Lilis Energy, Inc. announced that the Prizehog #2H, Wildhog #2H, Howell #1H and Antelope #1H have reached 24-hour initial production rates. The company's drilling program in the second half of 2018 will almost exclusively target 1.5-mile laterals. With more wells drilling and in completion and based on the success of the company drilling program to date in 2018, the company are on track to meet and exceed the company previously stated year-end exit rate of 7,500 net Boepd. Therefore, the company are raising its exit rate production guidance target to 8,000 net Boepd. The company will continue to monitor the company exit rate guidance throughout 2018 as the company are confident of meeting and exceeding the company revised target. PRIZEHOG #2H - Wolfcamp A: Lilis' first Wolfcamp A, Highest IP 24-hour rate recorded by the Company in New Mexico. The Prizehog #2H reached an IP 24 rate of 1,825 Boepd (76% liquids), on a three-stream basis, equivalent to 411 Boepd per 1,000 ft. The Prizehog #2H was completed as a 4,720 ft. lateral with 24 stages using 195 ft. plug-to-plug spacing and approximately 2,040 lbs. of sand per ft. WILDHOG #2H - Wolfcamp XY: First XY well drilled on Lilis' property in New Mexico, Further delineates New Mexico acreage. The Wildhog #2H reached an IP 24 rate of 1,756 Boepd (55% liquids), on a three-stream basis, equivalent to 386 Boepd per 1,000 ft. The Wildhog #2H was completed as a 4,567 ft. lateral with 23 stages using 200 ft. plug-to-plug spacing and approximately 1,837 lbs. of sand per ft. HOWELL #1H - Wolfcamp XY: Farthest eastern well drilled on Lilis' Texas property, Continued validation of eastern acreage and XY Bench. The Howell #1H reached an IP 24 rate of 1,401 Boepd (49% liquids), on a three-stream basis, equivalent to 350 Boepd per 1,000 ft. The Howell #1H was completed as a 4,002 ft. lateral with 20 stages using 200 ft. plug-to-plug spacing and approximately 1,354 lbs. of sand per ft. ANTELOPE #1H - Third Bone Spring: First Bone Spring well, Further delineation of eastern acreage in new zones. The Antelope #1H reached an IP 24 rate of 1,309 Boepd (53% liquids), on a three-stream basis, equivalent to 235 Boepd per 1,000 ft. The Antelope #1H was completed as a 5,560 ft. lateral with 28 stages using 200 ft. plug-to-plug spacing and approximately 1,584 lbs. of sand per ft. Lilis' 2018 drilling program is focused on the delineation of the Company's acreage. Lilis will continue to further de-risk multiple benches as well as its eastern acreage. The company continues to develop additional technical data. Including finalizing log interpretations, in conjunction with third party providers, from the pilot well test in the Howell #1H, and acquiring and analyzing additional seismic data across its acreage. Current Activities: Drilling: East Axis #2H: Wolfcamp A – 1 ½ mile lateral, Tiger #3H: Bone Spring – 1 ½ mile lateral. Completing: West Axis #1H: Wolfcamp B – 1 ½ mile lateral. Flowback: AG Hill #2H: Bone Spring – Eastern well, Moose #1H: Wolfcamp A – 1 ½ mile lateral.

Lilis also announced that it is raising its year-end exit rate production guidance to 8,000 net Boepd from 7,500 net Boepd and will continue evaluating further potential increases as additional well data is received.