Escalera Resources Co. Extends Letter Of Intent Agreement To Explore Feasibility Of Developing GTL Plant

Escalera Resources Co. today announced the extension of its initial letter agreement (the "Letter Agreement') with Wyoming GTL, LLC ("WYGTL") to jointly explore the feasibility of developing a gas-to-liquids ("GTL") plant to be located in Wyoming (the "GTL Plant"). This extension allows for Escalera and WYGTL to continue to perform the detailed engineering, operations, construction, supply and related due diligence required to reach a definitive agreement. The Letter Agreement will terminate on January 31, 2015 if a definitive agreement between Escalera and WYGTL has not been executed. Pursuant to the original agreement executed on May 30, 2014, none of the terms or conditions has changed. In the event a definitive agreement is not executed within the required period, WYGTL will reimburse the Company for any portion of the initial study capital previously funded to WYGTL.