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Talos energy Announces Acquisition of Certain Stone Energy GOM Shelf Assets

June 30, 2014 – Talos Energy LLC ("Talos”) today announced entering into a definitive agreement to buy certain Gulf of Mexico ("GOM”) conventional shelf properties from Stone Energy Corporation (NYSE: SGY) for $200 million in cash.  The effective date will be April 1, 2014, and the transaction is expected to close by early August, subject to customary closing conditions and adjustments.  These properties averaged 9,500 BOE per day of production during the first quarter of 2014 (42% oil/liquids).  Stone will retain an option for a 50% working interest in the deep drilling rights on the properties. 

President and Chief Executive Officer of Talos Energy, Tim Duncan stated, "This bolt-on transaction will add more diversity to our asset base and is a perfect fit for our regional seismic database in which we already have ongoing reprocessing efforts.  The deep joint venture on these assets creates a built in partner and we view this as a win-win transaction for both sides.”

TD Securities acted as the financial advisor and Vinson & Elkins LLP acted as legal adviser to Talos on the transaction.