Market Overview

Amelia Resources LLC Announces the Sale of 40,000 Net Acres in The Louisiana Austin Chalk and LAMS Stack Plays


Amelia Resources LLC announces the sale of 40,000 net acres in the
Louisiana Austin Chalk and LAMS Stack plays.

Amelia Resources announced today that it has sold 40,000 net acres of
newly acquired leases to an undisclosed U.S.-based buyer. The acreage
block is located in the core of the Louisiana-Mississippi (LAMS) Stack
Play on the eastern side of the Louisiana Austin Chalk trend.

Amelia's President, Kirk Barrell, said, "With consistent higher oil
prices, the stacking of the Austin Chalk and Tuscaloosa Marine Shale
(TMS) make for a very attractive target. Continued success in the Texas
Austin Chalk and comparable matrix porosity across Louisiana and
Mississippi present an excellent opportunity for expansion into a new
play. We are excited to bring another new player to the region."

Amelia's buyer focused where both the Austin Chalk and TMS have robust
reservoir characteristics. Barrell stated, "We already have some of the
best U.S. operators committed to the play in EOG, ConocoPhillips, and
Marathon. With their significant experience in the same
geologically-aged reservoirs in Texas, we have high hopes for the future
of this stack play."

With 28 years of experience across Central Louisiana and Mississippi,
Amelia Resources has evaluated over 1,800 wells in the Austin Chalk from
Mexico to Mississippi. Utilizing a diverse dataset of well logs,
petrophysics, geochemistry, seismic, and gravity, the company has
pursued the most geologically and economically attractive areas of the

The company plans to debut 394,000 additional acres this week at the
Summer NAPE in Houston, August 14-17, 2018.

Amelia Resources LLC is a privately held exploration and production
company. The company generates drilling prospects and is actively
engaged in several projects across the onshore Gulf Coast. The company
has closed $261 million of transactions in the TMS, Eagle Ford, Permian,
Austin Chalk, and Terryville Plays over the past six years. Amelia was
founded in 2003 by Kirk Barrell and has offices in New Orleans and St.
Francisville, Louisiana. The company leverages its 33 years of
geological and geophysical experience to obtain strategic positions in
drilling projects. Updates on the Austin Chalk and TMS projects are
provided by the company at:

CAUTIONARY STATEMENT: This press release contains certain
forward-looking statements regarding various oil and gas discoveries,
oil and gas exploration, development and production activities,
anticipated and potential production and flow rates and the economic
potential of properties. Accuracy of these forward-looking statements
depends on assumptions about events that change over time and is thus
susceptible to periodic change based on actual experience and new
developments. Amelia Resources LLC cautions readers that it assumes no
obligation to update or publicly release any revisions to the
forward-looking statements in this press release and, except to the
extent required by applicable law, does not intend to update or
otherwise revise these statements more frequently than quarterly.
Important factors that might cause future results to differ from these
forward-looking statements include adverse conditions such as high
temperature and pressure that could lead to mechanical failures or
increased costs, variations in the market prices of oil and natural gas,
drilling results, unanticipated fluctuations in flow rates of producing
wells, oil and natural gas reserves expectations, the ability to satisfy
future cash obligations and environmental costs, and other general
exploration and development risks and hazards.

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