EXHIBIT 99.1


                             DENBURY RESOURCES INC.
                             P R E S S R E L E A S E


         DENBURY RESOURCES INC. ANNOUNCES YEAR-LONG 200,000 SHARE STOCK
             REPURCHASE PROGRAM FOR ITS EMPLOYEE STOCK PURCHASE PLAN


News Release
Released at 7:30 AM CDT

DALLAS,  August 12, 2003 (BUSINESS WIRE) - Denbury  Resources Inc.  (NYSE:  DNR)
("Denbury"  or the  "Company")  announced  today  that  it has  adopted  a stock
repurchase  plan (the "Plan") that is consistent  with the  requirements of Rule
10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934.

The Plan allows the Company to  maintain an adequate  amount of stock  available
for purchase by Denbury's employees each fiscal quarter under Denbury's Employee
Stock  Purchase  Plan.  The Plan  authorizes  the purchase on the New York Stock
Exchange  of 50,000  shares of the  Company's  common  stock per fiscal  quarter
through an independent  securities  broker for a period of approximately  twelve
months,  for a total of 200,000 shares,  beginning August 13, 2003 and ending on
July 31, 2004.  Purchases  are to be made at prices and times  determined in the
discretion of the independent  broker;  however, no purchases may be made during
the last ten business days of the fiscal  quarter,  which is the pricing  period
for shares purchased by employees  pursuant to Denbury's Employee Stock Purchase
Plan.

Denbury Resources Inc.  (www.denbury.com)  is a growing  independent oil and gas
company. The Company is the largest oil and natural gas operator in Mississippi,
holds key operating  acreage onshore Louisiana and has a growing presence in the
offshore Gulf of Mexico areas.

For further information contact:

Gareth Roberts, President and CEO, 972-673-2000
Phil Rykhoek, Chief Financial Officer, 972-673-2000
www.denbury.com