904080--2/28/2007--STONE_ENERGY

related topics

{gas, price, oil}

{acquisition, growth, future}

{operation, natural, condition}

{competitive, industry, competition}

{debt, indebtedness, cash}

{cost, regulation, environmental}

{loss, insurance, financial}

{personnel, key, retain}

We may not be able to fund our planned capital expenditures. Our debt level and the covenants in the agreements governing our debt could negatively impact our financial condition, results of operations and business prospects. We have experienced significant shut-ins and losses of production in 2004, 2005 and 2006 due to the effects of hurricanes in the Gulf of Mexico The marketability of our production depends mostly upon the availability, proximity and capacity of oil and natural gas gathering systems, pipelines and processing facilities. We may not receive payment for a portion of our future production. Lower oil and gas prices and other factors may cause us to record ceiling test write-downs. We may not be able to obtain adequate financing to execute our operating strategy. There are uncertainties in successfully integrating our acquisitions. Our operations are subject to numerous risks of oil and gas drilling and production activities. Our industry experiences numerous operating risks. Terrorist attacks aimed at our facilities could adversely affect our business. Competition within our industry may adversely affect our operations. Our oil and gas operations are subject to various U.S. federal, state and local governmental regulations that materially affect our operations. The loss of key personnel could adversely affect our ability to operate. Hedging transactions may limit our potential gains or become ineffective.

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904080--2/28/2007--STONE_ENERGY_CORP