Summary of VOYAGER OIL & GAS, INC.

Item 5.07 Submission of Matters to a Vote of Security Holders.

On May 24, 2012, Voyager Oil & Gas, Inc. (the "Company") held its annual meeting of shareholders in Billings, Montana for the purpose of voting on two proposals.

The first of those proposals related to the election of seven individuals to serve as directors of the Company for one-year terms expiring in 2013. The seven directors elected and the tabulation of votes (both in person and by proxy) for this proposal were as follows:

         Proposal 1-
         Nominees for Directors     Votes For  Withheld  Broker Non-Votes
         Lyle Berman                22,047,416 1,307,151    26,371,503
         Joseph Lahti               22,476,590   877,977    26,371,503
         Myrna McLeroy              22,669,282   685,285    26,371,503
         Loren J. O'Toole II        22,670,020   684,547    26,371,503

James Russell (J.R.) Reger 22,811,341 543,226 26,371,503 Josh Sherman 22,711,674 642,893 26,371,503 Mitchell R. Thompson 22,562,620 791,947 26,371,503

The second proposal related to the ratification of the appointment of BDO USA, LLP, an independent registered public accounting firm, as the Company's independent registered public accountants for the fiscal year ending December 31, 2012, which was approved:

Proposal 2-
Ratification of BDO USA, LLP Votes For Against Abstentions 48,446,998 1,086,384 192,688