Energy Hunter Resources Agrees To Acquire Permian Basin Mineral Rights

DALLAS, September 28, 2016 — Energy Hunter Resources, Inc., an oil-focused energy company headquartered in Dallas, Texas, today announced that it has entered into an agreement to acquire mineral rights under approximately 320 gross acres located in Howard County, Texas. Energy Hunter estimates that a total of nine wells can be drilled on this acreage position and an active drilling program is currently underway. The Lower Spraberry and Wolfcamp A are horizontal targets in the offset wells. Potential horizontal development exists in the Wolfcamp B and Wolfcamp C benches as well. A sixty day due diligence period to confirm title is currently in process and the transaction is anticipated to close within that time period.

 

Gary C. Evans, Chairman and Chief Executive Officer of Energy Hunter Resources said, “The pending mineral rights acquisition located in the core of the Midland Basin signals our continued commitment toward unlocking value in one of the most economic plays in North America.    As of September 23, 2016, there were a total of 168 horizontal drilling rigs running in the Permian Basin of West Texas, up 211 percent from a low of 53 drilling rigs operating in April 2016.  This continued recovery during a depressed commodity priced environment represents the fastest recovery of any U.S. resource play as an increasing number of E&P operators allocate capital toward regions that can generate superior economic returns.”

 

Evans continued, “Acquiring mineral rights located in strategic operating regions such as the Midland Basin complements our disciplined growth strategy as the investment in mineral rights provides an opportunity for positive cash flow without increasing future capital expenditures or suffering any operating cost burdens.”

About Energy Hunter Resources, Inc.

Energy Hunter Resources, Inc. is an independent oil company headquartered in Dallas, Texas with a mission to own and operate properties within some of the most prolific resource plays in the United States. Initially focusing on the Eagle Ford Shale and Permian Basin, Energy Hunter’s aim is to create substantial shareholder value through a balanced program of acquisitions and low-risk development and exploitation opportunities utilizing horizontal drilling and fracture stimulation technology.

 

Forward-Looking Statements

This press release may include ‘‘forward-looking statements.’’ To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking.  Such forward-looking statements can be identified by the use of words such as ‘‘should,’’ ‘‘may,’’ ‘‘intends,’’ ‘‘anticipates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘projects,’’ ‘‘forecasts,’’ ‘‘expects,’’ ‘‘plans,’’ and ‘‘proposes.’’ Although we believe that the expectations reflected in these forward-looking  statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures.  Forward-looking statements speak only as of the date of the document in which they are contained, and Energy Hunter does not undertake any duty to update any forward-looking statements except as may be required by law.

 

Legal Disclaimer

Energy Hunter has filed an offering statement on Form 1-A relating to its securities with the Securities and Exchange Commission but it has not yet become qualified. You may obtain a copy of the most recent version of the offering statement containing the preliminary offering circular with the following link: https://www.sec.gov/Archives/edgar/data/1679073/000156761916003100/0001567619-16-003100-index.htm. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No money or other consideration is being solicited at this time with respect to such an offering, and if sent in response to these materials for such an offering, it will not be accepted. No securities may be sold, and no offer to buy securities can be accepted and no part of the purchase price can be received for an offering under Regulation A, until an offering statement is qualified by the U. S. Securities and Exchange Commission, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. An indication of interest made by a prospective investor in a Regulation A offering is non-binding and involves no obligation or commitment of any kind.

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