Voyager Oil & Gas Provides Operations Update

Voyager Oil & Gas, Inc. VOG is releasing an operations update. Highlights include: Second quarter 2012 average production of approximately 900 barrels of oil equivalent per day ("BOEPD"), a 40% increase over first quarter 2012, which was in-line with Company projections; 6.44 net (150 gross) wells producing from the Bakken or Three Forks as of June 30, 2012 with 1.41 net (32 gross) Bakken/Three Forks wells added to production during the second quarter 2012; and An additional 1.22 net (31 gross) wells being drilled or awaiting completion as of June 30, 2012. Production Update Voyager estimates second quarter 2012 average production was approximately 900 BOEPD, which represents a 40% increase above its first quarter 2012 average production of 625 BOEPD. Second quarter production was in-line with Company projections and accelerated as the quarter progressed. Voyager had 6.44 net (150 gross) Williston Basin wells producing from the Bakken and Three Forks formations at June 30, 2012. Drilling & Completions Update The Company added 1.41 net (32 gross) Bakken/Three Forks wells to production during the second quarter of 2012. An additional 1.22 net (31 gross) wells were being drilled or awaiting completion as of June 30, 2012 and are expected to be additive to production during the second half of 2012. Approximately 225 rigs are currently drilling in the Williston Basin with 210 to 215 rigs drilling in North Dakota and 10 to 15 rigs drilling in northeastern Montana. Voyager expects that the current level of drilling activity will continue and much of its acreage will be developed and converted into producing wells. Approximately 34% of Voyager's current acreage is held by production (HBP), either by producing wells or wells that are in the process of being drilled or awaiting completion.