of 2001, increasing from approximately 75 Bbls/d at the time of acquisition to a second quarter average of 572 Bbls/d. The production increases from the Company's offshore properties and its CO2 properties were partially offset by general production declines as a result of normal depletion in its other two core areas, Eastern Mississippi and onshore Louisiana.

Second Quarter 2002 Financial Results

Even though NYMEX oil and natural gas prices were down 7% and 37% respectively, Denbury posted a second quarter 2002 profit of $13.5 million, or $0.25 per common share, primarily as a result of the higher production levels. Cash flow from operations (excluding the changes in other assets and liabilities) for the second quarter of 2002 was $43.4 million, or $0.82 per common share. This compares to net income of $20.1 million, or $0.44 per common share, and cash flow of $45.2 million, or $0.98 per common share, for the comparable period in 2001. The Company's realized natural gas prices (excluding hedges) for the second quarter of 2002 averaged $3.51 per thousand cubic feet (Mcf), down from the average of $4.92 per Mcf during the second quarter of 2001. Even though the NYMEX oil prices declined 7% between the respective quarters, the Company's net realized oil prices (excluding hedges) were identical for both quarters at $22.94 per Bbl. The Company's oil price discount to NYMEX was one of the lowest in the Company's history as a result of favorable movement of certain oil indices and prices, including the West Texas Sour oil postings and the price of Mayan crude. The Company's growth in production from its CO2 properties is gradually lowering the overall discount to NYMEX as this production is light sweet oil which receives near NYMEX pricing. However, the Company would expect that its oil price discount to NYMEX would increase in the short-term to a level more in line with the Company's historical averages as these oil indices are not likely to remain at their historical highs relative to NYMEX.

Between the respective second quarters, lease operating expenses increased 8% on a BOE basis, primarily due to more than usual maintenance and repair expenses on offshore platforms. Production taxes and marketing expenses also increased slightly on a BOE basis as the savings due to lower commodity prices were more than offset by higher transportation expenses, primarily from the Matrix offshore properties. General and administrative expenses increased 13% on a per BOE basis between the respective quarters, as a result of higher personnel costs and a lower percentage of overhead allocated to operations as a result of the lower capital budget and less drilling activity. Net cash interest expense increased 6% on a per BOE basis in 2002 as the increase in debt levels, which primarily resulted from the Matrix acquisition, was not quite offset by the higher production levels. Non-cash depreciation and depletion increased 45% on a BOE basis as a result of the acquisitions made during 2001, primarily the Matrix acquisition, at a higher than company-average cost per BOE.

2002 Outlook

Denbury's 2002 development and exploration budget is currently set at $115 million, (including approximately $6 million of 2001 projects carried over to 2002), of which approximately $50 million has been spent year-to-date. Any acquisitions made by the Company will increase these capital budget amounts. Pending the final determination of the U.S. Bankruptcy Court, the Company expects to close on the Gulf Coast assets of COHO Energy, Inc. in late August. This acquisition is expected to add approximately 14.4 million barrels of oil reserves at a cost of approximately $50 million. In addition, the COHO acquisition includes Brookhaven field, a potential tertiary recovery operation located near the Company's CO2 pipeline. The Company also expects to close on the McComb Field acquisition during August, another potential tertiary recovery operation located near the Company's CO2 pipeline, at a cost of approximately $2.5 million. These two acquisitions, coupled with the completion of the Company's leasing program on three additional fields in the area, should provide the Company with $30 to $50 million of projects per year for the next several years and steady production and reserve growth from this area. The balance of the Company's cash flow can be deployed in its other core areas.

Denbury's current total debt is approximately $336 million, with $84 million undrawn on its bank borrowing base of $220 million. In conjunction with the closing of the COHO acquisition, the Company expects that its debt will increase by approximately $50 million from its current level. The Company anticipates that its overall debt level will gradually decrease during the fourth quarter of 2002 as it expects to have excess cash flow from operations, assuming that commodity prices do not decrease, and it may also generate additional funds from the sale of minor properties or a portion of properties included in the COHO acquisition.

Due to the results from the first two quarters, the Company is slightly increasing its targeted 2002 production levels to 35,500 BOE/d. Based on this anticipated forecasted average for the year, the Company's organic production growth would average approximately 14% above average 2001 levels. The COHO acquisition is expected to add approximately 4,000 Bbls/d of additional production for the last quarter of 2002, assuming that the Company does not sell a portion of this acquisition.

