Exhibit 99.1

EVALUATION SUMMARY

LILIS ENERGY, INC. INTERESTS

DELAWARE BASIN PROPERTIES IN TEXAS AND NEW MEXICO

TOTAL PROVED RESERVES

AS OF DECEMBER 31, 2017

Pursuant to the Guidelines of the
Securities and Exchange Commission for
Reporting Corporate Reserves and
Future Net Revenue

	W. TODD BROOKER, P.E.
	PRESIDENT

	MATTHEW K. REGAN, P.E.
	PARTNER

CAWLEY, GILLESPIE & ASSOCIATES, INC.

PETROLEUM CONSULTANTS

January 10, 2018

Lilis Energy, Inc.

300 E. Sonterra Blvd, Suite 1220
San Antonio, TX 78258

Ladies and Gentlemen:

As requested, this report was prepared on January 10, 2018 for Lilis Energy, Inc. (“LEI”) for the purpose of submitting our estimates of proved reserves and forecasts of economics attributable to the subject interests. We have evaluated 100% of LEI reserves, which are made up of oil and gas properties in the Delaware Basin. This evaluation utilized an effective date of December 31, 2017, was prepared using constant prices and costs, and conforms to Item 1202(a)(8) of Regulation S-K and other rules of the Securities and Exchange Commission (SEC). The results of this evaluation are presented in the accompanying tabulations, with a composite summary of the values presented below:

Lilis Energy, Inc. Interests

January 10, 2018

Page 2

Future revenue is prior to deducting state production taxes and ad valorem taxes. Future net cash flow is after deducting these taxes, future capital costs and operating expenses, but before consideration of federal income taxes. In accordance with SEC guidelines, the future net cash flow has been discounted at an annual rate of ten percent to determine its “present worth”. The present worth is shown to indicate the effect of time on the value of money and should not be construed as being the fair market value of the properties. The oil reserves include oil and condensate. Oil and NGL volumes are expressed in barrels (42 U.S. gallons). Gas volumes are expressed in thousands of standard cubic feet (Mcf) at contract temperature and pressure base.

Our estimates are for proved reserves only and do not include any probable or possible reserves nor have any values been attributed to interest in acreage beyond the location for which undeveloped reserves have been estimated. The Proved Developed category is the summation of the Proved Developed Producing and Proved Developed Non-Producing estimates.

Presentation

This report is divided into four main sections: Summary (Total Proved and Proved Developed), Proved Developed Producing (“PDP”), Proved Developed Non-Producing (“PDNP”) and Proved Undeveloped (“PUD”). Within each section are Tables I and Summary Plots. Tables II and Individual Figures and Tables are also included in the PDP, PDNP and PUD sections. The Tables I present composite reserve estimates and economic forecasts for the particular reserve category or property grouping. The Summary Plots are composite rate-time history-forecast curves for the corresponding Table I. Following certain Summary Plots are Table II “oneline” summaries that present estimates of ultimate recovery, gross and net reserves, ownership, revenue, expenses, investments, net income and discounted cash flow for the individual properties that make up the corresponding Table I. Individual Figures and Tables present reserve estimates, economic forecasts and rate-time plots on a lease or well level. For a more detailed explanation of the report layout, please refer to the Table of Contents following this letter.

Hydrocarbon Pricing

The base SEC oil and gas prices calculated for December 31, 2017 were $51.34/Bbl and $2.976/MMBTU, respectively. As specified by the SEC, a company must use a 12-month average price, calculated as the unweighted arithmetic average of the first-day-of-the-month price for each month within the 12-month period prior to the end of the reporting period. The base oil price is based upon WTI-Cushing spot prices (Bloomberg) from January - December 2017 and the base gas price is based upon Henry Hub spot prices (Gas Daily) from January - December 2017.

The base prices shown above were adjusted for differentials on a per-property basis, which may include local basis differentials, transportation, gas shrinkage, gas heating value (BTU content) and/or crude quality and gravity corrections. Natural gas liquid (NGL) prices were applied as a percentage of WTI. After these adjustments, the net realized prices for the SEC price case over the life of the proved properties was estimated to be $47.741 per barrel for oil, $2.611 per MCF for gas and $8.245 per barrel for NGLs. All economic factors were held constant in accordance with SEC guidelines.

Economic Parameters

Ownership was accepted as furnished and has not been independently confirmed. Oil and gas price differentials, gas shrinkage, ad valorem taxes, severance taxes, lease operating expenses and investments were calculated and prepared by LEI and were reviewed by us for accuracy and completeness. In some cases, data was accepted as provided. Lease operating expenses were either determined at the area or individual well level using averages calculated from historical lease operating statements. All economic parameters, including lease operating expenses and investments, were held constant (not escalated) throughout the life of these properties.

