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 8,000,000 Denbury Shares


News Release
Released at 7:30 AM CDT

     DALLAS - December 19, 2003 - Denbury  Resources Inc. (NYSE: DNR) ("Denbury"
or the  "Company")  today  announced the sale by affiliates of the Texas Pacific
Group  ("TPG"),  of 8.0 million  shares of Denbury  common stock they own, which
will reduce TPG's ownership of Denbury from approximately 32% to 17%. Closing is
expected to occur on or about December 24, 2003. Denbury will not receive any of
the proceeds  from the sale of Denbury  shares by TPG.  This  offering  will not
affect the number of Denbury shares issued and outstanding.

     CIBC World Markets Corp. will serve as underwriter  for the offering.  When
available,  copies of the prospectus supplement and accompanying  prospectus may
be obtained from CIBC World Markets Corp. at CIBC,  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 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