Gareth Roberts, Chief Executive Officer, said: "Commodity prices have rebounded significantly in the second quarter from the averages during the prior two quarters. Based on 2002's current price futures, we expect to generate $35 million to $50 million of excess cash flow above our current $115 million budget. Production from our CO2 program is ahead of schedule. We are in the process of attempting to increase our CO2 production through the addition of compression and the drilling of another CO2 well so that we can increase the amount of our CO2 injections which are needed to continue the production inclines on our tertiary recovery projects. We are in the process of developing a long-term plan for these fields which we plan to discuss in more detail in the future. Our offshore properties that we acquired from Matrix are also doing well and we have two or three potentially high impact wells that we are drilling offshore later this year. We will continue to look for other acquisitions in our other core areas, but if none materialize, we have a robust drilling inventory of quality projects in-house. Commodity prices have rebounded nicely, but should they drop, we have protected ourselves with commodity hedges through 2003 to help protect our capital program and through 2004 on the pending COHO acquisition. We continue to be enthusiastic about our future."

Conference Call

The public is invited to listen to the Company's conference call set for today, August 1, 2002, at 10:00 A.M. CDT. The call will be broadcast live over the Internet at our web site: www. denbury.com. If you are unable to participate during the live broadcast, the call will be archived on our web site for approximately 30 days and will also be available for playback for one week by dialing 888/203-1112, passcode 157201.

Denbury Resources Inc. is a growing independent oil and gas company. The Company is the largest oil and natural gas operator in Mississippi, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release, other than historical financial information, contains forward looking statements that involve risks such as those involved in drilling activity and those due to price volatility, and uncertainties as to drilling results, production levels, commodity prices, and financial results as detailed in the Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.

Sets Conference Call for Second Quarter

DALLAS, July 19, 2002-- Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") today announced that it will release its Second Quarter 2002 results on Thursday, August 1, 2002.

You are invited to listen to our conference call broadcast live over the Internet on Thursday, August 1, 2002 at 10:00 a.m. CDT. Gareth Roberts, President and Chief Executive Officer, Phil Rykhoek, Chief Financial Officer, Mark Worthey, Vice President - Operations and Tracy Evans, Vice President of Reservoir Engineering, will lead the call. The call may be accessed at our website at www.denbury.com. If you are unable to participate during the live broadcast, the call will be archived on our website for approximately 30 days. The audio portion of the call will also be available for playback by phone for one month after the call by dialing 888-203-1112, passcode 157201.

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 and holds key operating acreage in the onshore Louisiana and offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

Acquires Key Field in Mississippi

DALLAS, July 12, 2002--Denbury Resources Inc. (NYSE:DNR), today announced that it has entered into an agreement to acquire nearly all of the working interest in the McComb Field in Southwestern Mississippi.

McComb Field
On July 11, 2002, Denbury signed a purchase and sale agreement to acquire McComb Field with the intent of expanding its tertiary carbon dioxide ("CO2") injection operations. The total cash consideration for the field will be $2.5 million with possible additional consideration equal to 15% of the sales price per barrel of oil for that portion of the future sales price that exceeds $22.00 per barrel, with such additional consideration not to exceed $0.75 per barrel. The Company's CO2 pipeline crosses through the northwest corner of the McComb Field and the field is only a few miles from our CO2 facilities at Olive Field acquired last year.

Initial development is planned for this field late this year or the first half of 2003, with a total of approximately $40 to $50 million projected to be invested there over the next three years, with up to $80 million of total development over the field's projected life. Initial estimates by Denbury indicate that there may be between 15 and 20 million net barrels of oil recoverable from McComb Field using CO2 injection, based on our success at Little Creek and Mallalieu Fields. Since a pilot project has not been performed to date at this field, the Company will not be able to immediately classify or record any of these probable reserves as proved. The Company expects to recognize these reserves as development occurs, with the initial proved reserves expected to be recognized in 2003. The purchase is expected to be completed during August, subject to normal and customary closing conditions.

