Pamela Schreiber
Investor Relations
Resource America, Inc.
1521 Locust St. - 5th Floor
Philadelphia, PA 19102
(215) 546-5005
(215) 546-5388 (facsimile)

Resource America, Inc. Acquires Energy Reserves From American Refining and Exploration Company

Philadelphia, PA - March 20, 2022 - Resource America, Inc. (Nasdaq-REXI)(the "Company") announces that, through a subsidiary of its wholly owned subsidiary Atlas America, Inc., it has completed the acquisition of oil and gas producing reserves and mineral rights located in Fayette County, Pennsylvania (the "Assets") from American Refining and Exploration Company for $1.85 million. The Assets received by the Company include an average 91% working interest in 24 wells with total remaining net proven reserves of 2.8 billion cubic feet of natural gas, as well as operating rights and undeveloped mineral rights.

The Company further announced that Atlas Pipeline Partners, L.P. (AMEX:APL) (the "Partnership"), of which the Company is the General Partner and majority owner, acquired the natural gas gathering system of American Refining and Exploration Company that services the Assets, for cash and common units of the Partnership - a total value of $900,000.

Frank P. Carolas, Executive Vice President of Atlas America, Inc. stated, "This acquisition is a key element to our further exploitation of natural gas reserves in this very attractive area of Pennsylvania. The mineral rights that we acquired, both developed and undeveloped, will add to our existing production and inventory of drillable locations. Additionally, the gas gathering system acquired by our affiliate, Atlas Pipeline Partners, L.P., will provide a means of delivering to market gas produced from these wells and wells to be drilled in the future."

Resource America, Inc. operates businesses in energy and real estate finance.

Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of certain factors, including competition within the energy industry, climactic conditions and the price of gas in the Appalachian area, actual versus projected drilling activity and the volumetric production from the wells, and the cost of supplies and services in the energy industry.