Miller Energy Resources, Inc. Announces at the Market Public Offering of Series D Preferred Stock

Marketwired

KNOXVILLE, TN--(Marketwired - Oct 18, 2013) - Miller Energy Resources, Inc. (NYSE: MILL) (the "Company") is pleased to announce that it has entered into a sales agreement (the "Sales Agreement") with MLV & Co. LLC ("MLV"), as the Company's sales agent. Under the Sales Agreement, the Company may, at its discretion and from time to time, sell up to three million shares of the Company's 10.5% Series D Fixed Rate/Floating Rate Cumulative Redeemable Preferred Stock ("Series D Preferred Stock").

Sales of these shares of Series D Preferred Stock may be made through "at the market" offerings on the New York Stock Exchange LLC ("NYSE") at the market price prevailing at the time of each sale, and, as a result, prices may vary. The Company will pay MLV compensation equal to 3.0% of the gross proceeds of all shares of Series D Preferred Stock sold under the Sales Agreement.

The offering will be made pursuant to the Company's existing effective shelf registration statement, previously filed on Form S-3 with the Securities and Exchange Commission ("SEC"), which became effective on September 18, 2012, a prospectus filed with the SEC on September 19, 2012 and a prospectus supplement filed with the SEC on October 17, 2013. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The Company plans to use the net proceeds from the offering for general corporate purposes. To the extent we are prohibited under our senior secured credit facility from paying dividends due in connection with the December 1, 2013 dividend payment date on our Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock from any other source, we may use certain equity proceeds for that purpose, which might include proceeds from this offering.

Copies of the prospectus and accompanying prospectus supplement relating to these securities may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by contacting: MLV & Co. LLC, 1251 Avenue of the Americas, New York, NY 10020, Attention: Randy Billhardt, Email: rbillhardt@mlvco.com; Telephone: (212) 542-5882.

About Miller Energy Resources

Miller Energy Resources, Inc. is an oil and natural gas exploration, production and drilling company operating in multiple exploration and production basins in North America. Miller's focus is in Cook Inlet, Alaska and in the heart of Tennessee's Appalachian Basin including the Mississippian Lime and Chattanooga Shale. Miller is headquartered in Knoxville, Tennessee with offices in Anchorage, Alaska and Huntsville, Tennessee. The company's common stock is listed on the NYSE under the symbol MILL.

Contact:
For more information, please contact the following:

MZ Group
Derek Gradwell
SVP, Natural Resources
Phone: 949-259-4995
Email: dgradwell@mzgroup.us
Web: www.mzgroup.com

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