SAN ANTONIO, Feb. 12, 2018 /PRNewswire/ -- Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that the Kudu #2H has reached a 24-hour initial production rate of 1,475 Boepd on a three-stream basis, at 299 Boepd per 1,000 ft.  The well is currently producing at 75% liquids on a three-stream basis. 

The Kudu #2H is Lilis's eighth successful operating horizontal Wolfcamp B well in the Permian's Delaware Basin.  The Kudu #2H's 4,935 ft. lateral was completed with 25 stages of 200 ft. plug-to-plug spacing with approximately 2,006 lbs. of sand per ft.  The Kudu #2H continues the trend of Lilis producing some of the highest IP rates in the basin, based on an IP per 1,000 ft. 

Lilis is also currently flowing back two additional wells and has two wells awaiting completion, including a Wolfcamp B in the eastern portion of its Texas acreage and a Wolfcamp XY in the western portion of its Texas Acreage. As recently discussed, the drilling program in 2018 will focus on the delineation of our acreage, both geographically and geologically.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production compan that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America.  Upon closing of the Acquisition, Lilis's total net acreage in the Permian Basin is expected to be over 19,000 acres.  Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs; our anticipated future cash flows and ability to access other sources of liquidity; all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Additionally, initial production rates are subject to decline over time and should not be regarded as reflective of sustained production levels. In particular, production from horizontal drilling in shale oil and natural gas resource plays and tight natural gas plays that are stimulated with extensive pressure fracturing are typically characterized by significant early declines in production rates. Readers are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

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SOURCE Lilis Energy, Inc.

SAN ANTONIO, Texas, Sept. 25, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas, announced today that Ronald D. Ormand, the Company's Executive Chairman of the Board, will present at the Johnson Rice & Company 2017 Energy Conference on September 27, 2017 at 11:00am Central Time, at the Ritz Carlton New Orleans, in Salon II. Mr. Ormand will discuss the Company's business strategy and recent developments in the Permian's Delaware Basin.

For more information, please visit http://www.jrco.com.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 10,500 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

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SOURCE Lilis Energy, Inc.

SAN ANTONIO, Sept. 6, 2017 /PRNewswire/ --Lilis Energy, Inc. (NYSE American: LLEX) announced today that it will ring the NYSE Opening Bell on Thursday, September 7, 2017. Executive Chairman Ronald Ormand will perform the honorary Bell ringing ceremony at 9:30am ET.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 10,500 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

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SOURCE Lilis Energy, Inc.

SAN ANTONIO, Aug. 14, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced a second quarter operations and corporate update.

"The initial production rates on our Delaware Basin wells continue to yield results above our expectations and are among the best in the basin. Our first three wells exceeded internal projections and we are confident that our fourth well, the Lion, is on track to repeat similar results," said Jim Linville, Lilis's Chief Executive Officer. "We are currently producing 2,674 net BOEPD ⁽³⁾ and have increased our proved reserves to 10.4 MMBOE over the past six months. In conjunction with this, we continue to expand our acreage footprint and have accumulated approximately 10,500 net acres. Additionally, we completed a new midstream contract."

Financial Update
"The Company remains well capitalized and in a strong position to take advantage of accretive acquisition opportunities within our core area of focus in Winkler, Loving and Lea counties.  Additionally, our midstream contract with Lucid Energy is expected to improve our realized production, minimize curtailment and assist in increasing operating cash flows on a go-forward basis. Over the last few months, we have undertaken significant strides to strengthen our balance sheet which will allow us to exploit and de-risk our strong acreage position, to maximize shareholder value," said Joe Daches, Lilis's Chief Financial Officer.

Statement of Operations for Six Months Ending June 30, 2017
As reported in the Company's Form 10-Q filed on August 14, 2017, Lilis's reported total revenue was approximately $8.6 million for the six months ended June 30, 2017 as compared to approximately $1.0 million for the six months ended June 30, 2016, representing an increase of approximately $7.6 million. The higher revenues were primarily driven by an increase in liquid heavy production from the Company's Delaware Basin properties.

Production costs were approximately $2.3 million for the six months ended June 30, 2017, compared to approximately $0.4 million for the six months ended June 30, 2016, an increase of approximately $1.9 million. Production costs per BOE increased to $9.90 for the six months ended June 30, 2017 from $9.19 for the six months ended June 30, 2016, an increase of $0.71 per BOE, or 8%. The increase in production costs per BOE was primarily due to costs associated with the producing wells in the Delaware Basin.

Delaware Basin Well Results:
To date, Lilis has drilled and completed four operated horizontal Wolfcamp B wells, which are the Bison #1H, the Grizzly #1H, the Hippo #1H and the Lion #1H, all with 1with IP rates exceeding initial internal projections. Lilis is currently completing its fifth operated Wolfcamp B horizontal well, the Wildhog #1H and is scheduled to complete its sixth operated Wolfcamp B horizontal well, the Prizehog #1H, in September 2017.

Highlights of Lilis's well results are as follows:

Currently on Production ⁽⁴⁾:
*BOE/D based on three stream production to account for liquids rich gas uplift.

• The Bison #1H IP30 rate of 2,144 BOE/D – 74% Liquids
• The Bison #1H IP60 rate of 1,576 BOE/D – 74% Liquids
• The Bison #1H IP90 rate of 1,429 BOE/D – 78% Liquids
  The Bison #1H was turned to sales on January 19, 2017 and had a 24-hour rate of 2,375 BOE/D (75% liquids) or 344 BOE/D per 1,000 lateral ft.
  
• The Grizzly #1H IP30 rate of 1,323 BOE/D – 63% Liquids
• The Grizzly #1H IP60 rate of 1,016 BOE/D – 63% Liquids
• The Grizzly #1H IP90 rate of 901 BOE/D – 67% Liquids
  The Grizzly #1H was turned to sales on February 9, 2017 and had a 24-hour rate of 1,666 BOE/D (65% liquids) or 406 BOE/D per 1,000 lateral ft.
  
• The Hippo #1H IP30 rate 1,506 BOE/D – 76% Liquids
• The Hippo #1H IP60 rate 1,292 BOE/D – 75% Liquids  
  The Hippo #1H was turned to sales on April 14, 2017 and had a 24-hour rate of 1,917 BOE/D (74% liquids) or 367 BOE/D per 1,000 lateral ft.
  
