Amplify Energy Corp.
July 19, 2017

Amplify Energy Posts Investor Presentation and Announces Second Quarter 2017 Earnings Conference Call

HOUSTON, July 19, 2017 (GLOBE NEWSWIRE) -- Amplify Energy Corp. ("Amplify Energy" or the "Company") (OTCQX:AMPY) recently posted a supplemental presentation for investors on the Company's website, which provides significant operational, financial and strategic updates on the Company. 

The following are highlights included in the presentation:

(1) Pro forma cash and debt balances as of June 30, 2017. LQA EBITDA represents Q1 2017 annualized Adjusted EBITDA of $39.3 million

(2)  Refer to slide 1 for additional information regarding reserve estimates and PV-10 disclosures

(3)  Assumes NYMEX strip pricing as of June 30, 2017

(4)  1P value reflects PD PV-10 plus PUD PV-15. Current stock price of $10.00 / share as of June 30, 2017

(5) Current production is based on the average daily volume for the month of March 2017

In addition, the Company announced today that it will report second quarter 2017 financial and operating results on August 9, 2017.  Following the announcement, management will host a second quarter 2017 earnings teleconference at 10:00 a.m. CT.  Interested parties are invited to participate in the teleconference by dialing (833) 883-4379 (Conference ID: 51917049) at least 15 minutes prior to the start of the call or via the internet at www.amplifyenergy.com.  A replay of the call will be available on Amplify Energy's website or by phone at (855) 859-2056 (Conference ID: 51917049) for a fourteen-day period following the call.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Amplify Energy expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as "will," "would," "should," "could," "expect," "anticipate," "plan," "project," "intend," "estimate," "believe," "target," "continue," "potential," the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Amplify Energy believes that these statements are based on reasonable assumptions, but such assumptions may prove to be inaccurate. Such statements are also subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Amplify Energy, that may cause Amplify Energy's actual results to differ materially from those implied or expressed by the forward-looking statements. Please read the Company's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report on Form 10-K, and if applicable, its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other public filings and press releases for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. All forward-looking statements speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Amplify Energy undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

About Amplify Energy

Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. The Company's operations are focused in East Texas / North Louisiana, the Rockies, offshore California and South Texas.

For more information, visit www.amplifyenergy.com.

Contacts

Investors:
Amplify Energy
Bobby Stillwell — Chief Financial Officer
(713) 588-8347
bobby.stillwell@amplifyenergy.com

Martyn Willsher — Treasurer
(713) 588-8346
martyn.willsher@amplifyenergy.com