SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Zubieta Dennis A.

(Last)

(First)

(Middle)

1776 LINCOLN STREET

SUITE 700

(Street)

DENVER

80203

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/07/2008

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
VP-Engineering & Evaluation

5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	7,862	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right-To-Buy)	⁽¹⁾	12/31/2010	Common Stock	15,644	16.6563	D
Stock Option (Right-To-Buy)	⁽²⁾	09/30/2011	Common Stock	3,524	7.965	D
Stock Option (Right-To-Buy)	⁽³⁾	12/31/2011	Common Stock	3,524	10.595	D
Stock Option (Right-To-Buy)	⁽⁴⁾	03/31/2012	Common Stock	3,522	10.855	D
Stock Option (Right-To-Buy)	⁽⁵⁾	06/30/2012	Common Stock	3,522	12.03	D
Stock Option (Right-To-Buy)	⁽⁶⁾	09/30/2012	Common Stock	3,188	11.95	D
Stock Option (Right-To-Buy)	⁽⁷⁾	12/31/2012	Common Stock	3,188	12.5	D
Stock Option (Right-To-Buy)	⁽⁸⁾	03/31/2013	Common Stock	3,186	12.525	D
Stock Option (Right-To-Buy)	⁽⁹⁾	06/30/2013	Common Stock	786	13.65	D
Stock Option (Right-To-Buy)	⁽¹⁰⁾	06/30/2013	Common Stock	2,400	13.65	D
Stock Option (Right-To-Buy)	⁽¹¹⁾	09/30/2013	Common Stock	2,508	12.66	D
Stock Option (Right-To-Buy)	⁽¹²⁾	10/22/2013	Common Stock	470	13.39	D
Stock Option (Right-To-Buy)	⁽¹³⁾	12/31/2013	Common Stock	2,976	14.25	D
Restricted Stock Units	⁽¹⁵⁾	⁽¹⁵⁾	Common Stock	975	⁽¹⁴⁾	D
Restricted Stock Units	⁽¹⁶⁾	⁽¹⁶⁾	Common Stock	2,496	⁽¹⁴⁾	D
Restricted Stock Units	⁽¹⁷⁾	⁽¹⁷⁾	Common Stock	258	⁽¹⁴⁾	D
Restricted Stock Units	⁽¹⁸⁾	⁽¹⁸⁾	Common Stock	918	⁽¹⁴⁾	D

Explanation of Responses:

1. The option vests in four equal installments beginning December 31, 2000.

2. The option vests in four equal installments beginning September 30, 2001.

3. The option vests as follows: 881 shares on December 31, 2001, and the remainder in three subsequent equal annual installments beginning on September 30, 2002.

4. The option vests as follows: 881 shares on March 31, 2002, and the remainder in three subsequent equal annual installments beginning on September 30, 2002.

5. The option vests as follows: 881 shares on June 30, 2002, and the remainder in three subsequent equal annual installments beginning on September 30, 2002.

6. The option vests in four equal annual installments beginning on September 30, 2002.

7. The option vests as follows: 797 shares on December 31, 2002, and the remainder in three subsequent equal annual installments beginning on September 30, 2003.

8. The option vests as follows: 797 shares on March 31, 2003, and the remainder in three subsequent equal annual installments beginning on September 30, 2003.

9. The option vests as follows: 196 shares on June 30, 2003, and the remainder in three subsequent equal annual installments beginning on September 30, 2003.

10. The option vests as follows: 600 shares on June 30, 2003, and the remainder in three subsequent equal annual installments beginning on September 30, 2003.

11. The option vests in four equal annual installments beginning on September 30, 2003.

12. The option vests as follows: 118 shares on October 22, 2003, and the remainder in three subsequent equal annual installments beginning on September 30, 2004.

13. The option vests as follows: 744 shares on December 31, 2003, and the remainder in three subsequent equal annual installments beginning on September 30, 2004.

14. Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.

15. The restricted stock units vest in four equal annual installments beginning on February 28, 2008. The vested shares will be issued to the reporting person on the vesting dates, at which time all restrictions on the vested shares will lapse.

16. The restricted stock units vest in three equal annual installments beginning on December 15, 2008. The vested shares will be issued to the reporting person on the vesting dates, at which time all restrictions on the vested shares will lapse.

17. The restricted stock units vest in four equal annual installments beginning on February 28, 2007. The vested shares will be issued to the reporting person on the vesting dates, at which time all restrictions on the vested shares will lapse.

18. The restricted stock units vest in four equal annual installments beginning on February 28, 2006. The vested shares will be issued to the reporting person on the vesting dates, at which time all restrictions on the vested shares will lapse.

Remarks:

	Karin M. Writer (Attorney-In-Fact)	08/18/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.