The acquisition of McComb field is part of Denbury's strategy to expand its CO2 recovery operations throughout the Lower Tuscaloosa oil fields of Southwest Mississippi. In late June, the Company announced that it was the high bidder in the COHO Energy Inc. ("COHO") Gulf Coast property auction, with closing scheduled for late August, subject to final authorization and approval by the U.S. Bankruptcy Court. This pending COHO acquisition includes Brookhaven Field, another Lower Tuscaloosa oil field located near the Company's CO2 pipeline in Southwest Mississippi. Denbury is strategically positioned to develop the potential tertiary reserves in these fields because of its ownership of CO2 reserves and pipeline. Denbury operates the only active CO2 operations in the basin at Little Creek, Lazy Creek and Mallalieu Fields and has expertise in installing and managing such an operation. The Company estimates that through tertiary recovery operations, approximately 60-75 million barrels of additional net oil reserves, including the potential at McComb and Brookhaven Fields, may be available to Denbury in fields in this part of the state, including some fields which Denbury does not currently own.

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, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release, other than historical financial information, contains forward looking statements that involve risks such as those involved in drilling activity, reserve forecasts and those caused by price volatility, and uncertainties as to drilling results, reserve quantities, production levels, commodity prices, and financial results as detailed in the Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.

High Bidder On COHO Mississippi Properties

DALLAS, June 28, 2002--Denbury Resources Inc. (NYSE:DNR), today announced that it was the high winning bidder for the COHO Energy Inc. ("COHO") Gulf Coast properties auctioned yesterday in the U.S. Bankruptcy Court in Dallas, Texas.

Consummation of the purchase, currently scheduled by the Court for August, is subject to the completion of title review, field and environmental inspections, completion of an asset purchase agreement and final authorization and approval by the U.S. Bankruptcy Court.

Denbury's winning bid was $50.3 million for the Gulf Coast properties of COHO, which consists of ten fields, eight of which are located in Mississippi and two in Texas. Seven of the eight Mississippi fields and one Texas field are operated by COHO. Initial estimates by the Company indicate the acquisition includes net proven reserves of approximately 14.4 million barrels of oil with current production of between 4,000 and 4,500 barrels of oil per day. The purchase is to have an effective date of June 1, 2002. The Company plans to initially finance the purchase with a draw on its $84 million of availability under its bank facility, although it may consider more permanent financing subsequent to closing and may also consider selling a portion of the acquired properties. The Mississippi fields to be purchased include interests in the Brookhaven, Laurel, Martinville, Soso and Summerland fields, with such interests representing operational control with working interests in excess of 90%, plus interests in the smaller Bentonia, Cranfield and Glazier fields.

Included in the acquisition is Brookhaven Field, a possible tertiary carbon dioxide injection ("CO2") candidate located close to the Company's 183 mile CO2 pipeline. The acquisition of Brookhaven field is part of Denbury's strategy to expand its CO2 recovery operations throughout the Lower Tuscaloosa oil fields of Southwest Mississippi. These fields have produced over 245 million barrels of light sweet crude oil to date from the Lower Tuscaloosa sands, the majority of which are currently marginal producers or abandoned. Denbury is strategically positioned to develop the potential tertiary reserves in these fields because of its ownership of CO2 reserves and pipeline. Denbury operates the only active CO2 operations in the basin at Little Creek, Lazy Creek and Mallalieu Fields and has expertise in installing and managing such an operation.

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, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release, other than historical financial information, contains forward looking statements that involve risks such as those involved in drilling activity, reserve forecasts and those caused by price volatility, and uncertainties as to drilling results, reserve quantities, production levels, commodity prices, and financial results as detailed in the Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.

Announces $15 Million Increase to 2002 Budget

DALLAS, June 11, 2002--Denbury Resources Inc. (NYSE:DNR), today announced that it has acquired oil hedges for 2003 covering 10,000 Bbls/d, or 40% to 60% of its estimated 2003 oil production, with a floor price of $20.00 and a ceiling price of $30.00 per Bbl, at a total cost of approximately $1.2 million.

In light of the recently higher commodity prices and current 2002 pricing expectations, the Company has increased its 2002 exploration and development ("CAPEX") budget by $15 million, from $100 million (including $5 million carried over from 2001) to $115 million.

2003 Oil Hedges

As part of its regular hedging program, the Company has recently obtained oil collars from three different financial institutions for a portion of its anticipated 2003 oil production. These collars cover 10,000 Bbls/d, with a price floor of $20.00 per Bbl and a ceiling price of $30.00 per Bbl. Although the Company has not finalized its production forecast for 2003, it expects that these hedges will cover between 40% and 60% of its anticipated 2003 oil production.

