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Operational Updates

Voyager Oil & Gas Provides Bakken Operational Update

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Voyager Oil & Gas, Inc. (AMEX:VOG), is releasing an operations update.

Highlights include:

Approximately 33,000 net acres in the Williston Basin as of March 31, 2012 100% of acreage acquired during 1Q2012 has received AFEs First quarter 2012 average production of about 600 barrels of oil equivalent per day ("BOEPD"), a 50% increase over fourth quarter 2011, exceeding Company projections 5.03 net (120 gross) wells producing from the Bakken or Three Forks as of March 31, 2012 after adding 2.04 net (38 gross) Bakken/Three Forks wells to production during the quarter with another 2.05 net (42 gross) wells being drilled or awaiting completion as of March 31, 2012 Currently on track to meet 2012 guidance

Acreage Update

As of March 31, 2012, Voyager held 32,823 net acres of mineral right…

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