Amen Properties Reports Results for Fourth Quarter of 2013 and Announces Quarterly Dividend

Amen Properties, Inc. (Pink Sheets:AMEN) today announced financial results for its fiscal quarter ended December 31, 2013. The Company posted quarterly revenue of $865 thousand and a net profit of $948 thousand, or $18.47 per diluted share. These results compare to revenue of $652 thousand and net income of $1.2 million, or $23.69 per diluted share, for the same quarter last year. This reduction in earnings was caused by dividends received by the Company at the end of 2012 in connection with its real estate investments and was offset by a gain of $852 thousand recognized at the end of 2013 as a result of the sale of leasehold interests owned by SFF Production, LLC.

For the full year ended December 31, 2013, Amen reported revenue of $3.0 million, an increase of 33% over 2012 caused by fluctuations in commodity prices for oil and gas. Net Income for 2013 was $2.3 million versus $1.3 million for 2012. This increase was driven primarily by increased income from SFF Royalty as a result of lower depletion and the leasehold interest sale described above.

Amen also announced that the Company’s Board of Directors has approved the payment of a quarterly dividend of $18 per share to the Company’s common shareholders. The dividend will be paid on April 4, 2014 to shareholders of record as of March 28, 2014.

Finally, Amen reiterated that its Board has approved a plan whereby the Company will no longer hedge the revenue stream associated with its oil and gas royalties. “Shareholders of Amen need to understand that they hold an un-hedged long oil and gas position and should pursue their own hedging strategy if they are uncomfortable with that risk”, said Kris Oliver, Amen’s Chief Executive Officer.

The Company’s 2013 fourth quarter report is available for viewing or download from the company’s web site – www.amenproperties.com.

About Amen Properties:

Amen Properties owns a diverse portfolio of cash-producing properties including real estate and oil and gas interests.

Cautionary Statement:

This document contains forward-looking statements, which involve a number of risks and uncertainties that could cause our actual results to differ materially from those reflected in the forward-looking statements. Forward-looking statements can be identified by use of the words "expect," "project," "may," "might," potential," and similar terms. AMEN Properties, Inc. ("Amen", "we" or the "Company") cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Amen's control. These factors include, but are not limited to, our ability to implement our strategic initiatives, economic, political and market conditions and price fluctuations, government and industry regulation, U.S. and global competition and other factors. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Press and Investor Relations:For Amen Properties, Inc.Kris Oliver, 972-999-0494

AMEN Properties (PK) (USOTC:AMEN)
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