The Company has previously acquired natural gas hedges for 2003 which cover between 50% and 75% of the Company's anticipated natural gas production, with a floor price $2.75 per MMBtu and an average ceiling price of approximately $4.02 per MMBtu.

Increase in Capital Expenditure Program

In light of recently higher commodity prices and associated higher cash flow currently anticipated in 2002 based upon these prices, the Company's 2002 CAPEX budget was recently increased from approximately $100 million to approximately $115 million. These totals include five million dollars that was expected to be spent in 2001 but was carried over into 2002. The majority of the $15 million increase is targeted for drilling three additional wells, two of which are on the Company's offshore properties, with the balance allocated to several workovers, recompletions, and additional facilities. The increase in spending is not expected to significantly impact the Company's forecasted 2002 production rate as the higher impact projects are not expected to come on production until 2003.

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, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release, other than historical financial information, contains forward looking statements that involve risks such as those involved in drilling activity, reserve forecasts and those caused by price volatility, and uncertainties as to drilling results, reserve quantities, production levels, commodity prices, and financial results as detailed in the Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.

Closes Purchase of the General Partner of Genesis Energy, L.P.

DALLAS, May 15, 2002--Denbury Resources Inc. (NYSE:DNR) ("Denbury") announced today that it closed its previously announced purchase of Genesis Energy, L.L.C. (Genesis), the general partner of Genesis Energy, L.P. (the Partnership), on May 14, 2002.

As a result of this transaction, Richard Janiak of Salomon resigned from the Board of Directors. Remaining on the Board of Genesis are Mark J. Gorman, President and CEO, and Susan O. Rheney, Herbert I. Goodman and J. Conley Stone. Joining the Genesis Board are Denbury's CEO and President, Gareth Roberts, as its new Chairman, along with Phil Rykhoek, Ronald T. Evans and Mark A. Worthey, all officers of Denbury.

Gareth Roberts, Chief Executive Officer, said: "We look forward to our new relationship with Genesis. Given Genesis' pipeline assets in Mississippi and our recent successes with our CO2 projects in that area, we look forward to what we can accomplish by working together."

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, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

Genesis Energy, L.P., operates crude oil common carrier pipelines and is an independent gatherer and marketer of crude oil in North America, with operations concentrated in Texas, Louisiana, Alabama, Florida and Mississippi.

This press release, other than historical financial information, contains forward looking statements that involve risks such as those involved in drilling activity and those due to price volatility, and uncertainties as to drilling results, production levels, commodity prices, and financial results as detailed in Denbury's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and Denbury's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.

Announces Agreement to Acquire the General Partner of Genesis Energy, L.P.

DALLAS, May 6, 2002--Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") today announced the signing of an agreement to acquire Genesis Energy, L.L.C., the general partner of Genesis Energy, L.P. (AMEX:GEL) for total consideration, including expenses and commissions, of approximately $2.0 million. The general partner interest to be acquired owns 2% of the limited partnership. The transaction is expected to close on May 15, 2002.

Overview of Genesis

Genesis is a publicly traded master limited partnership engaged in two primary lines of business: crude oil gathering and marketing and pipeline transportation. Currently, Genesis is purchasing approximately 67,000 barrels per day (Bbls/d) of crude. They also utilize their trucking fleet of 75 leased tractor-trailers to transport crude purchased at the wellhead to pipeline injection points, terminals or refineries. Their operations are concentrated in Alabama, Florida, Mississippi, Louisiana, and Texas.

Genesis also owns and operates three common carrier crude oil pipeline systems. They include the 703 mile Texas system, the 114 mile Jay System extending between Florida and Alabama and the 261 mile Mississippi system extending between Mississippi and Louisiana. Complementing the pipelines is 1.5 million barrels of crude oil storage capacity.

Strategic Fit and Joint Opportunities

Genesis owns and operates a 261 mile crude oil pipeline system in Mississippi adjacent to several of Denbury's existing and prospective oil fields. Denbury is the largest oil and natural gas operator in the state of Mississippi. There may be mutual benefits to Denbury and Genesis due to this common production and transportation area. Because of the new relationship, Genesis may obtain certain commitments for increased crude oil volumes, while Denbury may obtain the certainty of transportation for its oil production at competitive market rates. With Denbury's anticipated expansion in the area related to its continued acquisition and development of old oil fields using carbon dioxide (CO2), there may be future additional benefits for both entities. If development continues as planned, Denbury would expect to add additional crude oil gathering and CO2 supply infrastructure to these fields as it commences its tertiary recovery operations. Genesis may be able to provide or acquire this infrastructure and provide support to Denbury's development of these fields. Furthermore, with Denbury's anticipated production increases from these fields, over time it will require more and more transportation of its crude oil.

