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 *
HANLEY ROBERT T
  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)
Vice President
(Last)
(First)
(Middle)
1776 LINCOLN ST, STE 700
3. Date of Earliest Transaction (Month/Day/Year)
04/17/2006
(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)
Code V Amount (A) or (D) Price
Common Stock; $.01 Par Value 04/17/2006   M   24,592 A $ 6.1875 154,611 D  
Common Stock; $.01 Par Value 04/17/2006   M   5,408 A $ 16.6563 160,019 D  
Common Stock; $.01 Par Value 04/17/2006   S(1)   30,000 D $ 43 130,019 D  
Common Stock; $.01 Par Value 04/18/2006   M   16,818 A $ 16.6563 146,837 D  
Common Stock; $.01 Par Value 04/18/2006   M   5,036 A $ 7.965 151,873 D  
Common Stock; $.01 Par Value 04/18/2006   M   5,036 A $ 10.595 156,909 D  
Common Stock; $.01 Par Value 04/18/2006   M   3,110 A $ 10.855 160,019 D  
Common Stock; $.01 Par Value 04/18/2006   S(1)   30,000 D $ 44 130,019 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 6.1875 04/17/2006   M     24,592   (2) 12/31/2009 Common Stock 24,592 $ 0 0 D  
Stock Option (Right to Buy) $ 16.6563 04/17/2006   M     5,408   (3) 12/31/2010 Common Stock 5,408 $ 0 5,592 D  
Stock Option (Right to Buy) $ 16.6563 04/18/2006   M     16,818   (3) 12/31/2010 Common Stock 16,818 $ 0 0 D  
Stock Option (Right to Buy) $ 7.965 04/18/2006   M     5,036   (4) 09/30/2011 Common Stock 5,036 $ 0 0 D  
Stock Option (Right to Buy) $ 10.595 04/18/2006   M     5,036   (5) 12/31/2011 Common Stock 5,036 $ 0 0 D  
Stock Option (Right to Buy) $ 10.855 04/18/2006   M     3,110   (6) 03/31/2012 Common Stock 3,110 $ 0 1,926 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HANLEY ROBERT T
1776 LINCOLN ST
STE 700
DENVER, CO 80203
      Vice President  

Signatures

 /s/ Karin M. Writer (Attorney-in-Fact)   04/19/2006
**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 sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Hanley on February 3, 2006.
(2) The option vested in four equal installments on December 31, 1999, 2000, 2001 and 2002.
(3) The option vested in four equal installments on December 31, 2000, 2001, 2002 and 2003.
(4) The option vested in four equal installments on September 30, 2001, 2002, 2003 and 2004.
(5) The option vested in four equal installments on December 31, 2001, 2002, 2003 and 2004.
(6) The option vested in four equal installments on March 31, 2002, 2003, 2004 and 2005.

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