Miller Energy Announces the Close of Its Acquisition of Savant

HOUSTON, TX--(Marketwired - Dec 12, 2014) - Miller Energy Resources, Inc. (NYSE: MILL) ("Miller" or "the Company") today announced that it has closed its acquisition of Savant Alaska, LLC for a net cash price of $6.5 million, after adjustment for the May 1, 2014 effective date. This acquisition will immediately add approximately 600 Bopd net to Miller's production.

About Miller Energy Resources

Miller Energy Resources, Inc. is a domestic oil and natural gas exploration and production focused on Alaska. The Company's enterprises encompass production and reserves onshore and offshore in the Cook Inlet area as well as the North Slope, approximately 100MBPD of storage and processing infrastructure, the Osprey offshore production platform, oil and gas pipelines and four owned drilling rigs. Miller manages its operations from Anchorage with additional administrative offices in the lower 48. The Company's common stock is listed on the NYSE under the symbol MILL.

Statements Regarding Forward-Looking Information

Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predications of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not guarantees of future activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "expect," "anticipate," "intend," "plan," "should," "may," "will," believes," "continue," "strategy," "position," "opportunity" or the negative of those terms or other variations of them or by comparable terminology. A discussion of these risk factors is included in the Company's periodic reports filed with the SEC.