Recovery Energy Gives Update on Its North Wattenberg Prospect

Recovery Energy Gives Update on Its North Wattenberg Prospect

DENVER, Oct. 30, 2013 (GLOBE NEWSWIRE) -- Recovery Energy, Inc. (Nasdaq:RECV),
an independent oil and gas exploration and production company with operations
and assets in the Denver-Julesburg Basin ("DJ Basin"), today announced that it
is participating in a horizontal well that has been drilled immediately
adjacent to its North Wattenberg prospect, located in the west half of section
34, township 7 north, range 64 west. The Richter #34M-203 has been drilled
from a pad operated by PDC Energy and targets the Niobrara "B" Bench. The
Richter #34-203 well is one of several wells being drilled in the east half of
the section from the PDC pad that will target both the Niobrara "B" Bench and
the Codell formations.Recovery does not have a working interest participation
in the additional wells that will be drilled from the PDC pad.

Under applicable Colorado Oil & Gas Conservation Commission (COGCC) rules,
Recovery Energy has been granted a working interest in the well due to the
proximity of the Richter #34-203's wellbore path to Recovery Energy's
leasehold interest in the west half of the section.The Richter 34M-203 was
drilled to a total depth of 11,812 feet; total depth was reached last week and
completion activities are planned to commence late in the 4^th quarter of
2013.

Avi Mirman, Recovery Energy's President said, "We are very excited to
participate with quality operators such as PDC conducting significant
development activities in the immediate vicinity of one of our key
assets."Mr. Mirman added that "we expect to have joint operations underway on
our half of the section during the 1^st quarter of 2014."

About Recovery Energy, Inc.

Recovery Energy, Inc. ("Recovery Energy") is a Denver-based independent oil
and gas exploration and production company that operates in the
Denver-Julesburg (DJ) Basin where it holds approximately 125,000 gross,
112,000 net acres.Recovery Energy's focus is to grow reserves and production
through a combination of acquisitions and conventional and unconventional
drilling activity, targeting the various oil-bearing formations that produce
in the DJ Basin.

Forward Looking Statements

This press release may include or incorporate by reference "forward-looking
statements" as defined by the SEC, including statements, without limitation,
regarding the Company's expectations, beliefs, intentions or strategies
regarding the future.Such forward-looking statements relate to, among other
things the Company's: (1) proposed exploration and drilling operations, (2)
expected investments, production and revenue, and (3) the Company's growth
plans potential of its properties.These statements are qualified by important
factors that could cause the Company's actual results to differ materially
from those reflected by the forward-looking statements. Such factors include
but are not limited to: (1) the Company's ability to finance its continued
exploration and drilling operations, (2) positive confirmation of the
reserves, production and operating expenses associated with the Company's
properties; and (3) the general risks associated with oil and gas exploration
and development, including those risks and factors described from time to time
in the Company's reports and registration statements filed with the SEC.

CONTACT: MDC GROUP
         Investor and Media Relations:
         414-351-9758
 
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