EXHIBIT 15


Denbury Resources Inc.:

We have made a review, in accordance with standards  established by the American
Institute of Certified Public  Accountants,  of the unaudited  interim financial
information  of Denbury  Resources  Inc.  (the  "Company")  for the  three-month
periods  ended March 31, 2003 and 2002, as indicated in our report dated May 13,
2003;  because we did not  perform  an audit,  we  expressed  no opinion on that
information.

We are aware  that our  report  referred  to above,  which was  included  in the
Company's Quarterly Report on Form 10- Q for the quarter ended March 31, 2003 is
incorporated by reference in this Registration Statement.

We also are aware that the aforementioned report,  pursuant to Rule 436(c) under
the  Securities  Act of  1933,  is not  considered  a part  of the  Registration
Statement prepared or certified by an accountant or report prepared or certified
by an accountant within the meaning of Sections 7 and 11 of that Act.

/s/ Deloitte & Touche LLP

Dallas, Texas
June 18, 2003






                                    EX 15-1