Energy Hunter Resources Announces Flow Rate on the

Gap Band #2H Well in the Eagle Ford Shale of Karnes County, Texas

 

Irving, TX, January 10, 2018 — Energy Hunter Resources, Inc., an exploration and production company headquartered in Irving, Texas, announced today that the Gap Band #2H well located in Karnes County, Texas reached a peak 24-hour flow rate of 1,322 Boe per day from a 3,855 foot lateral drilled and completed in the Eagle Ford shale. The well is currently producing approximately 900 barrels of oil per day and 2,594 Mcf per day (approximately 68% liquids).

 

The Gap Band #2H well has been online since January 1, 2018 and is producing on a 18/64 choke. The Gap Band #2H 3,855 foot lateral was completed with 21 frac stages and placed approximately 2,990 pounds of sand per lateral foot.

 

Gary C. Evans, Chairman and Chief Executive Officer of Energy Hunter Resources said, “The Gap Band #2H is presently exceeding our initial type curve projections and is the first well of an ultimate seven well Eagle Ford drilling program. Our management team’s previous work experience in the Eagle Ford shale, combined with our strategic lease acreage position located in Karnes County, Texas, one of the top oil producing counties in the State of Texas by volume, all contributed to this initial success. We currently plan to drill two additional horizontal Eagle Ford wells and a minimum of two horizontal San Andres wells this calendar year.”


GAP BAND #2H WELL ~ 24-HOUR FLOW BACK TEST; 1,322 BOEPD

“Evans continued, “After nearly a three year downturn in the energy industry, we are finally starting to see our sector begin to recover and stabilize as commodity prices continue to improve. The combination of WTI oil now trading over $60 per barrel, our total drilling and completion costs for this first Eagle Ford shale well at $5.5 million, and utilizing our current estimated production curve, should generate an internal rate of return on this well exceeding 100%. We now plan to commence workover and drilling operations on our first San Andres property acquisition over the next few months. This 9,413 gross acreage position was acquired on December 4, 2017 and allows infill drilling of up to 45 new horizontal wells.”

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 current generation 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.

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