COMPANY OVERVIEW

There is a saying in Texas about being "All hat, no cattle". In the world's most regulated industry, what matters more than what you say, is what you do. At Denbury, our people are our most important resource — because it is people that adapt to the changing oil and natural gas environment and make the Company what it is today.

Our Corporate Responsibility report is more than a catalogue of what we do and how we do it. The report represents who we are and what we expect of one another as productive members of an organization. This report may be a first for our Company, but Denbury's values and commitment to how we do business has been the same for many years. Over time, we have evolved into one of the leading carbon dioxide (CO₂) tertiary enhanced oil recovery (EOR) companies. What we have learned from our experiences in producing new reserves of American oil from old and depleted oil fields throughout the southern U.S. has been significant. Utilizing advanced technology, engineering ingenuity and geo-science to produce oil through the injection of CO₂ is being recognized today as one of the best opportunities to make carbon capture and sequestration (CCS) a reality in the near term. Today, Denbury is providing government policy makers, the academic and scientific communities, and national environmental advocates a greater understanding of the potential America's old oil fields have for CCS of industrial CO₂. Our objective is to grow our business by expanding our use of CO₂, a significant portion of which we anticipate will be man-made. By doing so, this will allow us to produce additional volumes of domestic oil, contributing to greater American energy independence. Executing our business plan, while maintaining the highest level of environmental stewardship, is our long-held policy and our goal.

This report is a snapshot of Denbury's objectives and achievements, and about how we are striving to improve in the areas of environmental stewardship, health and safety each and every year. We are committed to being good corporate citizens and recognize the important responsibility we have to our employees, shareholders, the environment and the communities in which we operate. We hope as you read our report you will see the character of the employees who are Denbury.

As Trace Adkins put it best, "All hat and no cattle ain't gonna get it done."

We are committed to being good corporate citizens
and recognize the important responsibility we have
to our employees, shareholders, the environment
and the communities in which we operate.

Corporate Responsibility Report

December 2009

Download Denbury Resources 2009 Corporate Responsibility Report