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Stone Energy Prices $275 Million Notes Offering

January 14, 2010 (FinancialWire) — Stone Energy Corp. (NYSE: SGY) said it has priced an offering of $275 million aggregate principal amount of senior notes due 2017.

Banc of America Securities 9NYSE: BAC) and J.P. Morgan Securities (NYSE: JPM) are acting as joint book-running managers.

The senior notes will bear interest at a rate of 8.625% per annum and will be issued at a price equal to 98.713% of the principal amount thereof, resulting in a yield to maturity of 8.875%.

Stone plans to use the net proceeds from the offering to fund its pending tender offer and consent solicitation for its existing 8 1/4% senior subordinated notes due 2011 and for general corporate purposes. Stone expects to close the sale of the senior notes on January 26, 2010, subject to the satisfaction of customary closing conditions.

Louisiana-based Stone Energy is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties located primarily in the Gulf of Mexico. Stone is also active in the Appalachia region.

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