• The Lion #1H IP24 hour rate 1,530 BOE/D (69% Liquids) or 380 BOE/D per 1,000 lateral ft.
  The Lion #1H was turned to sales on June 26, 2017. This well's treatable lateral length was 4,025 feet. The stimulation was 150-foot plug to plug spacing with 2,200 lbs. of sand per foot.

Currently Completing:

• The Wildhog BWX State Com #1H
  Well was drilled to 17,244 ft. measured depth (MD). The 4,567-foot treated lateral was completed using 23 stages of 200-foot plug to plug spacing and 1,837 lbs. of sand per foot. The well is being prepared for flowback operations.

Currently Drilling:

• The Prizehog BWZ State Com #1H
  The well has been drilled to a total depth of 17,421 ft. MD. Production casing has been run and cemented.

Mid-Year Reserve Update ⁽⁵⁾
Lilis's proved reserves were 10.4 MMBOE at mid-year 2017. This is a 767% increase since December 31, 2016. Increased reserves are attributable to the following:

• Successful single rig program delivering 3 PDP wells and 2 DUC completions
• 15-PUD locations booked as offsets to existing PDP wells
• Optimization of legacy production
• Acquiring additional leasehold and non-consent well bore elections

Gas Gathering, Processing, and Purchase Agreement
During the months of May and June, production was impacted by pipeline take-away limitations.  The limitations were caused by operational downtime, mainly due to third party compressor issues. In response to these developments, management took immediate action to implement an improved midstream solution.

On August 10, 2017 we entered into a long-term gas gathering, processing and purchase agreement with Lucid Energy Delaware, LLC, to support Lilis's active drilling program in the Delaware Basin. Lucid will receive, gather and process Lilis's committed gas production from certain production areas located in Lea County, New Mexico and in Loving and Winkler counties, Texas. The agreement has an initial term of ten years.

Closing Note
Ronald Ormand, Executive Chairman of Lilis, said, "The Company is well positioned to continue delivering superior results with an established management and operations team. Our strategic goal remains to build shareholder value through continued execution of our developmental drilling program, delineation and de-risking of our acreage position, and selective accretive acquisitions.  Further, as we mature and grow our production base and cashflow, we intend to focus more on managing expenses, especially cash G&A. We will focus on maximizing shareholder value through the most appropriate means possible in the future."

About Lilis Energy, Inc.
Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 10,500 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

(1)      Delaware Basin production curtailment of ~ 200 net BOE/D resulting in an adjusted average daily production of  ~ 2,151 net BOE/D for June 2017
(2)      Does not include ~250 net BOE/D of legacy gas shut in
(3)      As of August 7, 2017
(4)      Due to production curtailment in May and June 2017, IP90 rates do not reflect the wells full performance capabilities
(5)      These reserves do not include the DJ Basin assets divested in the first quarter of 2017.

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SOURCE Lilis Energy, Inc.

SAN ANTONIO, Aug. 14, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE American: LLEX) ("Lilis"or "the Company"), an exploration and development company operating in the Permian Basin of West Texas, today announced it has entered into a long-term gas gathering, processing and purchase agreement with an affiliate of Lucid Energy Group ("Lucid") (www.lucid-energy.com) to support Lilis's active drilling program in the Permian's Delaware Basin. Lucid will receive, gather and process Lilis's gas production from certain production areas located in Lea County, New Mexico and in Loving and Winkler counties, Texas. The agreement secures sufficient term and capacity for Lilis during its development and exploitation life cycle of the production areas committed to the new agreement.

"We are pleased to enter into this important, long-term agreement with Lucid in the Permian Basin where our wells are consistently delivering strong operational results. The new agreement positions Lilis with sufficient gathering and processing capacity as we execute our long-term development plans," said Lilis Chief Executive Officer Jim Linville. "Lucid will be a great partner. They have an outstanding reputation for developing solutions unique to individual company needs and for relationship-focused customer service. We look forward to a successful, long-term partnership."

Lilis Chief Financial Officer Joe Daches added, "Our continued growth and well performance in the Delaware Basin is the primary reason we were able to gain very favorable gathering rates. This agreement will result in improved gathering rates and improved differentials for the Company."

Republic Development Partners, LLC, based in Houston, Texas consulted the Company.

About Lilis Energy, Inc.
Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 10,500 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com

About Republic Development Partners
Republic Development Partners, LLC ("Republic") is a Houston-based midstream company that identifies and executes midstream infrastructure opportunities predominantly in conjunction with crude oil, natural gas, natural gas liquids and water projects. Republic's wholly owned subsidiary, RDP Producer Services, LLC provides midstream services in cooperation with exploration and production companies. For more information, please visit www.republicpartnersllc.com.  

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

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SOURCE Lilis Energy, Inc.

SAN ANTONIO, Aug. 7, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas, announced today that Ronald D. Ormand, the Company's Executive Chairman of the Board, will present at EnerCom's The Oil & Gas Conference on Tuesday, August 15, from 9:15-9:40 a.m. Mountain Time in the Conference C Room. A breakout session will follow from 9:40-10:30 a.m. Mountain Time in the Lawrence A Room. Mr. Ormand will discuss the Company's advancements in the Permian's Delaware Basin.

In its 21^st year, EnerCom's The Oil & Gas Conference is being held at The Westin Denver, August 13-17. For more information, please visit http://www.theoilandgasconference.com/.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 10,000 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

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SOURCE Lilis Energy, Inc.

SAN ANTONIO, June 26, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE MKT: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced that James Linville has joined the company as its new President, effective today. He will report directly to the Chief Executive Officer, Avi Mirman.

Throughout his 30-year career, Mr. Linville, a petroleum engineer by background, has led and managed oil and gas development projects in the majority of the major unconventional U.S. basins for companies including U.S. Energy Development Corporation, American Energy Partners, and Devon Energy (NYSE:DVN). Amongst his key career accomplishments are evaluating over $12 billion of acquisitions, with over $5 billion completed; co-managing approximately $850 million multi-rig horizontal development programs, and overseeing drilling of over 500 wells.