Gareth Roberts, Chief Executive Officer, said: "With the uncertainty surrounding midstream assets since the Enron collapse, Denbury felt it was necessary to ensure the long term survival of an important segment of its transportation infrastructure. We feel that we have improved our economics in this key operating area, with greater control over the transportation and price of, and potentially greater value for, our Mississippi production. We expect there will be significant benefits to both parties from this transaction and we look forward to working with our new business partner. Even though we have an agreement to acquire the general partner of Genesis, we expect Genesis to continue to operate as a separate entity with its own management and personnel. "

Conference Call

Genesis is planning to host a conference call regarding their first quarter earnings on May 14, 2002 at 11:00 A.M. CDT. Members of Denbury's management, who are among those from Denbury that are expected to join the board of directors of the general partner, will also be available on that call to discuss this transaction. The call will be broadcast live over the Internet at Genesis's web site at www.genesiscrudeoil.com. The public is invited to join. If you are unable to participate during the live broadcast, the call will be archived on Genesis' web site.

PetroGrowth Advisors of Dallas, Texas acted as Denbury's financial advisor in the transaction.

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, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release, other than historical financial information, contains forward looking statements that involve risks such as those involved in drilling activity and those due to price volatility, and uncertainties as to drilling results, production levels, commodity prices, and financial results as detailed in Denbury's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and Denbury's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.

To Purchase General Partner of Genesis Energy, L.P.

HOUSTON, May 6, 2002--Genesis Energy, L.P. (AMEX:GEL) announced today that Salomon Smith Barney (Salomon) and Denbury Resources Inc. (Denbury) (NYSE:DNR) have executed an agreement to sell Genesis Energy, L.L.C. (Genesis), the general partner of Genesis Energy, L.P. (the Partnership), to Denbury on May 15, 2002.

In anticipation of this transaction, on May 3, 2002, Citicorp North America Inc. and Genesis amended their senior subordinated credit agreement (Facility). The size of the Facility was reduced to $80 million, at the request of Genesis, and various covenants and restrictions were amended to reduce the cost of the Facility and to increase operating flexibility for Genesis. The existing provision restricting the ability of Genesis to make distributions unless the borrowing base exceeds utilization of the Facility by $20 million was not changed.

Mark Gorman, president and chief executive officer of Genesis, said, "This transaction will complete the second phase of Genesis' three part strategy to restructure the Partnership, find a strategic partner to grow the business and increase distributions for our unitholders. We now will have a strategic partner with whom we can execute an acquisition program.

"Denbury has MLP-qualified assets that could be made available for acquisition by Genesis. Further, Genesis has assets located in Mississippi that are of strategic importance to Denbury. We look forward to working with Denbury to continue our restructuring strategy."

Gareth Roberts, president and chief executive officer of Denbury, said, "We are very pleased to be in a position to acquire ownership of the general partner of Genesis. In addition to our existing MLP-qualified assets, our technological focus in the development of oil and gas reserves should create future acquisition opportunities for Genesis. We feel that this transaction will significantly benefit both Denbury's shareholders and the Partnership's public unitholders."

The public is invited to listen to a joint conference call with management from Genesis and Denbury representatives set for May 14, 2002, at 11:00 a.m. CDT. The call will be broadcast live over the Internet at our Web site: www.genesiscrudeoil.com. If you are unable to participate during the live broadcast, the call will be archived on our Web site.

Genesis Energy, L.P., operates crude oil common carrier pipelines and is an independent gatherer and marketer of crude oil in North America, with operations concentrated in Texas, Louisiana, Alabama, Florida and Mississippi.

Denbury Resources Inc. (www.denbury.com) is a growing independent oil and gas company, and since 1993 all of its assets have been located in the United States. Denbury Resources is the largest oil and natural gas operator in Mississippi, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. Denbury Resources increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Genesis believes that its expectations are based upon reasonable assumptions, its goals may not be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements herein include the timing and extent of changes in commodity prices for oil, ability to obtain adequate credit facilities, ability to make acquisitions, environmental risks, government regulation, the ability of the Company to meet its stated business goals and other risks noted from time to time in the Company's Securities and Exchange Commission filings.

