EXHIBIT 99.1



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

                           Denbury Resources Announces
                           Texas Pacific Group Sale of
                            9,274,314 Denbury Shares


News Release
Released at 7:30 AM CDT

     DALLAS - March 23, 2004 - Denbury  Resources Inc. (NYSE: DNR) ("Denbury" or
the "Company") today announced the sale by affiliates of the Texas Pacific Group
("TPG"),  of approximately  9.3 million shares of Denbury common stock,  selling
the balance of the Denbury shares that they own. Prior to this transaction, they
owned  approximately 17% of the Company's  outstanding common stock.  Closing is
expected to occur on or about March 26,  2004.  Denbury  will not receive any of
the  proceeds  from the sale of  Denbury  shares  by TPG and this  sale does not
affect the number of Denbury shares issued and outstanding.

     Lehman  Brothers Inc.  will serve as  underwriter  for the  offering.  When
available,  copies of the prospectus supplement and accompanying  prospectus may
be obtained  from Lehman  Brothers  Inc. at Lehman  Brothers,  c/o ADP Financial
Services,  Integrated Distribution Services, 1155 Long Island Avenue,  Edgewood,
NY 11717.

     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 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