"Lilis is one of the top performing and highest-growth upstream energy companies in 2017. To help achieve our goal of continued growth, we are continuing to expand our core management team to selectively add talented executives with experience in high growth companies. With over three decades of experience, Jim is the right man for the job. Not only has he built an impressive track record of oil and gas operational excellence, most recently in the Delaware and Midland basins of the Permian, but he also has substantial experience with growing companies through acquisitions and strategic divestitures," said Mr. Mirman. "The weakening commodity climate, coupled with our strong financial position, provides an exceptional timing opportunity for us to continue to expand our position in the Permian and strengthen our foundation."

Prior to joining Lilis, Mr. Linville was Senior Director, Operations and Development for U.S. Energy Development Corporation, where he also served as a member of the Capital Committee tasked with deploying up to $200 million annually, primarily within the Delaware Basin and Eagle Ford. Previously, he served as Director-Acquisitions for American Energy Partners and subsequently as Director-Operations, for American Energy Partners' Permian Basin affiliate. During his tenure, Mr. Linville was responsible for assembling and leading the technical team that screened over 400 acquisition opportunities. Two of Mr. Linville's key evaluations resulted in the successful creation of $4.25 billion in Permian and Marcellus platform companies for American Energy Partners.

"I am very excited to join Lilis Energy and look forward to working with the management and technical teams to help take the Company to the next level. Lilis has first-class assets in the core of the Delaware Basin, and is well capitalized and positioned to benefit from opportunities caused by weak market conditions. I am confident that we will continue to maximize shareholder value through a disciplined growth and development strategy," said Mr. Linville.

Mr. Linville's career includes serving in various engineering and leadership roles at Devon Energy from January 2001 to January 2014. From 2007-2014, Mr. Linville was Devon's Operations Manager-Rockies, where he managed a $300 million capital budget with 50 horizontal wells drilled per year; oversaw 2,700 producing wells, and supervised 200 employees. Prior positions with Devon included serving as Supervisor-Business Process Transformation Team, an 18-month special project; Senior Reservoir Engineering Advisor-Permian New Mexico, and Senior Operations Engineer-Permian New Mexico. Mr. Linville's background also includes serving as New Zealand Drilling Manager and Senior District Petroleum Engineer-Appalachian Basin for Eastern American Energy & Westech International; Senior Production Operations Engineer for Consolidated Oil and Gas; Petroleum Engineer: Permian, Rockies, Midcontinent & Gulf Coast for Hallwood Petroleum, and Drilling Engineer and Rig Supervisor for UNOCAL.

Mr. Linville earned a Bachelor of Science in Petroleum Engineering from New Mexico Tech, and a Master of Environmental Management from Marshall University. He is a member of the Petroleum Advisory Board of New Mexico Tech, and has previously served as a board member, section chairman, and regional meeting chairman of the Society of Petroleum Engineers. Mr. Linville is a registered professional engineer with the State of Colorado.

About Lilis Energy, Inc.
Lilis Energy, Inc. is a San Antonio-based oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered among the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is over 10,000 acres. Lilis Energy's focus is to grow current reserves and production and pursue strategic acquisitions in the Delaware Basin. For more information, please visit www.lilisenergy.com.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, June 1, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE MKT: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced that the Hippo #1H reached a peak 24hr rate on May 26, 2017 of 1,917 Boepd at 4,105 lateral feet on a three-stream basis, or 1,662 Boepd on a two-stream basis. The well currently is producing at 67% oil; 74% liquids on a three-stream basis.

The Hippo #1H has been online for 46 days and is producing on a restricted choke with more than 1,600 pounds of flowing tubing pressure. The Hippo #1H's 4,105-foot lateral well was completed with 20 stages of 200-foot plug to plug spacing with approximately 2,200 lbs. of sand per foot. The Hippo #1H has not yet reached a peak 30-day initial production rate.

"The Hippo is our third successful operated horizontal Wolfcamp B well this year, all with IP rates exceeding initial internal projections," said Avi Mirman, Lilis's Chief Executive Officer.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is over 10,000 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, May 16, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE MKT: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced a year-to-date operations and corporate update.

Avi Mirman, Lilis's Chief Executive Officer, commented: "2017 continues on a rapid pace for Lilis, with goals exceeded both operationally and financially. Sequential average daily production jumped from 350 to 1,630 net barrels of oil equivalent per day (12/31/16 – 5/8/17) – an increase of about 365% in four and a-half months. We believe the wells we are drilling are among the best in the country on a BOE per lateral foot basis. As such, we reaffirm our December exit rate production target of between 5,000 – 5,300 net BOE per day.

"In addition to these strong operational results, in April 2017, we successfully completed term loan financings with up to $140 million of availability, making us well positioned to execute on our 2017 drilling and acreage acquisition plans in the Delaware Basin of the Permian, where we have already surpassed our initial acreage target of 10,000 net acres as of last month. We acquired 7,685 gross, 4,344 net acres in the first four months of the year, and plan to expand our leasehold footprint judiciously and opportunistically during the remainder of the year. Our recently announced financings have enabled us to recapitalize and strengthen our balance sheet to support our continued growth, said Mr. Mirman.

Mr. Mirman added: "Initial production rates on the Bison #1H and the Grizzly #1H, the first two wells of our Delaware Basin development program have yielded results above our original expectations. Management expects the remainder of our program to have similar results as the Bison #1H and the Grizzly #1H. Equally impressive is the stability of the production profiles of the Bison #1H and the Grizzly #1H, which reached peak 60-day production rates of 1,576 and 1,016 net BOE per day, respectively, or 74% and 77%, of their peak 30-day rates. Cumulative net production from the Bison #1H and the Grizzly #1H through April 30, 2017 was 124,000 BOE and 65,000 BOE, during the first 102 and 71 days of production, respectively.

