New Source Energy Partners, L.P. Closes Over-Allotment Option

OKLAHOMA CITY–(BUSINESS WIRE)– New Source Energy Partners L.P., a Delaware limited partnership (NYS: NSLP) (the “Partnership”), announced today that underwriters of its recently completed initial public offering have purchased an additional 250,000 common units at $20.00 per unit granted to them in the Underwriting Agreement dated February 7, 2013. New Source Energy Partners‘ initial public offering of 4,000,000 common units, representing limited partnership interests in New Source Energy Partners, closed on February 13, 2013.

Net proceeds received by the Partnership from the sale of the additional common units were approximately $4.65 million in the aggregate, after deducting underwriting discounts, commissions and expenses. The public now owns an approximate 54.8% limited partner interest in the Partnership.

Baird, Stifel Nicolaus Weisel, BMO Capital Markets and Oppenheimer & Co. acted as joint book-running managers for the offering. Janney Montgomery Scott, Stephens Inc. and Wunderlich Securities acted as co-managers for the offering. Copies of the prospectus related to the offering may be obtained from the underwriters as follows: