Denver, Colorado and Houston, Texas (November 5, 2015) – Escalera Resources Co. (OTC PINK: ESCR) (“Escalera” or the “Company”) announced today that it filed a voluntary petition in the United States Bankruptcy Court for the District of Colorado (the “Court”) seeking relief under the provisions of Chapter 11 of Title 11 of the United States Code. The Company believes the Chapter 11 process will provide the greatest flexibility to pursue viable options for asset sales or other alternatives with the goal of maximizing the value of the enterprise for the Company’s creditors and stakeholders. The Company’s legal advisors are Onsager | Guyerson | Fletcher | Johnson of Denver, CO.

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