"Year to date, we have drilled four wells and completed three wells. The third well, the Hippo, is flowing back, and the fourth, the Lion, will be completed this week. We plan to drill 11 gross, 9 net, wells in total this year. Given our cost performance to date, we expect our total 2017 drilling and completion capital spending will remain within our anticipated target of approximately $50 million. While we anticipate that our drilling capital expenditures in 2017 will exceed cash flow, we expect to have sufficient access to capital to fund the balance through availability under our recent financings," continued Mr. Mirman. "Looking ahead to 2018, we anticipate adding a second rig to our development program early in the year. A two-rig program would allow us to spud approximately 20 gross, 16 net, wells. Assuming commodity price levels remain consistent, we expect that the majority of our 2018 Delaware Basin drilling program will be funded from internally generated cash flow."

Financial Update
The Company has successfully tapped incremental sources of capital and expanded its liquidity since the beginning of this year, most recently closing on up to $140 million of availability under term loan credit facilities, including a second lien facility with $80 million drawn, a first lien facility with $15 million drawn and access to up to an additional $45 million in delayed-draw term loans. After giving effect to the repayment of $38.1 million in outstanding debt under the Company's first lien term loan, the financings resulted in immediate proceeds of $56.6 million in cash for the Company. Including available draws under the discretionary, delayed-draw term loan, which is accessible to fund certain leasing activity and acreage acquisitions, as of May 15, 2017, the Company would have cash on hand of approximately $98 million. 

Also, on May 9, the Company's common stock commenced trading on the NYSE MKT, where it continues to trade under the ticker LLEX. 

Joe Daches, Lilis's Chief Financial Officer, stated, "We have been able to achieve meaningful milestones since the beginning of the year in the Company's plan to create shareholder value.  We expect the incremental capital accessed by the Company since March 31, 2017 will fully fund the approved 2017 capital budget. In addition, management and the Board believe that LLEX's transition to the NYSE MKT will increase its visibility to energy investors and trading liquidity. 

"In addition, the recent financings have been accompanied by significant strides in simplifying the Company's balance sheet. As part of our recent financing transactions, we also redeemed 100% of the Company's Conditionally Redeemable Preferred Stock and converted 100% of the Company's Series B Preferred Stock into common stock. Finally, since January 1, 2017, holders of approximately 3.7 million warrants have exercised their right to receive common stock, including the holders of 100% of 'penny' warrants," Mr. Daches said.

Statement of Operations for March 31, 2017
As reported in the Company's Form 10-Q filed on Friday, May 12, 2017, Lilis reported total revenue was approximately $3.2 million for the three months ended March 31, 2017 as compared to approximately $0.04 million for the three months ended March 31, 2016, representing an increase of approximately $3.2 million. The higher revenues were primarily driven by an increase in production from the Company's Delaware Basin properties.

Production costs were approximately $0.9 million for the three months ended March 31, 2017, compared to approximately $0.04 million for the three months ended March 31, 2016, an increase of approximately $0.5 million. Production costs per BOE decreased to $11.02 for the three months ended March 31, 2017 from $20.96 for the three months ended March 31, 2016, a decrease of $9.94 per BOE, or 47%. The decrease in production costs per BOE was primarily due to costs associated with the producing wells in the Delaware Basin, which have significantly lower per unit operating costs than the DJ Basin. 

Production taxes were approximately $0.1 million for the three months ended March 31, 2017, compared to approximately $0.002 million for the three months ended March 31, 2016, an increase of approximately $0.1 million. Production taxes per BOE increased to $1.68 per BOE during the three months ended March 31, 2017 from $1.08 during the three months ended March 31, 2016.

Statement of Operations for Three Months Ended March 31, 2017

Operations Update

Permian Basin Acquisition: Lea County, NM

In April 2017, the Company completed the acquisition of 640 net leasehold acres in Lea County, New Mexico, through a highly accretive farm-in opportunity. The transaction gives Lilis an expanded footprint in Lea County, where the Company currently operates one well. Lilis plans to drill two wells on this acreage in the second quarter of 2017. Including the farm-in, Lilis has increased its leasehold position in the Delaware Basin from approximately 5,700 net acres to over 10,000 net acres since January 1, 2017, representing an increase of over 76%. Lilis expects to continue building its position in the Delaware Basin to effectively meet and exceed internal development goals.  

Delaware Basin Well Results:

Lilis recently drilled and completed its first two operated horizontal Wolfcamp B wells, the Bison #1H and the Grizzly #1H, with IP rates exceeding initial internal projections.  Lilis successfully completed its third operated horizontal Wolfcamp B well, the Hippo #1H, and is scheduled to complete its fourth operated Wolfcamp B horizontal well, the Lion #1H, this week. Lilis recently spudded its fifth operated well, the Wildhog BWX State Com #1H. Highlights of Lilis's well results are as follows:

Currently on Production:
*BOE/D based on three stream production to account for liquids rich gas uplift.

• The Bison #1H IP30 rate of 2,144 BOE/D – 74% Liquids
• The Bison #1H IP60 rate of 1,576 BOE/D – 74% Liquids
  The Bison #1H was turned to sales on January 19, 2017 and had a 24-hour rate of 2,375 BOE/D (75% liquids) or 344 BOE/D per 1,000 lateral ft.
  
• The Grizzly #1H IP30 rate of 1,323 BOE/D – 63% Liquids
• The Grizzly #1H IP60 rate of 1,016 BOE/D – 63% Liquids
  The Grizzly #1H was turned to sales on February 9, 2017 and had a 24-hour rate of 1,666 BOE/D (65% liquids) or 406 BOE/D per 1,000 lateral ft.

Currently Completed:

• The Hippo #1H
  The Hippo #1H was successfully fracture stimulated in 20 stages. The fracture fluid was slick water with sand loading at approximately 2,200 lbs./ft. 100% of the planned job was successfully placed in the formation. Total treated lateral length was 4,105 ft. The Hippo #1H initiated well testing on April 15, 2017.

Drilled with Completion Pending:

• The Lion #1H
  The Lion #1H is scheduled for completion on May 18, 2017. Planned completion for this well is 27 stages, 150 ft. plug to plug spacing, and 2,200 lbs./ft. sand loading. Projected treatable lateral is approximately 4,025 ft.

Currently Drilling:

• The Wildhog BWX State Com #1H
  Current operations are drilling ahead on this new drill at approximately 9,010 ft. MD. Planned total depth for this well is approximately 17,086 ft. MD. Projected treatable lateral is approximately 4,400 ft.

