Saratoga Resources, Inc. Provides Operations and Financial Update

Saratoga Resources, Inc. (NYSE MKT: SARA; the 'Company? or 'Saratoga?)
today provided an update on the status of previously announced
operations for the remainder of 2012 as well as guidance with respect to
certain anticipated year-end financial metrics.

With respect to the previously announced QQ-209 'Buddy? development
well, Saratoga has contracted the Parker 50-B drilling rig, which is
currently being mobilized to location, and plans to spud the well this
Sunday, December 23. Drilling operations on the Buddy well are expected
to be completed by year end.

With respect to the previously announced recompletion operations in
Grand Bay Field, operations have been completed and the Company has
released the Moncla 118 workover rig. Operations on the MP-47 SL 195
QQ-24 well in Grand Bay Field consisted of a gravel-pack completion of
the 29M sand while setting up the 20 sand as a future non gravel-pack
completion. The well is expected to be brought on production in the next
week. On the GPLD A-191 well in Grand Bay Field, the Company performed
diagnostic work and has set a retrievable plug to accommodate future
operations pending evaluation of its alternatives to access the
associated reserves.

The Company also announced that its projected full year 2012
Discretionary Cash Flow is estimated at $30 million, or approximately
$1.00 per share, and that its projected year end cash balance is
estimated to be in excess of $32 million.

Management Comments

Mr. Thomas F. Cooke, Chairman and Chief Executive Officer of Saratoga
Resources, said, 'We are pleased to announce that we have returned to
executing our development plan with the recompletion of our MP-47 SL 195
QQ-24 well, which came in under budget and ahead of schedule, and the
imminent spud of our QQ-209 'Buddy? development well. In addition, the
diagnostics performed on our GPLD A-191 are expected to allow us to
develop an appropriate plan to maximize production from the well. As we
bring the year to a close, we have returned production to normal
operating levels after the shut-ins caused by Hurricane Isaac and once
more building cash flow and our cash position. While financial
performance for the year and our financial position have been impacted
by the effects of Hurricane Isaac, including deferral of production and
associated revenues estimated to exceed $7 million and deferral of our
development plan and associated production and revenues, we are pleased
with these anticipated results, all of which indicate that we are
generating positive cash flow from operations and are well positioned to
effect our 2013 business plan.?

Non-GAAP Financial Measures

Discretionary Cash Flow and Discretionary Cash Flow Per Share are
non-GAAP financial measures.

Discretionary Cash Flow and Discretionary Cash Flow Per Share are
supplemental financial measures used by the company′s management and by
securities analysts, investors, lenders, rating agencies and others who
follow the industry as an indicator of the company′s ability to
internally fund exploration and development activities. Discretionary
cash flow should not be considered as a substitute for net income,
operating income, cash flows from operating activities or any other
measure of financial performance or liquidity presented in accordance
with generally accepted accounting principles ('GAAP?). Discretionary
cash flow excludes some, but not all, items that affect net income and
operating income and these measures may vary among other companies.
Therefore, the company′s Discretionary Cash Flow or its Discretionary
Cash Flow Per Share may not be comparable to similarly titled measures
used by other companies.

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

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.

Saratoga Resources, Inc.

Brad Holmes, 713-654-4009

Investor
Relations

or

Thomas Cooke, CEO, 713-458-1560

or

Andrew
Clifford, President, 713-458-1560

or

Michael Aldridge, CFO,
713-458-1560

Website: www.saratogaresources.com