The Board of Directors of Miller Energy Resources, Inc. has declared a quarterly cash dividend payment on the Company's 10.75% Series C Cumulative Redeemable Preferred Stock. The dividend payment will be calculated as of June 1, 2013 for all holders of record at the close of business on May 15, 2013. Because June 1 is not a business day, in accordance with Miller's Charter, the dividend will be paid on June 3, 2013. The quarterly dividend on the Series C Preferred Stock will be $0.671875 per share, which is equivalent to an annualized 10.75% per share, based on the $25.00 per share stated liquidation preference, accruing from March, 2013, through the end of May, 2013.

Miller Energy Resources, Inc. announced that its Osprey Platform is currently producing an average of 800 BOEPD over the last three days. This is an increase of 600 BOEPD, or 300%, from the end of 2012. The primary drivers of the increase are the restoration work performed on the RU-7 well, optimization of RU-1 and production from RU-3 gas well. The average oil production from RU-1 and RU-7 over the last three days was approximately 400 BOPD and 200 BOPD, respectively. The RU-7 work-over consisted of pulling the failed electric submersible pump (ESP) and replacing it with a new larger ESP. The larger ESP will allow for further drawdown on the Hemlock oil formation, which is expected to increase production. RU-7 is the first well for which the Company successfully deployed an optimized completion in the Redoubt Field that allowed for unrestrictive flow-path into the wellbore. The successful completion more than doubled the flow rates for RU-7 and reduced the annual decline curve from 27% to 10%. In addition to oil production, the average gas production from RU-3 was approximately 1.5 MMCFD. RU-4 tested at 1.7 MMCFD but is currently shut in as RU-3, combined with Miller's on-shore gas production is approximately 0.5 MMCFD and supplies enough fuel gas for Miller's current operational needs in Alaska. Cook Inlet Energy (CIE), the Company's owned and operated subsidiary in Alaska, is currently evaluating the sale of gas from RU-3 and RU-4 to third parties as demand for natural gas continues to outstrip supply in the Cook Inlet.

Miller Energy Resources, Inc. Presents at IPAA Oil and Gas Investment Symposium, Apr-15-2013 11:45 AM. Venue: The Sheraton New York Hotel & Towers, 811 Seventh Avenue at 53(rd) Street, New York, NY 10019, United States.