About Lilis Energy, Inc.
Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is over 10,000 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, April 26, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NASDAQ: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced that its common stock has been approved for listing on the NYSE MKT. The Company's common stock is expected to begin trading on NYSE MKT under its current symbol "LLEX," beginning at the open of market trading on May 9, 2017. In connection with the listing of its common stock on the NYSE MKT, Lilis intends to terminate the listing of its common stock on NASDAQ. The Company intends to file with SEC a Form 25 related to the delisting from NASDAQ prior to or at the commencement of trading on the NYSE MKT, and the delisting will be effective ten days after the filing of the Form 25.

"Uplisting to the NYSE MKT follows our recent $140 million of financings and highlights the rapid progress our management team and Board have made in executing on the strategic vision laid out a year ago," said Avi Mirman, Lilis's Chief Executive Officer.

John Tuttle, Global Head of Listings at NYSE, commented: "We are delighted to welcome Lilis Energy, which is transferring to NYSE MKT and joining some of the world's best listed energy companies. We look forward to providing Lilis with the unique benefits of our market model, unrivalled brand platform and exceptional market quality delivered by our NYSE MKT designated market makers."

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is over 10,000 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, April 14, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NASDAQ: LLEX) ("Lilis") today announced it has appointed the accounting and consulting firm BDO USA, LLP, the world's fifth largest international accounting and consulting organization, to act as its new independent registered public accountant, effective April 13, 2017, replacing Marcum LLP.

Joe Daches, CFO of Lilis Energy said: "We chose BDO for its strong reputation and expertise within the oil and gas industry.  Furthermore, we believe BDO has the size and capabilities necessary to support our projected growth.  We look forward to working with BDO."

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis Energy's primary business objective is to increase its Delaware Basin leasehold position, reserves, production and cash flows at attractive rates of return on invested capital in order to enhance shareholder value. For more information, please contact CORE IR: (516) 222-2560 or visit www.lilisenergy.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our future growth and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, April 3, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NASDAQ: LLEX) ("Lilis") announces the following highlights:

• DJ Asset Divestiture
• Current Delaware Basin leasehold over 8,000 net acres
• December exit rate expected between 5,000 – 5,300 net boepd

Well Results and Operational Highlights:

Lilis recently drilled and completed its first two operated horizontal Wolfcamp B wells with IP rates exceeding internal projections. Lilis successfully completed its third operated horizontal well, the Hippo #1H and recently spudded a fourth operated horizontal well, the Lion #1H (both Wolfcamp B wells).  The highlights of Lilis' well results are as follows:

Currently on Production ⁽¹⁾:

• The Bison #1H IP30 rate of 2,144 Boepd (74% Liquids)
  The Bison #1H was turned to sales on January 19, 2017 and had a 24-hr rate of 2,375 Boepd (75% liquids) or 344 Boepd per 1,000' lateral feet.
• The Grizzly #1H IP30 rate of 1,323 Boepd (63% Liquids)
  The Grizzly #1H was turned to sales on February 9, 2017 and had a 24-hr rate of 1,666 Boepd (65% liquids) or 406 Boepd per 1,000' lateral feet.

(1) - Boepd based on three stream production to account for liquids rich gas uplift

Currently Completed:

• The Hippo #1H
  The Hippo #1H was successfully fracture stimulated in 20 stages. The fracture fluid was slick water with sand loading at ~2,200 lbs/ft. 100% of the planned job was successfully placed in the formation. The Hippo #1H is expected to start well testing Mid-April.

Currently Drilling:

• The Lion #1H
  Currently drilling ahead on this re-entry. Current operations are drilling the curve at ~ 10,039 ft MD. Planned TD for this well is ~16,580 ft MD. Projected treatable lateral is ~4,105 ft.

DJ Asset Divestiture

On March 31, 2017, Lilis completed the divestiture of all its oil and gas properties located in the DJ Basin for a gross purchase price of $2 million.  This divestiture completes Lilis' transformation to a pure play Permian Basin company.

Lease Acquisition Update

Lilis continues to aggressively seek opportunities to enhance its position in the Delaware Basin, and has increased its leasehold position from the initial acquisition footprint of approximately 3,500 net acres to over 8,000 net acres, representing an increase of over 125%.  Lilis expects to continue to build on its position in the Delaware Basin to effectively meet and exceed its development goals.  

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis Energy's primary business objective is to increase its Delaware Basin leasehold position, reserves, production and cash flows at attractive rates of return on invested capital in order to enhance shareholder value. For more information, please contact CORE IR: (516) 222-2560 or visit www.lilisenergy.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

Readers are cautioned that initial production rates are subject to decline over time and should not be regarded as reflective of sustained production levels. In particular, production from horizontal drilling in shale oil and natural gas resource plays and tight natural gas plays that are stimulated with extensive pressure fracturing are typically characterized by significant early declines in production rates.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, March 10, 2017 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced that its common stock has been approved to begin trading on The Nasdaq Capital Market ("NASDAQ"). The Company expects its common stock will continue trading under its existing symbol "LLEX" at the open of trading on March 14, 2017.

"Our listing on NASDAQ is a major corporate milestone for our company and a testament to the significant turnaround we have made over the past year," stated Avi Mirman, CEO. "We believe that listing on NASDAQ will help broaden our shareholder base, increase our appeal to institutional investors, provide us with better liquidity, and ultimately contribute to increasing shareholder value. We look forward to our uplisting and are excited about the next chapter of our company's development."

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis Energy's primary business objective is to increase our Delaware Basin leasehold position, reserves, production and cash flows at attractive rates of return on invested capital in order to enhance shareholder value. For more information, please contact CORE IR: (516) 222-2560 or visit www.lilisenergy.com.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, March 1, 2017 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced that it has entered into a definitive securities purchase agreement to raise $20 million in a private placement of common stock and warrants exercisable for common stock.  Lilis expects to use the net proceeds from the private placement to support its 2017 Delaware Basin development program, Delaware Basin lease acquisition program, and for general corporate purposes including working capital.

