Riley Permian Announces Partial Distribution of Common Stock by Investor

OKLAHOMA CITY, March 17, 2022 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian"), today announced that it was advised by Yorktown Energy Partners V, L.P. ("Yorktown V"), that Yorktown V distributed an aggregate of 400,000 shares of common stock of Riley Permian to Yorktown V's limited and general partners after the close of the stock market on March 16, 2022, in accordance with the terms of Yorktown V's partnership agreement.

After the distribution, Yorktown V, will own 215,784 shares of common stock of Riley Permian (1.1% of the total outstanding shares). Yorktown V has informed Riley Permian that the distributed shares can immediately be resold. Riley Permian has not independently confirmed whether any distributed shares have been sold. Following this distribution, funds and entities managed by Yorktown Partners LLC in the aggregate will own approximately 30% of the total outstanding shares of Riley Permian.

Commenting on this distribution, Bobby D. Riley, Chief Executive Officer of Riley Permian stated, "With this distribution, the public float of the Riley Permian's stock has increased to approximately 3.99 million shares, a noteworthy increase. Distributions such as this will continue to improve the liquidity available to investors in Riley Permian," he continued. "We appreciate the continued support of Yorktown."

Riley Permian is a growth-oriented, independent oil and natural gas company focused on the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids. Riley Permian is listed on the NYSE American under the symbol "REPX." For additional information about Riley Permian, including filings with the Securities and Exchange Commission, please visit our website at www.rileypermian.com.

Investor Contact:
Rick D'Angelo
405-438-0126
IR@rileypermian.com

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SOURCE Riley Exploration Permian, Inc.