Arsenal Resources Announces Jonathan D. Farmer as President & CEO

Arsenal Resources, a growing pure play natural gas operator in the
Marcellus basin, today announced the appointment of Jon Farmer as
President & CEO, effective October 15, 2017, completing a planned
evolution in leadership as the Company continues to develop its
extensive acreage position. David Wood, who joined Arsenal Resources in
2014 as Chairman and then CEO in 2015, will remain as Chairman of the
Board.

Mr. Farmer has been with Arsenal Resources since its formation in 2011,
and, in that time, has made critical and increasing contributions to the
Company’s success as a best-in-class operator positioned for growth. He
most recently served as its President and Chief Operating Officer. Under
his leadership, Arsenal has increased EURs by over 50% while reducing
costs by as much as 57%. Today, the Company continues to unlock
significant value in its core position of approximately 130,000 net
acres.

“Jon was one of the founders of this business and has worked diligently
and with great collaborative effort to help develop Arsenal to where we
are today – people powered, asset strong,” said David Wood. “Over the
years, he has taken on greater and greater responsibilities in the
Company and demonstrated clear leadership in establishing Arsenal as one
of the largest producers of natural gas in the Marcellus. I look forward
to continuing to work closely with Jon as Chairman of the Board, as
Arsenal moves forward into its next exciting chapter.”

Jon Farmer added, “Being a part of the Arsenal Resources organization
has been my great privilege. This is a passionate team with a proven
track record, and I am honored to take this next step in my leadership
of the company. I am joined by the rest of the Arsenal team in a
commitment to performance, execution, and safety, and we plan to
continue to deliver as a partner of choice for our communities and our
operational partners.”

A graduate of the Advanced Management Program at Harvard, Mr. Farmer has
spent his career at various Appalachian Basin operators, most recently
Falcon Partners. He also has served on the board of Mountaineer
Montessori and continues to stay involved in various philanthropic
enterprises. Mr. Farmer has a Bachelor of Arts in Political Science and
a Juris Doctorate degree.

About Arsenal Resources

Arsenal Resources is an independent exploration and production company
headquartered in Pittsburgh, Pennsylvania that is engaged in the
acquisition, exploration, development and production of natural gas in
the Appalachian Basin. Through the strategic employment of select
technologies, the company achieves continuous improvement in
efficiencies and production results.

If you would like more information about Arsenal Resources, please
contact (724) 940-1100 or visit www.arsenalresources.com

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