Pursuant to the terms of the securities purchase agreement, Lilis has agreed to sell 5,194,805 units of the Company at a price of $3.85 per unit. Each unit will consist of one share of common stock and a warrant to purchase 0.50 shares of common stock. Each warrant has an exercise price of $4.50 and, after the second anniversary, may be subject to redemption by the Company, upon prior written notice, if the price of the Company's common stock closes at or above $6.30 for twenty trading days during a consecutive thirty trading day period.

The closing of the offering is subject to the satisfaction of customary closing conditions.

The terms of the offering also include that the Company will use its reasonable best efforts to prepare and file a registration statement under the Securities Act for the resale of the shares of common stock and the shares of common stock underlying the warrants.

Johnson Rice & Company L.L.C. and T.R. Winston & Company, LLC served as placement agents in connection with this offering, and KES 7 Capital Inc. acted as advisor to the Company.

The securities to be sold in the private placement will not have been registered under the Securities Act of 1933, as amended, or state securities laws as of the time of issuance and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements. 

The Securities and Exchange Commission has not passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials.

The securities are subject to legal restrictions on transfer and resale and investors should not assume they will be able to resell their securities. Investing in the securities involves risk, and investors should be able to bear the loss of their investment.

Additional details about the Company, including the Company's Corporate Presentation, are available for viewing at www.lilisenergy.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been approved or disapproved by any regulatory authority.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CORE IR: (516) 222-2560 or visit www.lilisenergy.com.

SOURCE Lilis Energy, Inc.

SAN ANTONIO, Jan. 31, 2017 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) announced today it has appointed Brennan Short as Chief Operating Officer. Mr. Short is a petroleum engineer with 20 years of domestic oil and gas exploration and production operations, field supervision, management and petroleum engineering consulting experience.

Prior to joining Lilis Energy, Mr. Short worked for EOG Resources, SM Energy, Burlington Resources, Conoco, and Fina Oil & Chemical Co. in various operations and field positions. Mr. Short earned his bachelor's degree in Petroleum Engineering from Texas A&M University.

"We are pleased to welcome Brennan to the Lilis Energy management team as our Chief Operating Officer. Brennan is already very familiar with our assets given that he has been our contract drilling and completions engineer and field operations supervisor for several months now. He has demonstrated substantial proficiency in drilling our first two wells, has meaningfully improved field operations, and has been skillfully managing our internal team of engineers, geologists, and field staff. His extensive expertise in the Permian Basin is a big win for us," said Avi Mirman, CEO of Lilis Energy.

"Lilis Energy is an exciting company with tremendous promise and I am thrilled to join the accomplished management team. I look forward to contributing my expertise and talents in realizing Lilis Energy's full potential," said Mr. Short.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 5,600 acres, and total net acreage in the DJ is approximately 7,200 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CORE IR : (516) 222-2560 or visit www.lilisenergy.com.

SOURCE Lilis Energy, Inc.

DENVER, Jan. 25, 2017 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) announced today the appointment of Joseph C. Daches, CPA, as its new Executive Vice President, Chief Financial Officer and Treasurer.  Mr. Daches has over 20 years of experience and expertise in directing strategy, accounting and finance in primarily small and mid-size oil and gas companies. 

Prior to joining Lilis Energy Inc., Mr. Daches held the position of CFO at Magnum Hunter Resources ("MHR") where he concluded his tenure by successfully guiding MHR through a restructuring and upon emergence was appointed Co-CEO by the new Board of Directors.  Mr. Daches has helped guide several oil and gas companies through financial strategy activities, capital raises, and both public and private offerings.  Mr. Daches possesses significant business experience and knowledge related to the oil and gas industry, including A&D transactions, oil and gas reporting, SEC reporting, corporate governance and compliance, budgeting and business valuations. He holds a Bachelor of Science in accounting and is a licensed CPA in Texas.

"We are pleased to welcome Mr. Daches to the Lilis Energy management team and look forward to capitalizing on his extensive experience and background to help Lilis Energy achieve our expansive growth strategies and goals," said Avi Mirman, CEO of Lilis Energy.

"I am excited to join Lilis Energy at this pivotal point in the company's development. I am confident that my expertise and experience will steer Lilis Energy's corporate strategy in a manner that maximizes shareholder value and maintains solid corporate governance," said Mr. Daches.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 5,300 acres, and total net acreage in the DJ is approximately 7,200 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CORE IR : (516) 222-2560 or visit www.lilisenergy.com.

SOURCE Lilis Energy, Inc.

DENVER, Jan. 23, 2017 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced that Avi Mirman, CEO of Lilis Energy, will be a featured presenter at the NobleCon13 - Noble Capital Markets' Thirteenth Annual Investor Conference at the Boca Raton Resort & Club in Boca Raton, Florida, on Monday, January 30, 2017 at 12:30pm Eastern Standard Time in Room 4.

About Noble Capital Markets, Inc.

Noble Capital Markets, established in 1984, is an equity-research driven, full-service, investment & merchant banking boutique focused on the healthcare, media & entertainment, technology and natural resources sectors. The company has offices in Boca Raton, New York and Boston. In addition to NobleCon - the annual multi-sector investor conference and the Media, Finance & Investor Conference, produced in partnership with the National Association of Broadcasters (NAB) and held each spring in Las Vegas, throughout the year Noble hosts numerous "non-deal" corporate road shows across the United States and Canada. Members: FINRA, SIPC, MSRB. www.noblecapitalmarkets.com

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 5,300 acres, and total net acreage in the DJ is approximately 7,200 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com.

SOURCE Lilis Energy, Inc.

DENVER, Dec. 1, 2016 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced that Ron Ormand, Executive Chairman of Lilis Energy, will be a featured presenter at the Capital One Securities 11th Annual Energy Conference, in New Orleans, Louisiana, on Thursday, December 8, 2016, at 9:40am.

Mr. Ormand will be available for one-on-one meetings throughout the day. For more information on the conference or to schedule a meeting with Mr. Ormand, please visit http://www.meetmax.com/sched/event_38677/~public/conference_home.html

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 5,300 acres, and total net acreage in the DJ is approximately 7,200 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com.

SOURCE Lilis Energy, Inc.

