News

Amen Properties Reports Results for Third Quarter of 2010

November 22, 2010
Amen Properties (Pink Sheets: AMEN) today announced financial results for its fiscal quarter ended September 30, 2010. The
Company posted quarterly revenue of $755 thousand and a net loss of $(667) thousand, or $(13.02) per diluted share. These
results compare to revenue of $614 thousand and net income of $73 thousand, or $1.41 per diluted share, for the year ago quarter.
This decrease in earnings is attributable primarily to goodwill impairment expense of $963 thousand recognized during the quarter.

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Amen Properties Reports Results for Fourth Quarter of 2010

March 8, 2011
RICHARDSON, Texas—March 8, 2011—Amen Properties (Pink Sheets: AMEN) today announced financial results for its fiscal
quarter ended December 31, 2010. The Company posted quarterly revenue of $904 thousand and a net loss of $(2.2) million, or
$(43.71) per diluted share. These results compare to revenue of $878 thousand and net income of $121 thousand, or $2.35 per
diluted share, for the year ago quarter.

The decrease in earnings versus last year was driven primarily by a loss of $1.5 million recorded when the Company sold Priority
Power to Priority’s management team on October 1. Additionally, Amen recorded $470 thousand in dry hole expense during the
quarter in connection with a number of drilling projects in the Permian Basin of West Texas.

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Amen Properties Reports Results for First Quarter of 2011

June 2, 2011
RICHARDSON, Texas—June 2, 2011—Amen Properties (Pink Sheets: AMEN) today announced financial results for its fiscal quarter
ended March 31, 2011. The Company posted quarterly revenue of $811 thousand and a net loss of $(217) thousand, or $(4.24)
per diluted share. These results compare to revenue of $1.1 million and a net loss of $(222) thousand, or $(4.34) per diluted share,
for the year ago quarter.

The decrease in revenue versus last year was driven primarily by a decrease in commodity prices for natural gas and a decrease in
production related primarily to an interruption in operations at the Big Escambia Creek Gas Plant.

The Company reported that it received $627 thousand in cash distributions from its oil and gas properties during the quarter.

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Amen Properties Reports Results for Second Quarter of 2011

August 29, 2011
RICHARDSON, Texas—August 29, 2011—Amen Properties (Pink Sheets: AMEN) today announced financial results for its fiscal
quarter ended June 30, 2011. The Company posted quarterly revenue of $1.0 million and net income of $283 thousand, or $5.51
per diluted share. These results compare to revenue of $632 thousand and a net loss of $(1.3) million, or $(25.67) per diluted
share, for the year ago quarter.

The increase in revenue versus last year was driven primarily by an increase in commodity prices as well as an increase in
production. The increase in net income versus last year was driven by $1.3 million in goodwill impairment recognized in 2010 related
to the sale of Priority Power.

The Company reported that it received $783 thousand in cash distributions from its oil and gas properties during the quarter.

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Amen Properties Reports Results for Third Quarter of 2011

RICHARDSON, Texas—November 15, 2011—Amen Properties, Inc. (Pink Sheets: AMEN) today announced financial results for its
fiscal quarter ended September 30, 2011. The Company posted quarterly revenue of $985 thousand and net income of $85
thousand, or $1.65 per diluted share. These results compare to revenue of $755 thousand and a net loss of $(667) thousand, or
$(13.02) per diluted share, for the quarter ended September 30, 2010.

The increase in revenue over the same period last year was driven primarily by an increase in oil and gas commodity prices as well
as an increase in production. The increase in net income over the same period last year was driven by this revenue increase as well
as a $963 thousand goodwill impairment charge that was recognized in the third quarter of 2010 related to the sale of Priority
Power. The Company reported that it received $991 thousand in cash payments from its oil and gas properties during the quarter.

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