Edgar Filing: ST MARY LAND & EXPLORATION CO

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Hertzler Jerold M

2. Issuer Name and Ticker or Trading Symbol
ST MARY LAND & EXPLORATION CO [SM]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
VP- Business Development

(Last)

(First)

(Middle)

1776 LINCOLN ST., SUITE 700

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2008

(Street)

DENVER, CO 80203

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock; $.01 Par Value	06/24/2008		M		4,058	A	$ 12.03	14,333	D
Common Stock; $.01 Par Value	06/24/2008		M		3,634	A	$ 11.95	17,967	D
Common Stock; $.01 Par Value	06/24/2008		M		4,058	A	$ 7.965	22,025	D
Common Stock; $.01 Par Value	06/24/2008		M		3,634	A	$ 12.5	25,659	D
Common Stock; $.01 Par Value	06/24/2008		M		3,634	A	$ 12.525	29,293	D
Common Stock; $.01 Par Value	06/24/2008		M		3,632	A	$ 13.35	32,925	D
Common Stock; $.01 Par Value	06/24/2008		M		2,902	A	$ 12.66	35,827	D
Common Stock; $.01 Par Value	06/24/2008		M		544	A	$ 13.39	36,371	D
Common Stock; $.01 Par Value	06/24/2008		M		3,082	A	$ 14.25	39,453	D
Common Stock; $.01 Par Value	06/24/2008		S		29,178	D	$ 62.3618	10,275	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option(Right to Buy)

$ 12.03

06/24/2008

4,058

⁽¹⁾

06/30/2012

Common Stock

4,058

$ 0

Stock Option(Right to Buy)

$ 11.95

06/24/2008

3,634

⁽²⁾

09/30/2012

Common Stock

3,634

$ 0

Stock Option(Right to Buy)

$ 7.965

06/24/2008

4,058

⁽³⁾

09/30/2011

Common Stock

4,058

$ 0

Stock Option(Right to Buy)

$ 12.5

06/24/2008

3,634

⁽⁴⁾

12/31/2012

Common Stock

3,634

$ 0

Stock Option(Right to Buy)

$ 12.525

06/24/2008

3,634

⁽⁵⁾

03/31/2013

Common Stock

3,634

$ 0

Stock Option(Right to Buy)

$ 13.65

06/24/2008

3,632

⁽⁶⁾

06/30/2013

Common Stock

3,632

$ 0

Stock Option(Right to Buy)

$ 12.66

06/24/2008

2,902

⁽⁷⁾

09/30/2013

Common Stock

2,902

$ 0

Stock Option(Right to Buy)

$ 13.39

06/24/2008

544

⁽⁸⁾

10/22/2013

Common Stock

544

$ 0

Stock Option(Right to Buy)

$ 14.25

06/24/2008

3,082

⁽⁹⁾

12/31/2013

Common Stock

3,082

$ 0

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Hertzler Jerold M 1776 LINCOLN ST. SUITE 700 DENVER, CO 80203			VP- Business Development

Signatures

Karin M. Writer (Attorney-In-Fact)		06/26/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The total option vested as follows: 1,015 shares on June 30, 2002, 1,015 shares on September 30, 2002, 1,014 shares on September 30, 2003, and 1,014 shares on September 30, 2004
(2)	The total option grant vested as follows: 909 shares on September 30, 2002, 909 shares on September 30, 2003, 908 shares on September 30, 2004, and 908 shares on September 30, 2005.
(3)	The total option grant vested as follows: 1,015 shares on September 30, 2001, 1,015 shares on September 30, 2002, 1,014 shares on September 30, 2003, and 1,014 shares on September 30, 2004.
(4)	The total option grant vested as follows: 909 shares on December 31, 2002, 909 shares on September 30, 2003, 908 shares on September 30, 2004, and 908 shares on September 30, 2005.
(5)	The total option grant vested as follows: 909 shares on March 31, 2003, 909 shares on September 30, 2003, 908 shares on September 30, 2004, and 908 shares on September 30, 2005.
(6)	The total option grant vested as follows: 908 shares on June 30, 2003, 908 shares on September 30, 2003, 908 shares on September 30, 2004, and 908 shares on September 30, 2005.
(7)	The total option grant vested as follows: 726 shares on September 30, 2003, 726 shares on September 30, 2004, 725 shares on September 30, 2005, and 725 shares on September 30, 2006.
(8)	The total option grant vested as follows: 136 shares on October 22, 2003, 136 shares on September 30, 2004, 136 shares on September 30, 2005, and 136 shares on September 30, 2006.
(9)	The total option grant vested as follows: 496 shares on December 31, 2003, 862 shares on September 30, 2004, 862 shares on September 30, 2005, and 862 shares on September 30, 2006.

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