Saratoga Resources, Inc. Announces Addition of Dr. Fred Aminzadeh and David Wilde as Key Advisors and Members of Advisory Board

HOUSTON & NEW ORLEANS--(BUSINESS WIRE)--Saratoga Resources, Inc. (OTCBB: SROE) (“Company”) today announced that it has strengthened its team with the engagement of Dr. Fred Aminzadeh and David Wilde as key consultants to the company and members of the company’s advisory board.

Dr. Aminzadeh is a world renowned geophysicist and brings to Saratoga advanced technological capabilities in geophysics and will assist the company in, among other things, evaluating the application of specific technologies to evaluate its deep gas objectives and developing technical studies to enhance existing exploration and production activities.

Dr. Aminzadeh is research professor at the University of Southern California’s Center for Integrated Smart Oil Fields (CiSoft) and is associated with USC Energy Institute. Before Joining USC, he served as President and CEO of dGB Earth Sciences USA, a leading seismic services and software company, worked in various technical and management positions with Unocal for 17 years and held a number of full time and part time academic positions, including serving as an adjunct professor in the Geosciences Department at Rice University. Dr. Aminzadeh holds a Ph. D. from University of Southern California. He is a member of, and has served in, numerous industry and professional organizations, including service as President of Society of Exploration Geophysicists, Fellow of the IEEE, Chairman of SEG Research Committee, Chairman of the advisory board of Western Standard Energy Corp. and a member of DOE’s Unconventional Resources Technology Advisory Committee, the Russian Academy of Science, the Azerbaijan Oil Academy, and the National Research Council’s Committee on Seismology. Dr. Aminzadeh holds three patents and is extensively published in diverse areas including eleven books on areas such as Reservoir Characterization, Petroleum Geology of South Caspian Basin, 3-D Seismic Modeling Advances in Seismic Data Processing, Geophysics for Engineers, and Petroleum Industry Applications of Pattern Recognition and Soft Computing.

David Wilde is a seasoned oil and gas industry veteran with more than 20 years of broad experience in capital market transactions, asset acquisitions and divestitures, corporate development, strategic planning and other financial functions, and will assist Saratoga in enhancing the company’s market position, optimizing financial structures to support accelerated development of existing reserves, establishing key industry partnerships to accelerate drilling of deep gas prospects and identifying and negotiating strategic acquisition opportunities.

Since 2008, Mr. Wilde has been President and CFO of Terramar Resources, Inc. and Managing Member of Terramar Partners, LLC. Mr. Wilde co-founded and became a director of Millennium Offshore Group in 2000 where he participated in the successful development and execution of an acquire and exploit strategy. Mr. Wilde assumed the positions of President and CFO of Millennium Offshore Group in 2005 where he led a restructuring that included a $25 million capital infusion, a 40% reduction in operating costs while managing a $60 million drilling budget and the ultimate divestiture of its assets. From 1995 to 2005, Mr. Wilde served as Director of Corporate Development of KCS Energy, Inc. Mr. Wilde’s previous industry experience includes successful stints with Union Texas Petroleum and Plains Resources. Mr. Wilde holds a B.A. in Management Sciences from Duke University and an M.B.A. in Finance and Management from the University of Texas.

Regarding the addition of Dr. Aminzadeh, Andrew Clifford, President of Saratoga, said, “We are excited that a preeminent geophysicist with the advanced technical knowledge of Dr. Aminzadeh has agreed to join our team. Dr. Aminzadeh has an established reputation as one of the most respected members of the energy industry and his services are in great demand. We believe that Dr. Aminzadeh’s agreement to work with Saratoga will enhance our efforts to optimize our exploration and production results and exploit our deep gas objectives and are excited that our assets have attracted his expertise.”

Thomas F. Cooke, Chairman and CEO of Saratoga, speaking with respect to David Wilde, said “David is a great addition to our team, bringing broad industry experience and expertise in business development, finance and strategic initiatives. David has an intimate knowledge of oil and gas finance and financial markets, resource acquisition, divestiture and partnering opportunities and market strategies. We believe David will serve a critical role in our efforts to accelerate development our existing reserves and exploit our deep gas objectives through financial market transactions, industry partnering opportunities and other strategic transactions.”

About Saratoga Resources

Saratoga is an independent exploration and production company with offices in Houston, Texas and Covington, Louisiana. Principal holdings cover 33,625 gross (32,527 net) acres, mostly held-by-production, located in the transitional coastline and protected in-bay environment on parish and state leases of south Louisiana. Saratoga's stock currently trades on the OTC Bulletin Board under the symbol "SROE".

Forward-looking Statements

This press release includes certain estimates and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Words such as "expects”, "anticipates", "intends", "plans", "believes", "assumes", "seeks", "estimates", "should", and variations of these words and similar expressions, are intended to identify these forward-looking statements. While we believe these statements are accurate, forward-looking statements are inherently uncertain and we cannot assure you that these expectations will occur and our actual results may be significantly different. These statements by the Company and its management are based on estimates, projections, beliefs and assumptions of management and are not guarantees of future performance. Important factors that could cause actual results to differ from those in the forward-looking statements include the factors described in the "Risk Factors" section of the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligation to update or revise any forward-looking statement based on the occurrence of future events, the receipt of new information, or otherwise.