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Marksmen Energy Drills Exploration Well in Ohio

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Marksmen Energy Inc. has announced that Marksmen has participated in the drilling of a well operated by its joint venture partners, Hocking Hills Energy and Well Services LLC and Chuck Henry Energy LLC.

The well drilled is a Cambrian Knox remnant oil well, the Delong-Davis Unit #1, in Pickaway County, Ohio.

Marksmen has a 45% working interest in the well.

The well was spudded on July 20, 2015 and reached its total depth on July 26, 2015 targeting a large Cambrian Knox remnant that was drilled based on the interpretation of new 3D seismic and encountered significant oil and gas shows in the top of the Cambrian Knox formation where open hole logs recorded porosities of greater than 20% over a 6 foot interval. Oil did circulate to surface.

The well is currently being completed for commercial production and is expected to have a pump-jack and bottom-hole equipment in place in a week with the tanks and other surface equipment to follow shortly. Production is expected to be on-line by mid-August. Marksmen believes that even at depressed WTI prices for oil, Marksmen's wells can be economically exploited because of the low drilling and operating costs for its shallow light oil drilling programs in Ohio.

This well was drilled based on the latest 3D seismic program completed in May 2015 with our joint venture partners HHE and CHE. The success of this well and the 3D seismic indicate there are at least two step out locations on this remnant. A number of other well locations in the 2015 3D target area are currently being permitted for drilling including the largest remnant identified by seismic, an offset to our Strittmatter #1 well.

To date Marksmen has conducted approximately 7 square miles of 3D seismic acquisition using Bay Geophysical of Traverse City, Michigan. Marksmen currently has leasehold interests aggregating approximately 12,000 acres in Pickaway County. Additional 3D seismic is planned for later this year.

Archie Nesbitt, CEO and President of Marksmen states: "Marksmen is very pleased with the initial results from this well based on the very significant contribution that 3D seismic and its interpretation by our technical experts have made to the overall success to date. The program validates the importance of using the best 3D seismic techniques available to exploit the oil bearing zones in this part of Ohio."

Further information will be released as it becomes available.