Saratoga Resources Addresses Status of Interest Payments on Outstanding Debt
January 14 2015 - 4:01PM
Business Wire
Saratoga Resources, Inc. (NYSE MKT: SARA; the “Company” or
“Saratoga”) announced that it has received various inquiries
regarding interest payments mistakenly credited to certain debt
holder accounts and subsequently reversed.
The interest payments scheduled to be made on December 31, 2014
and January 1, 2015 were not made on those dates. However, the
interest payments are not in default under the applicable
indentures until 30 days after the scheduled payment dates.
About Saratoga Resources
Saratoga Resources is an independent exploration and production
company with offices in Houston, Texas and Covington, Louisiana.
Principal holdings cover approximately 52,000 gross/net acres,
mostly held by production, located in the transitional coastline
and protected in-bay environment on parish and state leases of
south Louisiana and in the shallow Gulf of Mexico Shelf. Most of
the company's large drilling inventory has multiple pay objectives
that range from as shallow as 1,000 feet to the ultra-deep
prospects below 20,000 feet in water depths ranging from less than
10 feet to a maximum of approximately 80 feet. For more
information, go to Saratoga's website at www.saratogaresources.com
and sign up for regular updates by clicking on the Updates
button.
Saratoga Resources, Inc.Brad Holmes, (713) 654-4009Investor
RelationsorAndrew Clifford, (713)
458-1560Presidentwww.saratogaresources.com