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 ^*

WILKENING GARRY 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)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
VP-HR & Administration

(Last)

(First)

(Middle)

1776 LINCOLN ST., SUITE 700

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2008

(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	06/10/2008		M		19,320	A	$ 16.6563	28,861	D
Common Stock; $.01 Par Value	06/10/2008		M		3,926	A	$ 11.95	32,787	D
Common Stock; $.01 Par Value	06/10/2008		M		3,928	A	$ 12.5	36,715	D
Common Stock; $.01 Par Value	06/10/2008		M		3,926	A	$ 12.525	40,641	D
Common Stock; $.01 Par Value	06/10/2008		M		3,926	A	$ 13.65	44,567	D
Common Stock; $.01 Par Value	06/10/2008		M		3,528	A	$ 13.39	48,095	D
Common Stock; $.01 Par Value	06/10/2008		M		3,528	A	$ 14.25	51,623	D
Common Stock; $.01 Par Value	06/10/2008		S		42,082	D	$ 57.708	9,541	D
Common Stock; $.01 Par Value	06/10/2008		S		1,735	D	$ 57.67	7,806	D
Common Stock; $.01 Par Value	06/10/2008		S		4,500	D	$ 57.688	3,306	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)

$ 16.6563

06/10/2008

19,320

⁽¹⁾

12/31/2010

Common Stock

19,320

$ 0

Stock Option (Right to Buy)

$ 11.95

06/10/2008

3,926

⁽²⁾

09/30/2012

Common Stock

3,926

$ 0

Stock Option (Right to Buy)

$ 12.5

06/10/2008

3,928

⁽³⁾

12/31/2012

Common Stock

3,928

$ 0

Stock Option (Right to Buy)

$ 12.525

06/10/2008

3,926

⁽⁴⁾

03/31/2013

Common Stock

3,926

$ 0

Stock Option (Right to Buy)

$ 13.65

06/10/2008

3,926

⁽⁵⁾

06/30/2013

Common Stock

3,926

$ 0

Stock Option (Right to Buy)

$ 13.39

06/10/2008

3,528

⁽⁶⁾

10/22/2013

Common Stock

3,528

$ 0

Stock Option (Right to Buy)

$ 14.25

06/10/2008

3,528

⁽⁷⁾

12/31/2013

Common Stock

3,528

$ 0

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
WILKENING GARRY A 1776 LINCOLN ST. SUITE 700 DENVER, CO 80203			VP-HR & Administration

Signatures

Karin M. Writer (Attorney-In-Fact)		06/11/2008
^**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 option vested in four equal installments on December 31, 2000, 2001, 2002, and 2003.
(2)	The option vested in four equal installments on September 30, 2002, 2003, 2004, and 2005.
(3)	The total option grant vested as follows: 982 shares on December 31, 2002, 982 shares on September 30, 2003, 982 shares on September 30, 2004, and 982 shares on September 30, 2005.
(4)	The total option grant vested as follows: 982 shares on March 31, 2003, 982 shares on September 30, 2003, 982 shares on September 30, 2004, and 982 shares on September 30, 2005.
(5)	The total option grant vested as follows: 982 shares on June 30, 2003, 982 shares on September 30, 2003, 982 shares on September 30, 2004, and 982 shares on September 30, 2005.
(6)	The total option grant vested as follows: 882 shares on October 22, 2003, 882 shares on September 30, 2004, 882 shares on September 30, 2005, and 882 shares on September 30, 2006.
(7)	The total option grant vested as follows: 882 shares on December 31, 2003, 882 shares on September 30, 2004, 882 shares on September 30, 2005, and 882 shares on September 30, 2006.

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