Quicksilver Announces 2011 10-K Will Be Delayed

Quicksilver Resources Inc.

announced today that due to the ongoing efforts to complete the 2011 integrated control and financial statement audit, the filing of Form 10-K for the year ended December 31, 2011 will be delayed beyond the Form 12b-25 extended due date of March 15, 2012. The company continues to work diligently with its auditors to complete the audit and expects to file its 2011 Form 10-K and issue its financial statements by the week of April 16, 2012. The company has also furnished selected unaudited 2011 financial information as part of this release which will also be furnished on a Form 8-K. Net income as reported today in our selected financial information is less than that reported in our press release of February 27, 2012. The difference is primarily attributable to the following non-cash items: an adjustment to deferred taxes related to the formation of the Fortune Creek Partnership, of which the possibility of such change was referenced on the company's February 27, 2012 conference call by Phil Cook, Quicksilver's CFO; and minor changes to DD&A and impairment. These adjustments had no impact on adjusted net income per share for the quarter and year ended December 31, 2011 as previously reported. The company is not presenting comparative 2010 financial information because management is evaluating a potential non-material, non-cash revision to the previously reported gain on sale of KGS, but which does not impact the timing of filing the Form 10-K.