Available for Q&A Following Conference Call First Quarter 2002 Results

DALLAS, May 2, 2002--Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") today announced that management is available for any questions regarding today's first quarter 2002 results announcement.

Due to an electrical storm in the area, Denbury's first quarter conference call was unexpectedly interrupted before the question and answer session began. Questions regarding the first quarter results can be made directly to Gareth Roberts, President and CEO, or to Phil Rykhoek, Chief Financial Officer, at 972/673-2000. Laurie Underwood, Investor Relations, will also be available at 972/673-2166.

You are invited to listen to our archived conference call broadcast on our web site at www.denbury.com. The call will be archived on our web site for approximately 30 days. The audio portion of the call will also be available for playback by phone for one month after the call by dialing 888/203-1112, passcode 468334.

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 and holds key operating acreage in the onshore Louisiana and offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

Reports First Quarter 2002 Results

DALLAS, May 2, 2002--Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") today announced its first quarter 2002 financial and operating results. The Company posted a 33% increase in production as compared to the first quarter of 2001, resulting in its best ever quarterly-average daily production of 35,361 barrels of oil equivalent per day (BOE/d). The Company posted earnings for the quarter of $4.5 million, or $0.09 per common share, despite a 51% drop in its weighted average net revenue per BOE between the two respective quarters. This compares to earnings for the comparative prior year quarter of $26.0 million, or $0.56 per common share. Cash flow from operations for the quarter (excluding the changes in other assets and liabilities) was $28.5 million, or $0.54 per common share, as compared to cash flow during the first quarter of 2001 of $55.0 million, or $1.19 per common share.

Continued Production Increases

Denbury's first quarter 2002 average daily production of 35,361 BOE/d was 33% higher than the 26,635 BOE/d for the comparable period in 2001, marking the 11th quarterly increase out of the last 12 quarters. By the Company's estimates, the 33% increase is one of the largest positive changes in production levels for the independent oil and gas sector. First quarter 2002 production was balanced, with 50% oil and 50% natural gas.

The increases in daily production are the result of strategic acquisitions and successful development and exploitation work on these acquisitions. Approximately 75% of the 8,726 BOE/d production increase between the respective first quarters came from the acquisition of Matrix Oil & Gas in July 2001, based on the production rates at the time of acquisition. Production from the Matrix properties averaged approximately 7,526 BOE/d (predominately natural gas) during the first quarter of 2002, the highest quarterly average to date from these properties, approximately 859 BOE/d (13%) higher than their production rates at the time of acquisition. The Matrix acquisition is performing better than expected, with production at or above projections. Proved reserves associated with the Matrix acquisition as of December 31, 2001 are up 35% since the acquisition, or up 46% based upon adding back production. In addition to the production increases on the properties acquired from Matrix, the Company also had production increases on its other offshore properties that aggregated approximately 2,076 BOE/d when compared to the first quarter of 2001.

The majority of the remaining production increases relate to positive response from the Company's Mississippi CO2 properties. Production at Little Creek Field (including West Little Creek), during the first quarter of 2002 averaged 3,623 BOE/d, almost triple its 1,350 BOE/d production rate at the time of acquisition in August 1999. Production from Mallalieu Field, purchased in April 2001, began to respond to the injection of CO2 which commenced in November of 2001, increasing from approximately 75 Bbls/d at the time of acquisition to a first quarter average of 245 Bbls/d. The response in this field is ahead of expectations and this field is continuing to respond subsequent to quarter end, producing an estimated 625 net Bbls/d during the month of April 2002. The production increases from the Company's offshore properties and its CO2 properties were partially offset by general production declines in its other two core areas, Eastern Mississippi and onshore Louisiana.

First Quarter 2002 Financial Results

Even though the Company's weighted average per BOE commodity price decreased more than 50% in the first quarter of 2002 as compared to the first quarter of 2001, Denbury posted a first quarter 2002 profit of $4.5 million, or $0.09 per common share, as a result of the higher production levels. Cash flow from operations (excluding the changes in other assets and liabilities) for the first quarter of 2002 was $28.5 million, or $0.54 per common share. This compares to net income of $26.0 million, or $0.56 per common share, and cash flow of $55.0 million, or $1.19 per common share, for the comparable period in 2001. The Company's realized natural gas prices (excluding hedges) for the first quarter of 2002 averaged $2.43 per thousand cubic feet (Mcf), a 68% decrease from the average of $7.67 per Mcf during the first quarter of 2001, and its realized oil prices (excluding hedges) for the first quarter of 2002 averaged $17.43 per Bbl, a 28% decrease from the $24.18 per Bbl average in the first quarter of 2001. The Company collected $2.6 million on its commodity hedges during the first quarter of 2002, increasing its average realized natural gas price to $2.65 per Mcf and its average realized oil price to $17.72 per Bbl. There were not any cash receipts or payments on the Company's commodity hedges during the first quarter of 2001 because of high prices.

