Denbury Commences Offer for 8 1/4% Senior Subordinated Notes Due 2020

Denbury Commences Offer for 8 1/4% Senior Subordinated Notes Due 2020

PLANO, Texas, April 16, 2014 (GLOBE NEWSWIRE) -- Denbury Resources Inc.
(NYSE:DNR) ("Denbury" or the "Company") today announced that it has commenced
a cash tender offer to purchase any and all of its outstanding $996,273,000
aggregate principal amount of 8¼% senior subordinated notes due 2020 (the
"Notes"), on the terms and subject to the conditions set forth in the Offer to
Purchase and Consent Solicitation Statement, dated the date hereof (as it may
be amended or supplemented from time to time, the "Statement"), and in the
related Letter of Transmittal and Consent (as it may be amended or
supplemented from time to time, the "Letter of Transmittal"). The tender offer
is referred to herein as the "Offer." The Statement and Letter of Transmittal
are referred to herein collectively as the "Offer Documents."

In conjunction with the Offer, and on the terms and subject to the conditions
set forth in the Offer Documents, the Company is soliciting (the "Consent
Solicitation") consents ("Consents") of holders of the Notes to, among other
things, eliminate most of the restrictive covenants and certain events of
default contained in the indenture governing the Notes.Holders that tender
their Notes in the Offer will be considered to have validly delivered their
Consents to the proposed amendments to the indenture governing the Notes. 

The consent payment deadline is 5:00 p.m., New York City time, on April 29,
2014 (such time and date, as it may be extended, the "Consent Payment
Deadline"), and the tender offer will expire at 11:59 p.m., New York City
time, on May 13, 2014 (such time and date, as it may be extended, the
"Expiration Time"), in each case unless earlier terminated by the Company.
Notes tendered may be withdrawn and the related Consents revoked at any time
at or before 5:00 p.m., New York City time, on April 29, 2014 (such time and
date, as it may be extended, the "Withdrawal Deadline") but not thereafter.

The total consideration for each $1,000 principal amount of Notes purchased
pursuant to the Offer will be $1,101.58. The total consideration for the
Notes includes a consent payment of $30 per $1,000 principal amount of the
Notes payable only in respect of Notes tendered with Consents at or before the
Consent Payment Deadline.Holders validly tendering Notes after the Consent
Payment Deadline but at or before the Expiration Time will be eligible to
receive only the tender offer consideration of $1,071.58 per $1,000 principal
amount of the Notes. In addition, holders whose Notes are purchased in the
tender offer will receive accrued and unpaid interest in respect of their
purchased Notes from the last interest payment date to, but not including, the
applicable payment date for the Notes.Tenders of Notes will be accepted only
in principal amounts of $2,000 or integral multiples of $1,000 in excess
thereof.

The Company's obligation to accept for purchase and to pay for Notes validly
tendered and not withdrawn pursuant to the Offer is subject to the
satisfaction or waiver, in the Company's discretion, of certain conditions,
which are more fully described in the Statement, including, among others, the
Company's receipt of Consents from the holders of at least a majority in
principal amount of the outstanding Notes to the proposed amendments and the
Company's receipt of aggregate proceeds (before underwriters' discounts, fees
and other offer expenses) of at least $1.1 billion from an offering of new
senior subordinated notes, on terms satisfactory to the Company. The complete
terms and conditions of the Offer and the Consent Solicitation are set forth
in the Offer Documents, which are being sent to the holders of Notes. Holders
of Notes are urged to read the Offer Documents carefully.

The Company reserves the right, at any time following the Consent Payment
Deadline but prior to the Expiration Time (the "Early Acceptance Date"), to
accept for purchase all Notes validly tendered and not validly withdrawn
before the Early Acceptance Date.If Denbury elects to exercise this option,
Denbury will pay the Total Consideration for the Notes accepted for purchase
promptly following the acceptance of such Notes (the date of such payment
being the "Early Payment Date").Denbury expects that the Early Payment Date
will be April 30, 2014, subject to the satisfaction or waiver of all the
conditions of the Offer and the Consent Solicitation.

Denbury has retained Wells Fargo Securities to serve as the Dealer Manager and
Solicitation Agent in connection with the Offer and the Consent Solicitation.
Any questions regarding the terms of the Offer and the Consent Solicitation
may be directed to Wells Fargo Securities at (866) 309-6316 (toll free) or
(704) 410-4760 (collect). Any questions regarding procedures for tendering
Notes and delivering Consents or any request for additional copies of the
Offer Documents should be directed to MacKenzie Partners, Inc., the
Information Agent for the Offer, at (800) 322-2885 (toll free), (212) 929-5500
(collect), or tenderoffer@mackenziepartners.com.

The Offer and the Consent Solicitation are being made solely by means of the
Offer Documents. Under no circumstances shall this news release constitute an
offer to purchase or the solicitation of an offer to sell the Notes or any
other securities of the Company or of any other person, nor shall there be any
offer or sale of any Notes or other securities in any state or jurisdiction in
which such an offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. This news release also is not a solicitation of Consents to the
proposed amendments to the indenture and the Notes. No recommendation is made
as to whether holders of the Notes should tender their Notes or give their
Consents.

Denbury is a growing, dividend-paying, domestic oil and natural gas
company.The Company's primary focus is on enhanced oil recovery utilizing
carbon dioxide, and its operations are focused in two key operating areas:
the Gulf Coast and Rocky Mountain regions.The Company's goal is to increase
the value of acquired properties through a combination of exploitation,
drilling and proven engineering extraction practices, with the most
significant emphasis relating to tertiary recovery operations.

This news release, other than historical financial information, contains
forward-looking statements that involve risks and uncertainties including
risks and uncertainties detailed in Denbury's filings with the Securities and
Exchange Commission, including Denbury's most recent report on Form 10-K.
These risks and uncertainties are incorporated by this reference as though
fully set forth herein. These statements are based on engineering, geological,
financial and operating 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 Denbury's goals and performance
objectives can or will be realized. Actual results may vary materially. In
addition, any forward-looking statements represent Denbury's estimates only as
of today and should not be relied upon as representing its estimates as of any
future date. Denbury assumes no obligation to update its forward-looking
statements.

CONTACT: DENBURY CONTACTS:
         Phil Rykhoek, President and CEO, 972.673.2000
         Mark Allen, Senior Vice President and CFO, 972.673.2000
         Jack Collins, Executive Director,
         Finance and Investor Relations, 972.673.2028
        
         INFORMATION AGENT CONTACT:
         MacKenzie Partners, Inc.
         Jeanne Carr, 212-929-5500
         Toll Free: 800-322-2885
         tenderoffer@mackenziepartners.com

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