May 17, 2010 (FinancialWire) — Saratoga Resources, Inc. (OTCBB: SROEQ) said that the company and its subsidiaries, emerged from chapter 11 bankruptcy protection on May 14 following its filing, with the U.S. Bankruptcy Court, a notice of satisfaction of the conditions of effectiveness of the company’s modified third amended plan of reorganization.

In conjunction with the company’s exit from bankruptcy, Saratoga said it entered into amendments extending and modifying certain terms of its principal credit facilities.

Saratoga is an independent exploration and production company with offices in Houston, Texas, and Covington, Louisiana with 30 full-time employees, supplemented by field-based contract operations personnel.

The firm’s principal holdings cover 33,625 gross acres, mostly held-by-production, located in the state waters offshore Louisiana.

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