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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 noSNTqOsTDb2t11nnxkjHA==

<SEC-DOCUMENT>0000893538-07-000011.txt : 20070118
<SEC-HEADER>0000893538-07-000011.hdr.sgml : 20070118
<ACCEPTANCE-DATETIME>20070118114359
ACCESSION NUMBER:		0000893538-07-000011
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061231
FILED AS OF DATE:		20070118
DATE AS OF CHANGE:		20070118

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PHARO MILAM RANDOLPH
		CENTRAL INDEX KEY:			0001198293

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31539
		FILM NUMBER:		07536931

	MAIL ADDRESS:	
		STREET 1:		1776 LINCOLN ST
		STREET 2:		STE 700
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ST MARY LAND & EXPLORATION CO
		CENTRAL INDEX KEY:			0000893538
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				410518430
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1776 LINCOLN ST STE 700
		CITY:			DENVER
		STATE:			CO
		ZIP:			80203
		BUSINESS PHONE:		303-861-8140
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>pharo31december06form4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000893538</issuerCik>
        <issuerName>ST MARY LAND &amp; EXPLORATION CO</issuerName>
        <issuerTradingSymbol>SM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001198293</rptOwnerCik>
            <rptOwnerName>PHARO MILAM RANDOLPH</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1776 LINCOLN ST</rptOwnerStreet1>
            <rptOwnerStreet2>STE 700</rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP- Land and Legal</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock; $.01 Par Value</value>
            </securityTitle>
            <transactionDate>
                <value>2006-12-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>140</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>31.314</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14221</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Mr. Pharo purchased 140 shares of the issuer's common stock on December 31, 2006, through the issuer's Employee Stock
 Purchase Plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Karin M. Writer</signatureName>
        <signatureDate>2007-01-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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