PostRock Announces Additional White Deer Investment

PostRock Announces Additional White Deer Investment

OKLAHOMA CITY, Dec. 18, 2012 (GLOBE NEWSWIRE) -- PostRock Energy Corporation
("PostRock" or the "Company") (Nasdaq:PSTR) today announced that its Board had
approved what is expected to be a final $13 million investment by White Deer
Energy L.P. ("White Deer"). That brings White Deer's total investment in
PostRock to $92.5 million. The investment is expected to fund on Thursday,
December 20^th. White Deer agreed to acquire 4,577,464 shares of common stock
at a price of $1.42 per share, yesterday's consolidated closing bid price.
Simultaneously, White Deer agreed to purchase $6,500,000 of 12% cumulative
redeemable preferred stock and 4,577,464 warrants to purchase common stock at
a price of $1.42 a share. The specific terms of the investment are almost
identical to White Deer's August investment. Proceeds will reduce debt.

The Company also updated the status of its hedge position. On November 27^th,
PostRock monetized the last of its preexisting 2013 NYMEX gas swaps for $15.4
million. Combined with the recent previously announced hedge monetization, a
total of $30.2 million of proceeds was realized in November. All of the
proceeds were used to reduce debt. On December 12^th, the Company entered into
new natural gas swaps covering periods from April 2013 through 2016.The
following table summarizes its current hedge position.

                                2013      2014      2015      2016
Natural Gas Hedges                                          
NYMEX Gas Swaps                                             
Volume (MMBtu)                   3,747,285 4,324,032 3,755,184 3,765,840
Weighted Average Price ($/MMBtu) $3.95     $3.95     $3.95     $3.96
Southern Star Basis Swaps                                   
Volume (MMBtu)                   9,000,003 --        --        --
Weighted Average Price ($/MMBtu) ($0.71)   --        --        --
Oil Hedges                                                  
NYMEX Oil Swaps                                             
Volume (Bbls)                    65,892    61,680    58,164    53,892
Weighted Average Price ($/Bbl)   $101.70   $97.00    $93.40    $91.10

The White Deer investment and the hedging transactions have positioned the
Company to finalize a new credit facility.That transaction is expected to
close later this week.

The PostRock Energy Corp. logo is available at

Forward-Looking Statements

Opinions, forecasts, projections and statements that are not historical facts
are forward-looking statements that involve risks and uncertainties. Such
statements in this announcement are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Although
the Company believes that expectations reflected in these statements are
reasonable, it can give no assurance they will prove correct. Actual results
may differ materially due to factors which may not be foreseen by PostRock.
These risks and others are detailed in the Company's filings with the
Securities and Exchange Commission, including risk factors listed in the
Annual Report on Form 10-K and other SEC filings. These filings may be found
at or In making forward-looking statements, the
Company undertakes no obligation to update these statements.

CONTACT: Company Contact:
         North Whipple
         Director, Finance & Investor Relations
         PostRock Energy Corporation
         (405) 702-7423

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