DENVER, Nov. 7, 2016 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) (the "Company" or "Lilis") today announced additional bolt-on acreage in Winkler County, Texas. The Company added approximately 860 net contiguous acres, further expanding its Delaware Basin footprint. Since its merger with Brushy Resources, Inc., Lilis has increased its Delaware Basin acreage position by 53%, bringing its total Delaware Basin acreage to approximately 5,300 net acres. Lilis intends to continue to seek additional bolt-on acreage on a highly selective basis.

The Company also provided a drilling update. The Bison #1H has been drilled to total depth of 19,600 feet, which represents a frackable lateral length of 6,560 feet. The rig is currently moving to the next Wolfcamp Re-Entry location, the Grizzly #1H.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 5,300 acres, and total net acreage in the DJ is approximately 7,600 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com. 

Forward Looking Statements

This press release may include or incorporate by reference "forward-looking statements" as defined by the SEC, including but not limited to statements regarding Lilis Energy's expectations, beliefs, intentions or strategies regarding the future. These statements are qualified by important factors that could cause Lilis Energy's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to Lilis Energy's ability to finance its continued exploration, drilling operations and working capital needs, and the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in Lilis Energy's reports filed with the SEC.

JP MEB 7023 POLC.

SOURCE Lilis Energy, Inc.

DENVER, Oct. 13, 2016 /PRNewswire/ -- Lilis Energy, Inc. ("Lilis" or the "Company") (OTCQB: LLEX) today reported that it has acquired certain oil and gas properties located in Winkler County, Texas, for a purchase price of $3 million (the "Properties").  The Company purchased the Properties through a sale process under Section 363 of the Bankruptcy Code. The Properties represent a 12% increase in its net Delaware Basin leashold.  The Company's net acreage in the Delaware Basin is now approximately 4,433 net acres, which represents a 28% increase since June 2016.

The Properties, which offset the Company's existing acreage position in the highly productive Delaware Basin, consist of 500 net acres and includes a 78% working interest in a producing vertical well. The well holds the lease to all depths, from surface down to 22,000 feet, including the Wolfcamp, Bone Springs, and Avalon formations. The vertical well currently produces approximately 690 net mcf per day and has estimated PV-10 PDP value of approximately $3.5 million, using current commodity prices. The Company has not yet estimated reserve potential for any further horizontal development.

"We are thrilled to have closed on this bolt-on acquisition out of bankruptcy. Through existing relationships in the field, combined with an operating presence, we have demonstrated a highly competitive advantage in securing offsetting acreage at a discount relative to surrounding basin activity," said Avi Mirman, CEO of Lilis Energy.  "Essentially, we acquired a well at a discount to its PV-10 PDP value, and as a bonus, secured 500 net acres in the Delaware Basin that are held by production. We will continue to utilize our strong cash position in a prudent manner, through a mix of further leasehold acquisition and drilling activity."

The Company today also provided an update on the drilling of its first Wolfcamp lateral, the Bison #1H. The successful kick-out from the vertical casing went as engineered. The horizontal portion is currently being drilled and is a planned 6,000 foot lateral.  Upon reaching total depth, the rig will move to drill the next Wolfcamp location, the Grizzly #1H.

The Company plans to announce its expected capital budget and drilling program in the upcoming weeks. 

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total Permian Basin acreage is 10,870 gross acres / 4,433 net acres, 92% HBP, and total net acreage in the DJ is approximately 7,200 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CoreIR: (516) 222-2560 or visit www.lilisenergy.com.

Forward Looking Statements

This press release may include or incorporate by reference "forward-looking statements" as defined by the SEC, including but not limited to statements regarding Lilis Energy's expectations, beliefs, intentions or strategies regarding the future. These statements are qualified by important factors that could cause Lilis Energy's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to Lilis Energy's ability to finance its continued exploration, drilling operations and working capital needs, and the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in Lilis Energy's reports filed with the SEC.

SOURCE Lilis Energy, Inc.

DENVER, Sept. 29, 2016 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced its entry into a debt facility with institutional and qualified purchasers whereby it may borrow up to $50 million. The debt facility provides for a three year term loan that bears interest at a fixed rate of 6.0% subject to certain conditions.  The lenders under the debt facility have initially committed to funding $31 million, of which $25 million has been received by the company.  The additional remaining availability of $19 million may be funded at future dates upon approval of the existing lenders.  Contemporaneous with the closing, the Company completed the pay off of its wholly-owned subsidiary, Brushy Resources, Inc.'s senior lender in full of approximately $5.4 million.

"This is the next step in building value for our shareholders.  This financing provides Lilis with the ability to accelerate our previously announced development program in the Delaware Basin, and further, enables us to execute on our targeted business strategy of continued acquisition and leasing in the region," announced Avi Mirman, CEO of Lilis Energy.

KES 7 Capital, Inc. and T.R. Winston & Company, LLC acted as advisors to the company.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total Permian Basin acreage is  10,330 gross acres / 3,933 net acres, 91% HBP, and total net acreage in the DJ is approximately 7,200 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com.

Forward Looking Statements

This press release may include or incorporate by reference "forward-looking statements" as defined by the SEC, including but not limited to statements regarding Lilis Energy's expectations, beliefs, intentions or strategies regarding the future. These statements are qualified by important factors that could cause Lilis Energy's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to Lilis Energy's ability to finance its continued exploration, drilling operations and working capital needs, and the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in Lilis Energy's reports filed with the SEC.

SOURCE Lilis Energy, Inc.

DENVER, Sept. 21, 2016 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced plans to spud its first two Wolfcamp horizontal wells in the Delaware Basin. Both wells will be Re-Entry horizontal completions, which utilize existing vertical wellbores by "cutting a window" and provide the Company with significant cost savings. The Company's first well, the Bison #1H, is expected to be a 6,000 foot lateral and is targeting the Wolfcamp formation. The wellbore has been prepped and Lilis expects to commence drilling activities on or about October 1. After reaching Total Depth on the Bison #1H, the Company plans for the rig to move directly to the next Wolfcamp Re-Entry location, the Grizzly #1H.

After the conclusion of the drilling of the first two wells, the company plans to move forward with the completion phase. The Bison #1H will be targeting a planned proppant placement of 2,200 pounds per foot across 33 frac stages. The Company expects to announce initial test results before the end of the year.