Between the respective first quarters, the Company lowered every one of its cash expenses on a per BOE basis. Lease operating expenses decreased 7% on a BOE basis between the respective quarters of 2001 and 2002, primarily due to savings resulting from (i) the Company's purchase of CO2 producing wells, facilities and reserves in February 2001, which lowered the Company's cost per Mcf from $0.25 to approximately $0.10, and (ii) the Company's purchase of Matrix Oil & Gas in July 2001, which increased the Company's natural gas production so that its ratio of oil to natural gas production became approximately 50/50, with natural gas having a lower overall operating cost per BOE.

General and administrative expenses decreased 9% on a per BOE basis between the respective quarters, as production growth outpaced the overall increase in costs and the Company was able to allocate more costs to operations as a result of an increase in the number of operated wells, primarily from the Matrix acquisition. Net cash interest expense decreased 4% on a per BOE basis in 2002 as the increase in debt levels, which primarily resulted from the Matrix acquisition, was more than offset by the higher production levels. Non-cash depreciation and depletion increased 40% on a BOE basis as a result of the acquisitions made during 2001 at a higher than company-average cost per BOE.

2002 Outlook

Denbury's 2002 development and exploration budget is currently set at $95 million, plus approximately $6 million of uncompleted 2001 projects. Any acquisitions made by the Company will increase these capital budget amounts. Denbury's current total debt is approximately $346 million, with $74 million undrawn on its recently reaffirmed bank borrowing base of $220 million. The Company anticipates that its overall debt level will not change substantially during 2002 as it plans to fund its development and exploration program with cash flow from operations and does not expect to borrow any significant amount unless it makes an acquisition.

At this time, the Company is leaving its targeted 2002 production levels unchanged at 35,250 BOE/d, even though it appears that production is responding faster than anticipated from the Company's CO2 properties. Based on this anticipated forecasted average for the year, the Company's organic production growth would average approximately 13% above average 2001 levels.

Gareth Roberts, Chief Executive Officer, said: "Commodity prices have rebounded significantly in the second quarter from the averages during the prior two quarters. Based on 2002's current price futures, we expect to generate $50 million to $60 million of excess cash flow above our current $95 million budget. While we may consider a modest increase to our capital expenditure budget of $10 million to $20 million, any remaining excess cash flow will be used to repay debt and/or fund, or partially fund, any potential acquisitions. We will continue to pursue acquisitions that are near our CO2 pipeline in Western Mississippi and Northeastern Louisiana, with plans to ultimately flood them with CO2 as we have at Little Creek and Mallalieu Fields. These acquisitions are typically inexpensive. In addition, we will continue to look for other acquisitions in our other core areas. We have a robust drilling inventory of quality projects in-house and expect 2002 to be a solid year, even though our production growth rate may slow relative to previous years as a significant portion of our focus will be on further development of our carbon dioxide tertiary floods. Should prices drop later in the year, we have protected ourselves by covering approximately 60% of our anticipated 2002 oil production with a price floor of $21.00 and covered approximately 85% of our anticipated 2002 natural gas production with a price floor of $2.50 for 2002. These hedges are with five different financial institutions."

Conference Call

The public is invited to listen to the Company's conference call set for today, May 2, 2002, at 10:00 A.M. CDT. The call will be broadcast live over the Internet at our web site: www.denbury.com. If you are unable to participate during the live broadcast, the call will be archived on our web site for approximately 30 days and will also be available for playback for one week by dialing 888/203-1112, passcode 316347.

Denbury Resources Inc. is a growing independent oil and gas company. The Company is the largest oil and natural gas operator in Mississippi, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices.

This press release, other than historical financial information, contains forward looking statements that involve risks such as those involved in drilling activity and those due to price volatility, and uncertainties as to drilling results, production levels, commodity prices, and financial results as detailed in the Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially.