Lilis Energy, Inc. announced third quarter well results and production results for the third quarter ended September 30, 2018. Company has effectively drilled and completed 7 horizontal wells in Wolfcamp A, B, and 2nd and 3rd Bone Spring formations. The Company has effectively drilled and completed 24 horizontal wells to date. The Company continues the strategy of delineating and de-risking its acreage position, further validating the strength of its Delaware Basin position. Recent operational results for the third quarter ended September 30, 2018 are as follows:Moose #1H – Lower WCA: Lilis' first 1.5-mile Wolfcamp A well drilled to date, with initial performance tracking the Bison 1H (which accumulated over 180,000 barrels of oil in its first year) prior to decreasing choke size due to facility constraints 24-hour rate of 1,691 Boepd (72% liquids) or 232 Boepd per 1,000 lateral ft. IP30 rate 1,035 Boepd - 72% Liquids. IP60 rate 908 Boepd - 71% Liquids. AG Hill #2H – 2nd Bone Spring: The first 2nd Bone Spring well drilled by Lilis in connection with the delineation of the Bone Springs. 24-hour rate of 845 Boepd (77% liquids) or 186 Boepd per 1,000 lateral ft. (Well shut-in due to facility upgrading, expected online in October). West Axis #1H – WCB: Lilis' second 1.5-mile Wolfcamp B well drilled to date, with initial performance tracking the Bison 1H. 24-hour rate of 1,571 Boepd (82% liquids) or 202 Boepd per 1,000 lateral ft. Prizehog #2H – WCA: The first Wolfcamp A well drilled by Lilis in New Mexico, registering the highest IP 24 the Company has completed in New Mexico to date 24-hour rate of 1,825 Boepd (77% liquids) or 411 Boepd per 1,000 lateral ft. IP30 rate 1,436 Boepd - 77% Liquids. IP60 rate 1,270 Boepd - 76% Liquids IP90 rate 1,116 Boepd - 76% LiquidsAntelope #1H – 3rd BS: The first Bone Spring well drilled by Lilis in Texas, completed in the 3rd Bone Spring, confirming another viable.

In the third quarter ended September 30, 2018, company average actual daily production was 5,937 Boepd. As of October 23, 2018, production is approximately 6,500 – 7,000 Boepd available for sales and estimated daily production capacity is approximately 7,500 – 8,000 Boepd.

The company is maintaining its 2018 target exit rate of 8,000 Boepd at this time while curtailments are being resolved. Moreover, the Company still expects significant increases in production from ongoing drilling program and longer lateral developments to be realized in the fourth quarter.