New Source Energy Partners, L.P. Closes Over-Allotment Option

OKLAHOMA CITY--(BUSINESS WIRE)--

New Source Energy Partners L.P., a Delaware limited partnership NSLP (the “Partnership”), announced today that underwriters of its recently completed initial public offering have purchased an additional 250,000 common units at $20.00 per unit granted to them in the Underwriting Agreement dated February 7, 2013. New Source Energy Partners' initial public offering of 4,000,000 common units, representing limited partnership interests in New Source Energy Partners, closed on February 13, 2013.

Net proceeds received by the Partnership from the sale of the additional common units were approximately $4.65 million in the aggregate, after deducting underwriting discounts, commissions and expenses. The public now owns an approximate 54.8% limited partner interest in the Partnership.

Baird, Stifel Nicolaus Weisel, BMO Capital Markets and Oppenheimer & Co. acted as joint book-running managers for the offering. Janney Montgomery Scott, Stephens Inc. and Wunderlich Securities acted as co-managers for the offering. Copies of the prospectus related to the offering may be obtained from the underwriters as follows:

Robert W. Baird & Co. Incorporated Attention: Syndicate Department 777 East Wisconsin Avenue Milwaukee, WI 53202-5391 syndicate@rwbaird.com (800) 792-2413   BMO Capital Markets Corp. Attn: Equity Syndicate Department 3 Times Square, 27th Floor New York, NY 10036 bmoprospectus@bmo.com					Stifel, Nicolaus & Company, Incorporated Attn: Prospectus Department One South Street, 15th Floor Baltimore, MD 21202 syndprospectus@stifel.com (855) 300-7136   Oppenheimer & Co. Inc. Attn: Syndicate Department 85 Broad Street, 26th Floor New York, NY 10004 equityprospectus@opco.com (212) 667-8563

A registration statement relating to these securities has been filed with, and declared effective by, the SEC. The registration statement is available on the SEC's web site at http://www.sec.gov under the registrant's name, “New Source Energy Partners L.P.” This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

In addition an investor presentation is now available on the New Source Energy Partner's website at www.newsource.com in the Investors-Presentation section.

About New Source

New Source Energy Partners is an independent energy company focusing on delivery through streamlined operations and vertically integrated infrastructure. We are actively engaged in the development and production of our onshore oil and liquids-rich portfolio that extends across conventional resource reservoirs in east-central Oklahoma.

Forward-Looking Statements

This news release contains “forward-looking statements” which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially, including but not limited to the inability to complete the initial public offering. For a full discussion of these risks and uncertainties, please refer to the “Risk Factors” section of the Registration Statement on Form S-1 initially filed by the Partnership on December 31, 2012 and the information included in subsequent amendments and other filings. These forward-looking statements are based on and include our expectations as of the date hereof. Subsequent events and market developments could cause our expectations to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law.