Article: EPL Terminates Merger Agreement with Stone Energy.

EPL Board Authorizes Exploration of Strategic Alternatives to Maximize Stockholder Value

NEW ORLEANS -- Energy Partners, Ltd. ("EPL" or "the Company") (NYSE:EPL) today announced that EPL and Stone Energy Corporation ("Stone") (NYSE:SGY) have agreed to terminate their June 22, 2006 merger agreement.

EPL also announced that, as the Company is now free from the merger agreement with Stone, its Board of Directors has directed the Company, assisted by its financial advisors Evercore Group L.L.C., Banc of America Securities LLC, Petrie Parkman & Co, Inc., and UBS Securities LLC, to explore strategic alternatives to maximize stockholder value, including the ...

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