Stone Energy Corporation (Stone Energy) is an independent oil and natural gas company. The Company is engaged in the acquisition and subsequent exploration, development, operation and production of oil and gas properties located in the conventional shelf of the Gulf of Mexico, the deep shelf of the Gulf of Mexico, the deepwater of the Gulf of Mexico, the Rocky Mountain Basins and the Williston Basin. Stone Energy is also engaged in an exploratory joint venture in Bohai Bay, China. During the year ended December 31, 2006, it entered into an agreement to participate in the drilling of two exploratory wells on two offshore concessions in Bohai Bay, China. On April 23, 2006, Stone Energy entered into an Agreement and Plan of Merger with Plains Exploration and Production Company (PXP) and Plains Acquisition Corporation, a wholly owned subsidiary of PXP (Plains Acquisition).
625 East Kaliste Saloom Road
Lafayette, LA 70508
STONE ENERGY CORPORATION
Announces Update from MMS Moratorium
LAFAYETTE, LA. June 1, 2010
Stone Energy Corporation (NYSE: SGY) today announced that the Minerals Management Service issued
a Notice to Lessees ("NTL") on May 30, 2010 directing lessees and operators to cease drilling all new
deepwater wells on federal leases in the Gulf of Mexico for six months. For purposes of this six-month
deepwater moratorium ("NTL Moratorium"), "deepwater" means depths greater than 500 feet. This NTL
Moratorium will delay drilling of the second well (Vili) in Stone Energy's Amberjack drilling program.
Current production from the Amberjack platform remains unaffected and overall production guidance for
2010 remains in the original range of 205-225 million cubic feet equivalents per day. Drilling plans for
several conventional shelf wells and two deep shelf wells (one currently drilling) do not appear to be
impacted by the moratorium. Drilling operations in our Marcellus program and Rocky Mountain projects are
continuing as planned. Adjustments in the 2010 capital budget are being reviewed.
All Opinion expressed are just opinions, Please do your own Due Diligence and research.