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EXHIBIT 99
SYNERGY RESOURCES ANNOUNCES LYNN PETERSON HAS JOINED THE EXECUTIVE TEAM
PLATTEVILLE, CO -- (Marketwired) -- 05/28/15 -- Synergy Resources Corporation
(NYSE MKT: SYRG) ("Synergy"), a U.S. oil and gas exploration and production
company focused in the Denver-Julesburg Basin, announced that Mr. Lynn Peterson
has joined the executive team at Synergy as President of the company. Mr.
Peterson will work closely with co-CEOs Ed Holloway and William Scaff as Synergy
evaluates asset acquisitions and growth opportunities in the Wattenberg Field
and the NE Wattenberg Extension Area. Mr. Peterson is the former Co-Founder,
President & CEO of Kodiak Oil and Gas Corp (Kodiak). Kodiak a Bakken shale
company producing over 42,000 barrels of oil equivalent (BOE) per day, with an
enterprise value over $6 billion, at the time of its merger with Whiting
Petroleum in 2014.
Ed Holloway, co-CEO, of Synergy remarked, "I have often said that Synergy's
greatest asset is our people. I believe the addition of Lynn Peterson to our
team will prove to be one of our most significant acquisitions. Lynn is a native
Coloradoan, whom I have known since the early 1970's when we were both attending
the University of Northern Colorado, and he fits well into our corporate
culture. Lynn's experience in building Kodiak from the ground up into a
multi-billion dollar company will be invaluable to Synergy as we continue our
rapid growth."
Lynn Peterson commented, "I am very pleased to be joining the Synergy team and
working with Ed and Bill, as well as the entire Synergy staff. Synergy offers a
unique opportunity with the strength of its balance sheet, and significant
acreage position across the Greater Wattenberg Area. The Wattenberg continues to
deliver some of the best economics under current industry conditions. The
combination of all of these attributes should provide us the opportunity to grow
the Company and create additional shareholder value during the coming years."
William Scaff, co-CEO, of Synergy added, "We have been positioning ourselves for
this "reset" of the industry for the past nine months focusing on lowering costs
in a lower commodity price environment. We believe our strong balance sheet,
which is in a net cash position, and the low interest rate on our revolving line
of credit allows us to take this company to the next level due to many
opportunities we have before us. With Lynn joining our team, we will continue
our keen focus on growing this company both through the drill bit and through
capitalizing on opportunities in one of the most prolific, economic oil and gas
fields in North America - the Wattenberg Field. We look forward to Lynn's
experience and leadership in helping us to achieve the next level for Synergy
Resources."
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.
SAFE HARBOR
This press release contains forward-looking statements regarding future events
and our future results that are subject to the safe harbors created under the
Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of
1934 (the "Exchange Act"). All statements other than statements of historical
facts included in this press release regarding our financial position, business
strategy, plans and objectives of management for future operations and industry
conditions, and are forward-looking statements. When used in this press release,
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forward-looking statements are generally accompanied by terms or phrases such as
"estimate," "project," "predict," "believe," "expect," "anticipate," "target,"
"plan," "intend," "seek," "goal," "will," "should," "may" or other words and
similar expressions that convey the uncertainty of future events or outcomes.
Items contemplating, or making assumptions about, actual or potential future
sales, market size, collaborations, and trends or operating results also
constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and
important factors (many of which are beyond the Company's control) that could
cause actual results to differ materially from those set forth in the
forward-looking statements, including the following: general economic or
industry conditions, nationally and/or in the communities in which Synergy
conducts business, changes in the interest rate environment, legislation or
regulatory requirements, conditions of the securities markets, the ability to
raise capital, changes in accounting principles, policies or guidelines,
financial or political instability, acts of war or terrorism, as well as other
economic, competitive, governmental, regulatory and technical factors affecting
the Company's operations.
These forward-looking statements are based on current expectations and
assumptions about future events. While management considers these expectations
and assumptions to be reasonable, they are inherently subject to significant
business, economic, competitive, regulatory and other risks, contingencies and
uncertainties, most of which are difficult to predict and many of which are
beyond Synergy's control.
CONTACT:
Investor Relations Contact:
Jon Kruljac
Synergy Resources Corporation
jkruljac@syrginfo.com
Tel (303) 840-8166
Company Contact:
Rhonda Sandquist
Synergy Resources Corporation
rsandquist@syrginfo.com
Tel (970) 737-107