Saratoga Resources, Inc. Set To Join Russell 3000 Index

Saratoga Resources, Inc. (NYSE MKT: SARA, the “Company”) is set to join the broad-market Russell 3000® Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 25, 2012 according to a preliminary list of additions posted June 8 th on www.russell.com

Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000® index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell lunched in 2007.

Russell indexes are widely used by investment managers and institutional investors for index funds and as a benchmark for both passive and active investment strategies. In the institutional marketplace, an industry leading $3.9 trillion in assets currently are benchmarked to them. Russell calculates more than 80,000 benchmarks daily covering approximately 98% of the investable market globally, 83 countries and more 10,000 securities. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market driven set of benchmarks in order to evaluate outside investment managers.

Total returns data for the Russell 3000 and other Russell Indexes is available at www.russell.com/indexes/data/us_equity/Russell.us.index.returns.asp.

Management Comments

Mr. Thomas Cooke, CEO and Chairman of Saratoga Resources, Inc., said, “We are pleased with the news that Saratoga Resources has been preliminarily identified by Russell as being qualified for inclusion on the prestigious Russell 3000® index and the small-cap Russell 2000®. This news validates our growth strategy and represents yet another milestone as we continue to build a world class oil and gas company.”

About Russell

Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed, multi-asset portfolios and services that include advice, investments and implementations. Working with institutional investors, financial advisors and individuals, Russell’s core capabilities extend across capital markets insights, manager research, Indexes, portfolio implementation and portfolio construction. Russell has approximately $155 billion in assets under management (as of 3/31/2012) and works with 2,400 institutional clients, more than 580 independent distribution partners and advisors and individual investors globally. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.

About Saratoga Resources, Inc.

Saratoga Resources, Inc. is an independent exploration and production company with offices in Houston, Texas and Covington, Louisiana. Principal holdings cover 32,185 gross/net acres, mostly held-by-production, currently 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.

Copyright Business Wire 2010

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