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EPL Oil & Gas, Inc. ("EPL"
or the "Company")
EPL announced today the pricing of its private
placement pursuant to Rule 144A and Regulation S under the Securities Act of
1933, as amended (the "Securities Act"), to eligible purchasers $300 million
in aggregate principal amount of 8.25% senior unsecured notes due 2018 (the
"Senior Notes"). The offering size represents an increase of $50 million over
the Company's previously announced intention to offer $250 million in
aggregate principal amount of its Senior Notes. The net proceeds from the
private placement of the Senior Notes, after deducting the initial purchasers'
discount and estimated offering expenses payable by EPL, are expected to be
approximately $288 million. The Senior Notes will be fully and unconditionally
guaranteed, jointly and severally, on an unsecured, senior basis, by all of
EPL's existing material subsidiaries. The closing of the offering of the
Senior Notes is expected to occur on or about October 25, 2012.
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