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EXHIBIT 99.1
Synergy Resources Corporation Mid-Year Proved Reserves Increase 43%
PLATTEVILLE, CO -- (Marketwired) -- 04/24/14 -- Synergy Resources Corporation
(NYSE MKT: SYRG), a U.S. oil and gas exploration and production company focused
in the Denver-Julesburg Basin, announces that its mid-year proved reserve
evaluation for the six months ending 2/28/2014 increased to 19.7mm/BOE compared
to 13.8mm/BOE for the fiscal year end 8/31/2013 and the PV10 value of the proved
reserves increased to $326 million from $236 million. Proved developed producing
and proved developed non-producing (behind pipe) assets accounted for two thirds
of the value of the reserves while the remaining third of the value is proved
undeveloped reserves.
William E. Scaff, Jr. co- CEO of Synergy commented, "The increase in our
reserves is largely a result of the success of our operated horizontal drilling
program with our first 11 horizontal wells being included as proved developed
producing assets. Our plans call for another 20-25 horizontal wells to be
included in the reserve report for our fiscal year ending August 31st, 2014. We
continue to work with Ryder Scott Company, our third party reserve engineers, to
account for increased density of horizontal Niobrara and Codell wells in the
Wattenberg Field." About Synergy Resources Corporation
Synergy Resources Corporation is a domestic oil and natural gas exploration and
production company. Synergy's core area of operations is in the Denver-Julesburg
Basin, which encompasses Colorado, Wyoming, Kansas, and Nebraska. The Wattenberg
field in the D-J Basin ranks as one of the most productive fields in the U.S.
The company's corporate offices are located in Platteville, Colorado. More
company news and information about Synergy Resources is available at
www.syrginfo.com.
Important Cautions Regarding Forward Looking Statements
This press release may contain forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995. The use of words such as
"believes", "expects", "anticipates", "intends", "plans", "estimates", "should",
"likely" or similar expressions, indicates a forward-looking statement. These
statements are subject to risk and uncertainties and are based on the beliefs
and assumptions of management, and information currently available to
management. The actual results could differ materially from a conclusion,
forecast or projection in the forward-looking information. Certain material
factors or assumptions were applied in drawing a conclusion or making a forecast
or projection as reflected in the forward-looking information. The
identification in this press release of factors that may affect the company's
future performance and the accuracy of forward-looking statements is meant to be
illustrative and by no means exhaustive. All forward-looking statements should
be evaluated with the understanding of their inherent uncertainty. Factors that
could cause the company's actual results to differ materially from those
expressed or implied by forward-looking statements include, but are not limited
to: the success of the company's exploration and development efforts; the price
of oil and gas; worldwide economic situation; change in interest rates or
inflation; willingness and ability of third parties to honor their contractual
commitments; the company's ability to raise additional capital, as it may be
affected by current conditions in the stock market and competition in the oil
and gas industry for risk capital; the company's capital costs, which may be
affected by delays or cost overruns; costs of production; environmental and
other regulations, as the same presently exist or may later be amended; the
company's ability to identify, finance and integrate any future acquisitions;
and the volatility of the company's stock price.