Energy Hunter Resources Closes Midland Basin Mineral Rights Divestment

DALLAS, Nov. 16, 2017 /PRNewswire/ -- Energy Hunter Resources, Inc., an exploration and production company headquartered in Dallas, Texas (www.energyhunter.energy), announced today that it reached an agreement with an undisclosed purchaser to divest it's ownership interest in certain mineral rights located in Howard County, Texas.  The lower Sprayberry and Wolfcamp A were horizontal targets on these mineral rights.  Potential horizontal development also exists in the Wolfcamp B and Wolfcamp C benches.

Since acquiring these ownership rights late last year for approximately $300,000, a total of three wells have been drilled and completed on these mineral rights with additional wells currently in the permitting stage.

Under terms of the agreement, Energy Hunter Resources sold 100 percent of its ownership interest in the mineral rights outlined above for $750,000, with a November 1 2017 effective date.  This resulted in a 150 percent return on its investment in less than one year. 

Gary C. Evans, Chairman & CEO of Energy Hunter Resources, Inc., said, "The reason to acquire mineral rights in the Permian Basin was always a short-term focused decision designed to leverage our expertise in the sector and obtain a minor ownership position in a core area of the Permian Basin.  We watched the value of our mineral rights in the Permian Basin significantly increase as additional wells were drilled and completed on the properties.  The decision to sell these assets now will enable us to reinvest the proceeds in our new core region of the San Andres oil play located in the Permian Basin and provide additional working capital to the Company."

About Energy Hunter Resources, Inc.

Energy Hunter Resources, Inc. is an independent oil company headquartered in Dallas, Texas with a mission to own and operate properties within some of the most prolific resource plays in the United States. Initially focusing on the Eagle Ford Shale and Permian Basin, Energy Hunter's aim is to create substantial shareholder value through a balanced program of acquisitions and low-risk development and exploitation opportunities utilizing current generation horizontal drilling and fracture stimulation technology.

Forward-Looking Statements

This press release may include ''forward-looking statements.'' To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking.  Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' Although we believe that the expectations reflected in these forward-looking  statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures.  Forward-looking statements speak only as of the date of the document in which they are contained, and Energy Hunter does not undertake any duty to update any forward-looking statements except as may be required by law.

Legal Disclaimer

Energy Hunter Resources, Inc. has filed an offering statement on Form 1-A relating to its securities with the Securities and Exchange Commission but it has not yet become qualified. You may obtain a copy of the most recent version of the offering statement containing the preliminary offering circular with the following link: https://www.sec.gov/cgi-bin/browse-edgar?company=Energy+Hunter+Resources&owner=exclude&action=getcompany. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or 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 jurisdiction. No money or other consideration is being solicited at this time with respect to such an offering, and if sent in response to these materials for such an offering, it will not be accepted. No securities may be sold, and no offer to buy securities can be accepted and no part of the purchase price can be received for an offering under Regulation A, until an offering statement is qualified by the U.S. Securities and Exchange Commission, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. An indication of interest made by a prospective investor in a Regulation A offering is non-binding and involves no obligation or commitment of any kind.

SOURCE Energy Hunter Resources, Inc.