Armada Oil, Inc. (the "Company") (OTCBB:AOIL), an oil and gas exploration and production company, reported today on its current financing initiative as well as its ongoing operational activities.

The Company's executive management team is working diligently to complete an all-inclusive financing package that would not only allow for significant new development in the Company's south Louisiana fields but would also provide capital to initiate drilling activities in both its Oklahoma and Wyoming project areas. The Company expects to close this financing initiative in late November 2013 and to initiate new development activities in the Lake Hermitage Field shortly thereafter. Drilling in the Oklahoma and Wyoming project areas is expected to begin as soon as final land title review, location selection and well planning allow.

Operations in the fields in south Louisiana were not significantly impacted by the recent tropical storm and production is holding steady at approximately 550 net BOE per day. The significant increase in capital availability that is expected to come from the financing package referenced above would be highly beneficial in that it would give the Company the ability to develop its proved reserves in its south Louisiana fields at a much faster rate than would result from financing the work solely out of cash flow.

"Confidentiality agreements prevent us from providing additional details at this time, but we are aggressively working toward the completion of this financing initiative and expect to be able to share a substantial amount of additional information in a matter of weeks," said Randy M. Griffin, CEO of Armada Oil, Inc. "Our technical team is planning and making preparations for the expected development activities in south Louisiana. This team is also actively involved in title review, location selection and well planning for drilling activities in Oklahoma and Wyoming so that we will be ready to begin drilling when the capital becomes available." added Mr. Griffin.

About Armada Oil, Inc.

Armada Oil, Inc. (OTCBB:AOIL), headquartered in Dallas, Texas, is a growth-oriented oil and gas Exploration and Production (E&P) company with a focus on growing reserves and net asset value per share, primarily through the acquisition, development and enhancement of multiple onshore oil and natural gas producing properties as well as the development of highly diversified developmental drilling opportunities, both conventional and unconventional. The Company currently has producing oil properties in Plaquemines and Lafourche Parishes in Louisiana. In addition, the Company has developmental properties in Garfield and Major Counties, OK and Wyoming County, NY and controls a strategic acreage position in southern Wyoming in the liquids-rich Niobrara Play.

More information about Armada Oil may be found at http://www.armadaoil.us.

Forward-Looking Statements

Certain statements in this news release, which are not historical facts, are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors which may be beyond the reasonable control of the Company, including, but not limited to, the Company's ability to locate and acquire suitable interests in oil and gas properties on terms acceptable to the Company, the availability and pricing of additional capital to finance operations and leasehold acquisitions, the ability of the Company to build and maintain a successful operations infrastructure, the Company's ability to integrate acquired assets, the intensity of competition and changes and volatility in energy prices. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in the filings of the Company with the U.S. Securities and Exchange Commission at www.sec.gov.

Armada Oil Inc.
972-490-9595
ir@armadaoil.us