St. Mary Declares Regular Cash Dividend, Schedules 1st Q 2001 Conference Call and Provides Operations Update

Apr 26, 2001, 01:00 ET from St. Mary Land & Exploration Company

    DENVER, April 26 /PRNewswire/ -- St. Mary Land & Exploration Company
 (Nasdaq:   MARY), an independent oil and gas concern, today announced that its
 Board of Directors has declared a semi-annual cash dividend of  5 cents per
 share.  The dividend will be paid May 21 to shareholders of record as of the
 close of business May 11, 2001.
     The payment of this semi-annual dividend extends a practice which has been
 to make dividend payments on a quarterly basis prior to this payment.  Company
 management currently plans to continue making semi-annual dividend payments at
 the rate of 5 cents per share for the foreseeable future.
     St. Mary will host a conference call on Thursday, May 10 at 8:00 a.m.
 (MST) to announce financial results for the first quarter 2001.
     Participants must dial 888-424-5231 to take part in the conference call.
 A replay of the conference call will be available 24 hours per day for five
 days at 800-642-1687, conference number 862538.  International participants
 can dial 706-634-6088 to take part in the conference call and access a replay
 of the call at 706-645-9291, conference number 862538.
     The conference call will also be broadcast live on the St. Mary web site
 at www.stmaryland.com.  Visitors to the site will be able to listen to a
 recording of the conference call on the web site for seven days following the
 conference call.
     The Parlange #12 well in the Judge Digby field has reached total depth at
 23,220 feet and has logged over 350 feet of  pay, including nearly 150 feet in
 the C-2, C-4 and C-5 zones which currently do not produce in the field.
 Initial production from the well is anticipated by mid-year 2001.  The Judge
 Digby field is currently producing approximately 200 MMCFED.
     Three wells have been drilled and completed in West Cameron Area South
 Addition Block 598 and a fourth well is to be completed by the end of April.
 Production from the three wells is currently over 30 MMCFED.  St. Mary's net
 production from the block is expected to exceed 5 MMCFED once all four wells
 are on line.
     Due to an inadvertent discrepancy in volumes internally reported for
 January and February attributable to a purchase price adjustment properly
 recorded in 2000 for a December 2000 acquisition, St. Mary now believes first
 quarter production will be approximately 13.2 BCFE, not in the previously
 announced 13.5-14.0 BCFE range.  The adjustment to production may also
 increase per unit operating costs for the first quarter. St. Mary's previously
 reported forecasts for year 2001 remain unchanged.  Revised forecasts for the
 first quarter are as follows:
 
      Production                                                   13.2 BCFE
      Lease operating expenses, including
       production taxes and transportation                    $.90-$.95/MCFE
      General & administrative expenses                       $.28-$.30/MCFE
      Depreciation, depletion & amortization                 $.80-.$.86/MCFE
 
      Current income taxes are expected to approximate 50% of total tax expense
 
     This release contains forward looking statements, including forecasts and
 projections for future periods.  These statements involve known and unknown
 risks, which may cause St. Mary's actual results to differ materially from
 results expressed or implied by the forward looking statements.  These risks
 include such factors as the volatility and level of oil and natural gas
 prices, production rates and reserve replacement, reserve estimates, drilling
 and operating risks, competition, litigation, environmental matters, the
 potential impact of government regulations, and other matters discussed under
 the "Risk Factors" section of  St. Mary's 2000 Annual Report on Form 10-K
 filed with the SEC.  Although St. Mary may from time to time voluntarily
 update its forward looking statements, it disclaims any commitment to do so
 except as required by securities laws.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X71373378
 
 

SOURCE St. Mary Land & Exploration Company
    DENVER, April 26 /PRNewswire/ -- St. Mary Land & Exploration Company
 (Nasdaq:   MARY), an independent oil and gas concern, today announced that its
 Board of Directors has declared a semi-annual cash dividend of  5 cents per
 share.  The dividend will be paid May 21 to shareholders of record as of the
 close of business May 11, 2001.
     The payment of this semi-annual dividend extends a practice which has been
 to make dividend payments on a quarterly basis prior to this payment.  Company
 management currently plans to continue making semi-annual dividend payments at
 the rate of 5 cents per share for the foreseeable future.
     St. Mary will host a conference call on Thursday, May 10 at 8:00 a.m.
 (MST) to announce financial results for the first quarter 2001.
     Participants must dial 888-424-5231 to take part in the conference call.
 A replay of the conference call will be available 24 hours per day for five
 days at 800-642-1687, conference number 862538.  International participants
 can dial 706-634-6088 to take part in the conference call and access a replay
 of the call at 706-645-9291, conference number 862538.
     The conference call will also be broadcast live on the St. Mary web site
 at www.stmaryland.com.  Visitors to the site will be able to listen to a
 recording of the conference call on the web site for seven days following the
 conference call.
     The Parlange #12 well in the Judge Digby field has reached total depth at
 23,220 feet and has logged over 350 feet of  pay, including nearly 150 feet in
 the C-2, C-4 and C-5 zones which currently do not produce in the field.
 Initial production from the well is anticipated by mid-year 2001.  The Judge
 Digby field is currently producing approximately 200 MMCFED.
     Three wells have been drilled and completed in West Cameron Area South
 Addition Block 598 and a fourth well is to be completed by the end of April.
 Production from the three wells is currently over 30 MMCFED.  St. Mary's net
 production from the block is expected to exceed 5 MMCFED once all four wells
 are on line.
     Due to an inadvertent discrepancy in volumes internally reported for
 January and February attributable to a purchase price adjustment properly
 recorded in 2000 for a December 2000 acquisition, St. Mary now believes first
 quarter production will be approximately 13.2 BCFE, not in the previously
 announced 13.5-14.0 BCFE range.  The adjustment to production may also
 increase per unit operating costs for the first quarter. St. Mary's previously
 reported forecasts for year 2001 remain unchanged.  Revised forecasts for the
 first quarter are as follows:
 
      Production                                                   13.2 BCFE
      Lease operating expenses, including
       production taxes and transportation                    $.90-$.95/MCFE
      General & administrative expenses                       $.28-$.30/MCFE
      Depreciation, depletion & amortization                 $.80-.$.86/MCFE
 
      Current income taxes are expected to approximate 50% of total tax expense
 
     This release contains forward looking statements, including forecasts and
 projections for future periods.  These statements involve known and unknown
 risks, which may cause St. Mary's actual results to differ materially from
 results expressed or implied by the forward looking statements.  These risks
 include such factors as the volatility and level of oil and natural gas
 prices, production rates and reserve replacement, reserve estimates, drilling
 and operating risks, competition, litigation, environmental matters, the
 potential impact of government regulations, and other matters discussed under
 the "Risk Factors" section of  St. Mary's 2000 Annual Report on Form 10-K
 filed with the SEC.  Although St. Mary may from time to time voluntarily
 update its forward looking statements, it disclaims any commitment to do so
 except as required by securities laws.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X71373378
 
 SOURCE  St. Mary Land & Exploration Company