Lilis Energy, Inc. Interests

January 10, 2018

Page 3

SEC Conformance and Regulations

The reserve classifications and the economic considerations used herein conform to the criteria of the SEC as defined in pages 3 and 4 of the Appendix. The reserves and economics are predicated on regulatory agency classifications, rules, policies, laws, taxes and royalties currently in effect except as noted herein. The possible effects of changes in legislation or other Federal or State restrictive actions which could affect the reserves and economics have not been considered. However, we do not anticipate nor are we aware of any legislative changes or restrictive regulatory actions that may impact the recovery of reserves.

This evaluation includes 20 proved undeveloped locations. Each of the drilling locations proposed conform to the proved undeveloped standards as set forth by the SEC. In our opinion, LEI has indicated they have every intent to complete this development plan as scheduled. Furthermore, LEI has indicated that they have the proper company staffing, financial backing and prior development success to ensure this development plan will be fully executed.

Reserve Estimation Methods

The methods employed in estimating reserves are described in page 2 of the Appendix. Reserves for proved developed producing wells were estimated using production performance methods. Certain new producing properties with little production history were forecast using a combination of production performance and analogy to similar production, both of which are considered to provide a relatively high degree of accuracy.

Non-producing reserve estimates, for both developed and undeveloped properties, were forecast using a combination of volumetric and analogy methods. These methods provide a relatively high degree of accuracy for predicting proved developed non-producing and proved undeveloped reserves for LEI properties. The assumptions, data, methods and procedures used herein are appropriate for the purpose served by this report.

General Discussion

The estimates and forecasts were based upon interpretations of data furnished by your office and available from our files. To some extent information from public records has been used to check and/or supplement these data. The basic engineering and geological data were subject to third party reservations and qualifications. Nothing has come to our attention, however, that would cause us to believe that we are not justified in relying on such data. All estimates represent our best judgment based on the data available at the time of preparation. Due to inherent uncertainties in future production rates, commodity prices and geologic conditions, it should be realized that the reserve estimates, the reserves actually recovered, the revenue derived therefrom and the actual cost incurred could be more or less than the estimated amounts.

An on-site field inspection of the properties has not been performed. The mechanical operation or condition of the wells and their related facilities have not been examined nor have the wells been tested by Cawley, Gillespie & Associates, Inc. Possible environmental liability related to the properties has not been investigated nor considered. The cost of plugging and the salvage value of equipment at abandonment have not been included.

Lilis Energy, Inc. Interests

January 10, 2018

Page 4

Cawley, Gillespie & Associates, Inc. is a Texas Registered Engineering Firm (F-693), made up of independent registered professional engineers and geologists that have provided petroleum consulting services to the oil and gas industry for over 50 years. This evaluation was supervised by W. Todd Brooker, President at Cawley, Gillespie & Associates, Inc. and a State of Texas Licensed Professional Engineer (License #83462). We do not own an interest in the properties or Lilis Energy, Inc. and are not employed on a contingent basis. We have used all methods and procedures that we consider necessary under the circumstances to prepare this report. Our work-papers and related data utilized in the preparation of these estimates are available in our office.

	W. Todd Brooker, P. E.
	President

TABLE OF CONTENTS

Lilis Energy, Inc. Interests

Delaware Basin Properties in Texas and New Mexico
As of December 31, 2017

REPORT LETTER

TABLE OF CONTENTS

SUMMARY TAB

PROVED DEVELOPED PRODUCING

PROVED DEVELOPED NON-PRODUCING

PROVED UNDEVELOPED

APPENDIX TAB

Table II’s are “One–Line” Lease Summaries of Economics for wells/leases in corresponding Table I’s.
Summary Plots are Grand Total Rate–Time History–Forecast Curves based on the corresponding Table I.

i

Table I - TP

Composite Reserve Estimates and Economic Forecasts
Lilis Energy, Inc. Interests

Delaware Basin Properties in Texas and New Mexico
Total Proved Reserves

As of December 31, 2017

Cawley, Gillespie & Associates, Inc.

Table I - PD

Composite Reserve Estimates and Economic Forecasts
Lilis Energy, Inc. Interests

Delaware Basin Properties in Texas and New Mexico
Proved Developed Reserves

As of December 31, 2017

Cawley, Gillespie & Associates, Inc.

Table I - PDP

Composite Reserve Estimates and Economic Forecasts
Lilis Energy, Inc. Interests

Delaware Basin Properties in Texas and New Mexico
Proved Developed Producing Reserves

As of December 31, 2017