The spudding of the Company's first two Wolfcamp wells commences the 12 well Re-Entry horizontal development program targeting the Wolfcamp, Bone Springs and Avalon formations planned over the next 18 months.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 3,800 acres, and total net acreage in the DJ is approximately 7,600 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com.

Forward Looking Statements

This press release may include or incorporate by reference "forward-looking statements" as defined by the SEC, including but not limited to statements regarding Lilis Energy's expectations, beliefs, intentions or strategies regarding the future. These statements are qualified by important factors that could cause Lilis Energy's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to Lilis Energy's ability to finance its continued exploration, drilling operations and working capital needs, and the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in Lilis Energy's reports filed with the SEC.

SOURCE Lilis Energy, Inc.

DENVER, Sept. 20, 2016 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced that Ron Ormand, Executive Chairman of Lilis Energy, will present the Company's business model and growth initiatives at the Johnson Rice & Company 2016 Energy Conference on September 21 -22, 2016, in one-on-one meetings, taking place at the Ritz-Carlton, New Orleans, Louisiana. For more information on the conference and to schedule a meeting with Mr. Ormand, please contact the conference via: http://www.jrco.com/news-current-events

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 3,800 acres, and total net acreage in the DJ is approximately 7,600 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com.

SOURCE Lilis Energy, Inc.

DENVER, Aug. 12, 2016 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) announced today that Avi Mirman, CEO and Director, will be a featured presenter at at EnerCom's The Oil & Gas Conference® 21 on Tuesday, August 16, 2016 at 2:20pm MDT, at the Westin Denver Downtown Hotel.

Mr. Mirman will provide an overview of the company's operations, recent developments and growth strategy and will be available for one-on-one meetings Monday August 15, 2016, through Wednesday August 17, 2016.

The presentation will be webcast live over the internet and may be accessed, along with the accompanying slides, at http://www.theoilandgasconference.com/togc-webcast/llex/. The presentation will also be posted to the Company's website at http://www.lilisenergy.com.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 3,800 acres, and total net acreage in the DJ is approximately 7,600 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com.

Forward Looking Statements

This press release may include or incorporate by reference "forward-looking statements" as defined by the SEC, including but not limited to statements regarding Lilis Energy's expectations, beliefs, intentions or strategies regarding the future. These statements are qualified by important factors that could cause Lilis Energy's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to Lilis Energy's ability to finance its continued exploration, drilling operations and working capital needs, and the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in Lilis Energy's reports filed with the SEC.

SOURCE Lilis Energy, Inc.

DENVER, Aug. 11, 2016 /PRNewswire/ -- Lilis Energy, Inc. (OTCQB: LLEX) today announced the appointment of Joe Pawelek as Vice President of Corporate Finance and Investor Relations. The Company also announced it has engaged CorProminence LLC as its investor relations firm of record. Mr. Pawelek brings to his role at Lilis Energy exemplary experience across a variety of roles from finance and financial reporting, to preparing and assessing reserves and capital budgeting, to M&A and valuation. Prior to joining Lilis Energy, Mr. Pawelek served as Associate and Head of Business Development at Brushy Resources, Inc. since 2012. Prior to his employment with Brushy Resources, Mr. Pawelek enjoyed a career in the NFL, playing linebacker for the  Seattle Seahawks and the Jacksonville Jaguars, after a decorated collegiate career. Mr. Pawelek earned a degree from Baylor University with a Bachelor of Business Administration in Finance and  Economics and a Masters in Business Administration from The University of Texas at San Antonio.

"I am excited to be joining the Lilis Energy team at such a crucial stage of the company.  Our goals are to attain exceptional results and build strong shareholder value," said Mr. Pawelek. "I look forward to contributing to our success with an engaging strategic approach that will serve our shareholders to provide transparency and a better understanding of our company," he added.

"On behalf of the entire Lilis organization I am delighted to welcome Joe to our team. Now that the merger is behind us, it is time to provide consistent updates to the market and engage in continous communications with our shareholders," said Avi Mirman, CEO and Director of Lilis Energy. " Given Joe's intimate knowledge of the acquisition assets, and his background in finance and energy, we couldn't be happier with our new voice to the markets," Mr. Mirman concluded.

As Lilis Energy's Investor Relations firm of record, CorProminence will focus on expanding strategic market awareness and support shareholder communications for Lilis Energy, conveying the Company's key messages to the institutional and retail investment communities. CorProminence is a leading boutique investor relations firm, specializing in leveraging the most effective investment, growth and exposure strategies for small to mid-sized companies through an integrated approach to relationship development and shareholder communications.

"Our entire CorProminence team is thrilled to join Lilis Energy in support of their expansive investor relations needs. Our unique, integrated approach to investor outreach and shareholder commmunications will bring our industry leading best practices in market outreach and investor awareness to create practical, lasting value," said Scott Gordon, President of CorProminence. "Our team of investor relations professionals brings a collective expertise that spans the breadth of the investment spectrum and will serve to complement Lilis Energy's impressive growth strategy with a strong track record of broad-based competence and results," he concluded.

"We chose CorProminence from a competitive field of firms for their unique, results-driven approach to delivering exceptional investor relations services, which will significantly enhance our communications outreach in effectively communicating our business model and growth strategy and raise awareness of Lilis Energy within the investment communities" said Avi Mirman, CEO and Director of Lilis. "We are eager to work with the entire CorProminence team in carrying forward our message," he added.

About Lilis Energy, Inc.

Lilis Energy, Inc. is a Denver-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 3,800 acres, and total net acreage in the DJ is approximately 7,600 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please contact CorProminence LLC: (516) 222-2560 or visit www.lilisenergy.com.

Forward Looking Statements

This press release may include or incorporate by reference "forward-looking statements" as defined by the SEC, including but not limited to statements regarding Lilis Energy's expectations, beliefs, intentions or strategies regarding the future. These statements are qualified by important factors that could cause Lilis Energy's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to Lilis Energy's ability to finance its continued exploration, drilling operations and working capital needs, and the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in Lilis Energy's reports filed with the SEC.

SOURCE Lilis Energy, Inc.