EARTHSTONE ENERGY, INC. (Nasdaq: ESTE) ("Earthstone" or "Company") reported that the Company's Board of Directors has appointed James M. Poage as Interim Chief Financial Officer.  Mr. Poage will perform the duties and responsibilities previously held by Mr. Joseph Young who, earlier this week, resigned as Principal Accounting Officer.  

"We are excited about the appointment of Mr. Poage," commented Ray Singleton, President of Earthstone.  "Mr. Poage not only brings a wealth of oil and gas experience, but a fresh perspective to our accounting function.  He will be instrumental in the preparation of this year's SEC Form 10-K in addition to our initial efforts to become XBRL compliant."

In a Form 8-K filed in conjunction with this press release, the Company has provided expanded information concerning Mr. Poage's background and qualifications.  Interested parties are encouraged to review this Form 8-K for more information.