About Saratoga ResourcesSaratoga is an independent exploration and production Company with offices in Houston, Texas and Covington, Louisiana. Principal holdings cover 33,625 gross (31,125 net) acres, mostly held-by-production, located in the transitional coastline and protected in-bay environment on parish and state leases of south Louisiana. For more information, go to our 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, including statements regarding our ability to grow reserves, future production levels and profitability, our ability to fund our planned drilling and development efforts, the actual finalization of a joint venture agreement with respect to ultra-deep prospects, the terms of any such joint venture, our ability to fulfill our obligations with respect to such joint venture, the ultimate results of any drilling efforts of such joint venture and our ability to realize valuations on a net asset value per share basis in line with industry standards. 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. (NYSE AMEX: SARA) announced today that members of its senior management team will ring the bell to open the trading session at the New York Stock Exchange on Wednesday, January 11, 2012 at 9:30 a.m. EST. Representing Saratoga at the event will be Chairman of the Board and Chief Executive Officer, Thomas Cooke; President, Andy Clifford; and Chief Financial Officer, Michael Aldridge. The Opening Bell ceremony can be viewed live on several business television channels including Fox Business and CNBC. Management Comments Mr. Thomas Cooke, Chairman and CEO, said, “We are honored that the New York Stock Exchange has invited our company to open the market. Our listing on the NYSE Amex, in July 2011, culminated a remarkable period in our company’s history and laid the foundation for what we believe is a most exciting future. We are excited to be entering a new year for the first time positioned to fully realize the value of our asset base, an asset base that includes a large inventory of PDNP and PUD opportunities. Even more so, we are excited about our deep and ultra-deep prospects in Grand Bay and Vermilion 16. We believe these prospects are strategically located within a burgeoning play in the shallow state waters of the Gulf of Mexico and offer substantial upside potential. We are in negotiations with a major operator in the ultra-deep play to form a joint venture to explore one or more of those prospects. While our stock, on a net asset value per share basis, continues to trade at a discount to industry valuations, we are pleased that our efforts over the past several years have not gone unnoticed with our market capitalization increasing from less than $35 million just over a year ago to more than $190 million at year-end 2011. As the market becomes aware of our story, we are confident that our valuation will come in line with market valuations and reflect what we expect will be growing reserves, production and profitability.”