Pardee Resources Company (OTC: PDER) announced today the commencement of an offer to purchase up to 26,463 shares of its outstanding common stock at a purchase price of $188.94 per share. The Offer is being made on the terms and subject to the conditions set forth in the Purchase Offer Memorandum being mailed to all shareholders. The Offer will expire at midnight, Eastern time, on September 24, 2018unless earlier terminated or extended by the Company.

The Company's Board of Directors has approved the Offer. However, neither the Company's Board nor its management makes any recommendation regarding how shareholders should respond to the Offer.

This announcement is not a recommendation, an offer to purchase or a solicitation to sell any securities of the Company. The Offer is being made only by a Purchase Offer Memorandum, a related Letter of Transmittal and other documents that the Company has begun distributing to shareholders as of August 17, 2018. Shareholders should read carefully the Purchase Offer Memorandum and related materials because they contain important information, including various terms and conditions of the Offer, and should consult their own investment and tax advisors.