Saratoga Resources, Inc. Completes Acquisition of Harvest Companies for Cash and Stock

Saratoga Resources, Inc. (OTCBB: SROE) today announced that it has completed the acquisition of Harvest Oil & Gas, LLC and The Harvest Group, LLC (together, "Harvest").

Under the terms of the acquisitions, Saratoga paid an aggregate of $105,683,000 in cash and issued 4,900,000 shares of Saratoga common stock for 100% of ownership of both Harvest companies. Pursuant to the terms of the acquisitions, a portion of the cash paid was applied to retire all existing bank debt of Harvest and a portion of the cash paid and shares of stock issued were applied to eliminating an existing net profits interest in Harvest´s properties.

Based in Covington, Louisiana, Harvest owns, manages and operates producing oil and gas properties in South Louisiana onshore and the state waters of the Gulf of Mexico. Proved reserves of Harvest totaled 67.3 bcfe (66% gas versus oil) based on a January 1, 2008 third–party engineering report. Average daily net production of Harvest for May 2008 was 1,656 bopd and 4,467 mcfgpd, or 2,401 boepd (31% gas versus oil).

Financing for the Harvest acquisition was provided through a $97.5 million second lien senior note facility and a $25 million first lien senior revolving credit facility. Pursuant to the terms of the second lien note facility, Saratoga issued a warrant to purchase an aggregate of 805,515 shares of common stock at $0.01 per share.

Macquarie Americas Corp., a wholly–owned subsidiary of Macquarie Group (ASX: MQG), received 3,300,000 of the shares of common stock issued pursuant to the acquisition, or approximately 20.8 % of the outstanding shares following the acquisition.

Thomas Cooke, Chairman and CEO of Saratoga, stated, "We are extremely pleased to have completed the Harvest acquisitions and associated financing and look forward to continuing to develop what we believe is a very promising portfolio of properties and a great first step in implementing our plan to acquire, develop and operate strategic oil and gas properties with unrealized value. Most of the Harvest team will stay in Covington where we will grow our presence as well as open an office in Houston."

About Saratoga Resources, Inc.

Saratoga Resources, Inc. is an energy development company directed by a team of experienced industry professionals. Saratoga´s focus is on the acquisition, development and exploration of energy resources while maintaining efficient operations and high environmental standards.

The information in this release includes certain forward–looking statements that are based on assumptions that in the future may prove not to have been accurate. Those statements, and Saratoga Resources, are subject to a number of risks, including Saratoga´s ability to successfully transition the control and operation of Harvest and its properties, to fund operational overhead, to attract and retain key personnel to support growth, and to acquire additional properties on acceptable terms or at all as well as risks generally associated with the oil and gas industry. These and other risks are described in the company´s documents and reports that are available from the company and the United States Securities and Exchange Commission.