Saratoga Resources Inc. - 2011-05-03

Plans to offer up to $150 million of first lien senior secured notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. Saratoga intends to use the net proceeds to pay substantially all of its existing debt, including all debt under its existing credit facilities which mature in April 2012.