OREANDA-NEWS. On August 15, 2014, Black Elk Energy Offshore Operations, LLC (the "Company"), an independent oil and gas company headquartered in Houston, Texas announced the closing of its previously announced sale to Renaissance Offshore, LLC of seven operated and one non-operated assets in the offshore Gulf of Mexico (the "Renaissance Sale"). After customary purchase price adjustments, the Company received USD 149.2 million in net proceeds from the Renaissance Sale. The assets sold in the Renaissance Sale represent a significant amount of the Company's cash flow, proved reserves and production.

Based on the consents received and the conditions to effectiveness, including the Renaissance Sale, having been satisfied or waived in connection with the previously announced tender offer (the "Offer") and consent solicitation ("Consent Solicitation") with respect to the Company's outstanding USD 150,000,000 aggregate principal amount of 13.75% senior secured notes due 2015 (the "Notes"), the Company, Black Elk Energy Finance Corp., the guarantor and the trustee under the indenture governing the Notes have entered into a Second Supplemental Indenture in order to effect the proposed amendments to the indenture governing the Notes effective as of August 19, 2014 (the "Effective Time"). At the Effective Time, the Second Supplemental Indenture is binding on all holders of Notes, including those who did not deliver a consent.

All Notes validly tendered and not withdrawn at or before 5:00 p.m. Eastern Time on August 13, 2014 have been accepted for payment and the Company expects to promptly pay for such Notes in accordance with the terms of the Company's Offer to Purchase and Consent Solicitation Statement dated July 16, 2014, and in the related Letter of Transmittal and Consent to Tender and to Give Consent (referred to herein collectively as the "Offer Documents").

The Offer and the Consent Solicitation were made solely by means of the Offer Documents, which have been made available to the holders of Notes. Under no circumstances shall this news release constitute an offer to purchase or the solicitation of an offer to sell the Notes or any other securities of the Company or of any other person, nor shall there be any offer or sale of any Notes or other securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.