American Eagle Energy Announces Operations Update - Seite 2

Operated Well Development Guidance

American Eagle currently has 2 gross (0.8 net) operated wells (Skjermo 2-14 and Donald 15-33S) that have been stimulated and are being prepped for production and 1 gross (0.8 net) operated well (Rick 13-31) that is scheduled for completion in early October. One rig is currently drilling the first well on a 2-well development pad. The second rig is currently being replaced by a newer rig and is expected to resume drilling by the end of October.

Production Volume Guidance

The Company estimates that average third quarter 2014 production will be approximately 2,100 to 2,200 BOEPD. The delay in bringing on the 4-well pad with high working interests reduced the average production in the current quarter by approximately 300 BOEPD.

American Eagle's goal for 2014 was to exit the year at or above 3,000 BOEPD. The Company believes that goal could be achieved prior to the end of the year. Depending upon timing of well completions scheduled for the fourth quarter of 2014, the exit rate for 2014 should range between 2,700 to over 3,000 BOEPD. The new exit rate range guidance is the result of the Company's decision to focus on controlling costs, to the extent possible, by increasing pad development and avoiding stimulation of wells during the coldest part of winter. The early onset of severe weather could impact the rate by limiting completions in December.

USG Midstream estimates its gas line to the Tioga processing facility will be operational in October 2014. If so, the Company could achieve full gas sales from connected operated wells during the fourth quarter of 2014.

Commodity Hedges

The Company closed out of its previous commodity hedges in conjunction with its debt refinancing on August 27, 2014, at a cost of $7.2 million. New crude oil hedges were put in place that average $90.40 per barrel with average daily hedged volumes of approximately 1,600 barrels of oil per day for fourth quarter 2014 and an average of $89.52 per barrel with average daily hedged volumes of approximately 1,000 barrels of oil per day for 2015.

ABOUT AMERICAN EAGLE ENERGY CORPORATION

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. More information about American Eagle can be found at www.americaneagleenergy.com or by contacting investor relations at 303-798-5235 or [e-mail]. Company filings with the Securities and Exchange Commission can be obtained free of charge at the SEC's website at www.sec.gov.