Synergy Finalizes Sale of O&G Leases

Synergy has received payment of $4,679,078 from the sale of approximately 2,384 net acres to an independent oil and gas company. The agreement was originally announced on January 14th, and in conjunction with the down payment of $565,439 represents a purchase price of $5,244,517. The 2,384 undeveloped net acres are in Weld and Morgan Counties in Colorado and Laramie County in Wyoming.

Ed Holloway, CEO of Synergy Resources Corporation, stated, "We are pleased to announce the closing of this transaction. The added additional working capital from this transaction will be invested in our core area of the Wattenberg Field."

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