Miller Energy Resources Prices Offering of Its Series C Preferred Stock at $23.00 per Share

Miller Energy Resources (NYSE: MILL) announced today that it has priced an underwritten public offering of its 10.75% Series C Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share) (the “Series C Preferred Stock”) at a public offering price of $23.00 per share. Gross proceeds to the Company are expected to be approximately $15.755 million. Closing of the offering is scheduled for October 5, 2012, subject to customary closing conditions. The Company intends to use the net proceeds, if any, from the offering for general corporate purposes. The Company is filing an application to list the Series C Preferred Stock on the New York Stock Exchange under the symbol “MILLprC.” MLV & Co. and Maxim Group LLC are acting as Joint Book-Running Managers for the offering. Williams Financial Group and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB:NHLD), are acting as Co-Managers. The offering is being made pursuant to the Company's existing effective shelf registration statement, previously filed with the Securities and Exchange Commission (“SEC”). A final prospectus supplement relating to the offering will be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other 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 other jurisdiction.