Saratoga Resources Announces Agreement to Purchase Harvest Oil & Gas.

AUSTIN, Texas -- Saratoga Resources, Inc. (OTCBB:SROE) today announced that it has signed a Purchase and Sale Agreement to acquire Harvest Oil & Gas, LLC.

Harvest, based in Covington, Louisiana, owns, manages and operates producing oil and gas properties in South Louisiana onshore and the state waters of the Gulf of Mexico. Harvest has existing proved reserves, as reflected in a third-party engineering report as of September 1, 2007, of 58.6 bcfe (71% gas versus oil) with PV10 value of $255 million. Harvest also has additional probable reserves of 73.8 bcfe and possible reserves of 54.4 bcfe related to these producing properties.

Under the terms of the Purchase and Sale Agreement, Saratoga will pay a purchase price for Harvest of $116,000,000, less an amount necessary to eliminate an existing net profits interest in the properties of Harvest, subject to certain possible adjustments. The purchase price will be paid approximately $88,000,000 in cash and the balance in the form of Subordinated Promissory Notes. Saratoga will separately pay the holder of the net profits interest in the Harvest properties to eliminate those net profits interests.

Regarding the planned purchase of Harvest, Thomas Cooke, Chairman and CEO of Saratoga, stated, "We are very pleased to have reached this agreement with Harvest and look forward to completing this acquisition and continuing to develop what we believe is a very promising portfolio of properties and a great first step in implementing our plan to acquire, develop and operate strategic oil and gas properties with unrealized value."

Further, Cooke stated, "Andy Clifford, our President and an industry veteran, is spearheading our acquisition plans and played an integral role in evaluating and negotiating our planned acquisition of Harvest. Andy's many years of experience in finding reserves around the world, with BHP Petroleum, Exxon and other established industry leaders, give Saratoga a valuable resource as we move toward completing the acquisition of Harvest and operation of its properties and seek additional acquisitions to drive our growth plan. With our plans to retain certain key operating personnel of Harvest, we expect that our management team, under Andy's leadership, will be able to seamlessly transition operations of Harvest and its properties."

About Saratoga Resources, Inc.

Saratoga Resources, Inc. is an energy development company directed by a team of experienced industry professionals. Saratoga's focus is on the acquisition, development and exploration of energy resources while maintaining efficient operations and high environmental standards.

The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate. Those statements, and Saratoga Resources, are subject to a number of risks, including Saratoga's ability to secure funding for the acquisition of Harvest, to satisfy the various conditions of closing the acquisition of Harvest, to successfully transition the control and operation of Harvest and its properties, to fund operational overhead, to attract and retain key personnel to support growth, and to acquire additional properties on acceptable terms or at all as well as risks generally associated with the oil and gas industry. These and other risks are described in the company's documents and reports that are available from the company and the United States Securities and Exchange Commission.