Saratoga Resources, Inc. Announces Pricing of $25.0 Million of 12 ?% Senior Secured Notes

Saratoga Resources, Inc. (NYSE MKT: SARA, 'Saratoga? or the 'Company?)
announced today the pricing of a private placement of $25.0 million of
12 ?% Senior Secured Notes due 2016. The offering was sold at 98.58% of
par plus accrued interest from July 1, 2012. The offering, which is
subject to customary closing conditions, is expected to settle on
December 4, 2012. Net proceeds from the offering will be used for
general corporate purposes, including working capital and capital
expenditures.

The notes have not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from such registration
requirements. The notes may be resold by the initial purchaser pursuant
to Rule 144A and Regulation S under the Securities Act.

This announcement does not constitute an offer to sell or the
solicitation of an offer to buy the notes or any other securities. This
notice is being issued pursuant to and in accordance with Rule 135c
under the Securities Act.

Thomas F. Cooke, Saratoga′s Chairman and Chief Executive Officer, said,
'We are pleased at the prospect of adding liquidity and establishing a
substantial cash reserve as we close out 2012 and enter 2013. Following
the deferral of upwards of $7+ million in revenues in the wake of
Hurricane Isaac and the resulting deferral of multiple projects, as we
are rebuilding our cash position, this added liquidity is expected to
provide operating flexibility and the ability to move up the time frame
of several projects originally targeted for completion before year-end
2012, including our planned QQ-209 development well and two major rig
recompletions in Grand Bay field. These projects, based on our internal
estimates, are expected to add 500 or more barrels of net production per
day with over 80% of this projected production increase expected to be
oil. We are presently engaged in efforts to secure rigs to begin work on
those projects as soon as possible. With our production and cash flow
returning to normal levels post-Hurricane Isaac and the prospect of
adding production from bringing our development plan back on schedule,
and in order to lock-in the favorable oil pricing we continue to enjoy,
we recently added new hedges covering 1,000 barrels of oil per day for
the first quarter of 2013 at an average price of $107.50 per barrel for
our Light Louisiana Sweet crude production.?

About Saratoga Resources

Saratoga Resources is an independent exploration and production company
with offices in Houston, Texas and Covington, Louisiana. Principal
holdings cover 32,119 gross/net acres, mostly held-by-production (all
depths), currently located in the transitional coastline and protected
in-bay environment on parish and state leases of south Louisiana. Most
of the company's large drilling inventory has multiple pay objectives
that range from as shallow as 1,000 feet to the ultra-deep prospects
below 20,000 feet in water depths of less than 10 feet. For more
information, go to Saratoga's website at www.saratogaresources.com
and sign up for regular updates by clicking on the Updates button.

Forward-looking Statements

The Private Securities Litigation Reform Act of 1995 provides a 'safe
harbor? for forward-looking statements. This news release contains
information regarding Saratoga′s offering of notes, the use of proceeds
therefrom, the timing of commencement and completion of projects,
production levels from new projects and production and cash levels going
forward that may be deemed forward-looking and that is based largely on
the Company′s current expectations, and is subject to certain risks and
uncertainties that could cause actual results to differ materially from
those anticipated. Any statements that are not statements of historical
fact (including statements containing the words 'may,? 'will,? 'would,?
'could,? 'believes,? 'expects,? 'anticipates,? 'intends,? 'plans,?
'projects,? 'considers? and similar expressions) generally should be
considered forward-looking statements. Readers are cautioned not to
place undue reliance on such forward-looking statements, which are made
as of the date of this release. The Company does not undertake to
publicly update or revise its forward-looking statements.

Saratoga Resources, Inc.

Brad Holmes, 713-654-4009

Investor
Relations

or

Thomas Cooke, 713-458-1560

CEO

or

Andrew
Clifford, 713-458-1560

President

or

Michael Aldridge,
713-458-1560

CFO

www.saratogaresources.com