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Thursday, 08/13/2015 11:48:31 AM

Thursday, August 13, 2015 11:48:31 AM

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American Eagle Energy Begins Voluntary Chapter 11 Proceeding


DENVER, CO -- (Marketwired) -- 05/11/15 -- American Eagle Energy Corporation (NYSE MKT: AMZG)announced today that, on Friday, May 8, 2015, it and its wholly-owned subsidiary, AMZG, Inc. (together, "American Eagle"), filed voluntary petitions in the United States Bankruptcy Court for the District of Colorado (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the Unites States Code (the "Bankruptcy Code").

American Eagle will continue to operate the business as debtors-in-possession under the jurisdiction of the Bankruptcy Court. American Eagle has filed a series of motions with the Bankruptcy Court requesting authority to continue normal operations, including requesting Bankruptcy Court authority to continue paying employee wages and salaries and providing employee benefits without interruption.

American Eagle's Chief Executive Officer and President, Brad Colby, stated: "We believe the Chapter 11 process will provide flexibility for American Eagle to pursue viable options for asset sales or other alternatives with the goal of maximizing the value of the enterprise for our stakeholders."

For access to Bankruptcy Court documents and other general information about the Chapter 11 cases, please visit http://www.cob.uscourts.gov.

American Eagle has also established a telephone hotline and email address to respond to inquiries from interested parties regarding the Chapter 11 cases. The telephone hotline is (212)-389-8910. The email address is AMZG@canaccordgenuity.com.

American Eagle's legal advisors are Baker & Hostetler LLP. Canaccord Genuity Inc. is serving as financial advisor.

About American Eagle

American Eagle Energy Corporation is an independent exploration and production operator that is focused on acquiring acreage and developing wells in the Williston Basin of North Dakota, targeting the Bakken and Three Forks shale oil formations. The Company is based in Denver, CO. Company filings with the Securities and Exchange Commission can be obtained free of charge at the SEC's website at www.sec.gov.


http://www.americaneagleenergy.com/media/press-releases/detail/386/american-eagle-energy-begins-voluntary-chapter-11-proceeding

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