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 *
HELLERSTEIN MARK A
   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)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, CEO, & Chairman
(Last)
(First)
(Middle)
1776 LINCOLN ST, STE 700		 3. Date of Earliest Transaction (Month/Day/Year)
05/10/2006
(Street)

DENVER, CO 80203		 4. If Amendment, Date Original Filed(Month/Day/Year)
05/12/2006		 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 05/10/2006   M   0 (1) A $ 6.2188 (1) 91,469 D  
Common Stock; $.01 Par Value 05/10/2006   M   0 (1) A $ 8.75 (1) 91,469 D  
Common Stock; $.01 Par Value 05/10/2006   M   0 (1) A $ 4.625 (1) 91,469 D  
Common Stock; $.01 Par Value 05/10/2006   M   0 (1) A $ 6.1875 (1) 91,469 D  
Common Stock; $.01 Par Value 05/10/2006   M   0 (1) A $ 16.6563 (1) 91,469 D  
Common Stock; $.01 Par Value 05/11/2006   M   0 (1) A $ 16.6563 (1) 91,469 D  
Common Stock; $.01 Par Value 05/11/2006   M   0 (1) A $ 7.965 (1) 91,469 D  
Common Stock; $.01 Par Value 05/11/2006   M   0 (1) A $ 10.595 (1) 91,469 D  
Common Stock; $.01 Par Value 05/11/2006   M   0 (1) A $ 10.855 (1) 91,469 D  
Common Stock; $.01 Par Value 05/11/2006   M   0 (1) A $ 11.58 (1) 91,469 D  
Common Stock; $.01 Par Value 05/10/2006   M   22,630 A $ 11.95 114,099 D  
Common Stock; $.01 Par Value 05/10/2006   M   21,764 A $ 12.03 135,863 D  
Common Stock; $.01 Par Value 05/10/2006   M   34,976 A $ 11.58 170,839 D  
Common Stock; $.01 Par Value 05/10/2006   M   20,630 A $ 11.58 191,469 D  
Common Stock; $.01 Par Value 05/10/2006   M   60,000 A $ 11.58 251,469 D  
Common Stock; $.01 Par Value 05/11/2006   M   140,000 A $ 11.58 391,469 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) $ 6.2188 05/10/2006   M     0 (1)   (2) 12/31/2006 Common Stock 0 $ 0 18,292 D  
Stock Option (Right-to-Buy) $ 8.75 05/10/2006   M     0 (1)   (3) 12/31/2007 Common Stock 0 $ 0 15,568 (1) D  
Stock Option (Right-to-Buy) $ 4.625 05/10/2006   M     0 (1)   (4) 12/31/2008 Common Stock 0 $ 0 32,490 (1) D  
Stock Option (Right-to-Buy) $ 6.1875 05/10/2006   M     0 (1)   (5) 12/31/2009 Common Stock 0 $ 0 53,748 (1) D  
Stock Option (Right-to-Buy) $ 16.6563 05/10/2006   M     0 (1)   (6) 12/31/2010 Common Stock 0 $ 0 49,582 (1) D  
Stock Option (Right-to-Buy) $ 16.6563 05/11/2006   M     0 (1)   (6) 12/31/2010 Common Stock 0 $ 0 49,582 (1) D  
Stock Option (Right-to-Buy) $ 7.965 05/11/2006   M     0 (1)   (7) 09/30/2011 Common Stock 0 $ 0 21,766 (1) D  
Stock Option (Right-to-Buy) $ 10.595 05/11/2006   M     0 (1)   (8) 12/31/2011 Common Stock 0 $ 0 21,766 (1) D  
Stock Option (Right-to-Buy) $ 10.855 05/11/2006   M     0 (1)   (9) 03/31/2012 Common Stock 0 $ 0 21,764 (1) D  
Stock Option (Right-to-Buy) $ 11.58 05/11/2006   M     0 (1)   (10) 06/01/2012 Common Stock 0 $ 0 250,000 (1) D  
Stock Option (Right-to-Buy) $ 11.95 05/10/2006   M     22,630   (11) 09/30/2012 Common Stock 22,630 $ 0 0 D  
Stock Option (Right-to-Buy) $ 12.03 05/10/2006   M     21,764   (12) 06/30/2012 Common Shares 21,764 $ 0 0 D  
Stock Option (Right-to-Buy) $ 11.58 05/10/2006   M     34,976   (10) 06/01/2012 Common Stock 34,976 $ 0 215,024 D  
Stock Option (Right-to-Buy) $ 12.5 05/10/2006   M     20,630   (13) 12/31/2012 Common Stock 20,630 $ 0 0 D  
Stock Option (Right-to-Buy) $ 11.58 05/10/2006   M     60,000   (10) 06/01/2012 Common Stock 60,000 $ 0 155,024 D  
Stock Option (Right-to-Buy) $ 11.58 05/11/2006   M     140,000   (10) 06/01/2012 Common Stock 140,000 $ 0 15,024 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HELLERSTEIN MARK A
1776 LINCOLN ST
STE 700
DENVER, CO 80203		   X     President, CEO, & Chairman  

Signatures

 /s/ Karin M. Writer (Attorney-in-Fact)   05/16/2006
**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) On May 12, 2006, the reporting person filed a Form 4 reporting the exercise of stock options that contained incorrect information as to the stock options owned by the reporting person that were actually exercised. The purpose of this amendment is to correct the information as to the stock options that were not exercised and set forth the information as to the stock options that were in fact exercised by the reporting person. The information regarding sales of common stock by the reporting person pursuant to a Rule 10b5-1 plan as set forth in the original Form 4 remains unchanged by this amendment.
(2) The option vested on December 31, 1996.
(3) The option vested on December 31, 1997.
(4) The option vested as follows: 8,332 shares on January 1, 2000, 14,976 shares on December 31, 2000 and 9,182 shares on December 31, 2001.
(5) The option vested in four equal installments on December 31, 1999, 2000, 2001, and 2002.
(6) The option vested in four equal installments on December 31, 2000, 2001, 2002, and 2003.
(7) The option vested in four equal installments on September 31, 2001, 2002, 2003, and 2004.
(8) The option vested in four equal installments on December 31, 2001, 2002, 2003, and 2004.
(9) The option vested in four equal installments on March 31, 2002, 2003, 2004, and 2005.
(10) The total option grant vests as follows: 50, 000 shares on June 1, 2002, 50,000 shares on June 1, 2003, 75,000 shares on June 1, 2004, 75,000 shares on June 1, 2005, 125,000 shares on June 1, 2006, and 125,000 shares on June 1, 2007.
(11) The option vested in four equal installments on January 30, 2002, 2003, 2004, and 2005.
(12) The option vested in four equal installments on June 30, 2002, 2003, 2004, and 2005.
(13) The option vested in four equal installments on September 30, 2002, 2003, 2004, and 2005.

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