New Source Energy Partners L.P. Launches Initial Public Offering

New Source Energy Partners L.P. Launches Initial Public Offering

HOUSTON--(BUSINESS WIRE)-- New Source Energy Partners L.P., a Delaware limited partnership (the Partnership), announced today the commencement of its initial public offering of 4,000,000 common units representing limited partner interests in the Partnership pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission (SEC). The underwriters will be granted a 30-day option to purchase up to an additional 600,000 common units to cover over-allotments, if any. The common units will be listed on the New York Stock Exchange and traded under the symbol "NSLP."

The Partnership was formed by New Source Energy Corporation to own and acquire oil and natural gas properties in the United States. The common units being offered to the public represent a 53.3% limited partner interest in the Partnership, or a 56.7% limited partner interest if the underwriters exercise their option to purchase additional common units in full.

Baird, Stifel Nicolaus Weisel, BMO Capital Markets and Oppenheimer & Co. are serving as joint book-running managers for the offering.

Janney Montgomery Scott, Stephens Inc. and Wunderlich Securities are serving as co-managers for the offering.

This offering of common units will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of:

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC's web site at http://www.sec.gov under the registrant's name, "New Source Energy Partners L.P." This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This news release contains "forward-looking statements" which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially, including but not limited to the inability to complete the initial public offering. For a full discussion of these risks and uncertainties, please refer to the "Risk Factors" section of the Registration Statement on Form S-1 initially filed by the Partnership on December 31, 2012 and the information included in subsequent amendments and other filings. These forward-looking statements are based on and include our expectations as of the date hereof. Subsequent events and market developments could cause our expectations to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law.

New Source Energy Partners - Investor & Media:
Nick Hodapp
Director of Investor Relations
405-272-3028
nhodapp@newsource.com

KEYWORDS: United States North America Texas

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