Miller Energy Holds Annual Shareholders Meeting

Miller Energy Holds Annual Shareholders Meeting 
KNOXVILLE, TN -- (Marketwired) -- 04/17/14 --  Miller Energy
Resources, Inc. (NYSE: MILL) announced today that its shareholders
have voted to elect eight directors to the company's Board of
Directors, ratify the selection of KPMG LLP as the company's
independent registered public accounting firm, approve a proposed
amendment to the company's 2011 Equity Compensation Plan, approve the
company's executive compensation on an advisory basis, and voted to
hold future advisory votes on executive compensation every three
years. The final results of the voting were tallied and announced at
the company's annual meeting of shareholders held Wednesday, April
16, 2014.  
Shareholders had the opportunity to discuss the company's direction,
operations, future plans, and to provide general feedback directly to
Miller's Board of Directors. 
"Miller shareholders are clearly passionate about the company, as
evidenced by today's healthy discourse. It is our common belief that
there is exceptional value here and I am excited to see it fully
realized. To that end, I am committed to playing a meaningful role,"
said Dr. Bob G. Gower, who was elected as Miller's Lead Independent
Director by the Miller's Board of Directors later that same day.  
Dr. Gower, the Founder and current Chairman of Ensysce Biosciences,
Inc., has more than 50 years of business and senior management
experience across a range of industries, including energy, chemical,
and technology. He is the former Chief Executive Officer of Lyondell
Petrochemical Company and serves on the Board of Directors of Kirby
Corporation.  
"We are a stronger company than we have ever been and we expect
Fiscal 2015 will see continued value creation," said Scott M. Boruff,
Miller's CEO. "We believe all the necessary pieces are in place:
access to favorable financing, promising drilling targets, greater
wellbore diversification, and a favorable Alaskan tax environment."  
At the meeting, shareholders elected the following directors for a
one-year term:  


 
--  Deloy Miller - Executive Chairman of the Board of Miller Energy
    Resources
--  Scott M. Boruff - CEO of Miller Energy Resources
--  Dr. Bob G. Gower - Founder and Chairman of Ensysce Biosciences, Inc.
--  Gerald E. Hannahs - Private Investor
--  Joseph T. Leary - CFO at Tarpon Operating & Development, LLC
--  William B. Richardson - Former Governor of New Mexico and Former
    Secretary of Energy under President Clinton
--  Marceau N. Schlumberger - Founder and Principal at Coral Reef Capital
--  Charles M. Stivers - Charles M. Stivers, C.P.A.

  
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 prolific and hydrocarbon-rich Appalachian Basin including
the Mississippian Lime and the 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. 
Statements Regarding Forward-Looking Information
 Certain statements
in this press release and elsewhere by Miller Energy Resources, Inc.
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve the implied assessment that the resources
described can be profitably produced in the future, based on certain
estimates and assumptions. Forward-looking statements are based on
current expectations, estimates and projections that involve a number
of risks, uncertainties and other factors that could cause actual
results to differ materially from those anticipated by Miller Energy
Resources, Inc. and described in the forward-looking statements.
These risks, uncertainties and other factors include, but are not
limited to, the potential for Miller Energy to experience additional
operating losses; high debt costs under its existing senior credit
facility; potential limitations imposed by debt covenants under its
senior credit facility on its growth and ability to meet business
objectives; the need to enhance management, systems, accounting,
controls and reporting performance; uncertainties related to the
filing of its Form 10-K for 2011; litigation risks; its ability to
perform under the terms of its oil and gas leases, and exploration
licenses with the Alaska DNR, including meeting the funding or work
commitments of those agreements; its ability to successfully acquire,
integrate and exploit new productive assets in the future; its
ability to recover proved undeveloped reserves and convert probable
and possible reserves to proved reserves; risks associated with the
hedging of commodity prices; its dependence on third party
transportation facilities; concentration risk in the market for the
oil we produce in Alaska; the impact of natural disasters on its Cook
Inlet Basin operations; adverse effects of the national and global
economic downturns on our profitability; the imprecise nature of its
reserve estimates; drilling risks; fluctuating oil and gas prices and
the impact on results from operations; the need to discover or
acquire new reserves in the future to avoid declines in production;
differences between the present value of cash flows from proved
reserves and the market value of those reserves; the existence within
the industry of risks that may be uninsurable; constraints on
production and costs of compliance that may arise from current and
future environmental, FERC and other statutes, rules and regulations
at the state and federal level; the impact that future legislation
could have on access to tax incentives currently enjoyed by Miller;
that no dividends may be paid on its common stock for some time;
cashless exercise provisions of outstanding warrants; market overhang
related to restricted securities and outstanding options, and
warrants; the impact of non-cash gains and losses from derivative
accounting on future financial results; and risks to non-affiliate
shareholders arising from the substantial ownership positions of
affiliates. Additional information on these and other factors, which
could affect Miller's operations or financial results, are included
in Miller Energy Resources, Inc.'s reports on file with United States
Securities and Exchange Commission including its Annual Report on
Form 10-K, as amended, for the fiscal year ended April 30, 2013.
Miller Energy Resources, Inc.'s actual results could differ
materially from those anticipated in these forward-looking statements
as a result of a variety of factors, including those discussed in its
periodic reports that are filed with the Securities and Exchange
Commission and available on its Web site (www.sec.gov). All
forward-looking statements attributable to Miller Energy Resources or
to persons acting on its behalf are expressly qualified in their
entirety by these factors. Investors should not place undue reliance
on these forward-looking statements, which speak only as of the date
of this press release. We assume no obligation to update
forward-looking statements should circumstances or management's
estimates or opinions change unless otherwise required under
securities law. 
For more information, please contact the following: 
Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup
.us
Web: www.mzgroup.us 
 
 
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