Earthstone Energy Transfers Listing to NYSE Amex

EARTHSTONE ENERGY, INC.

announced today that its Board of Directors authorized the transfer of its stock exchange listing from the NASDAQ Capital Market to NYSE Amex. In furtherance of this listing transfer, the Company today notified the NASDAQ Capital Market of its intent to delist and deregister its Common Stock on the NASDAQ Capital Market and to become listed on NYSE Amex.  At least 10 days thereafter, the Company intends to file a Form 25 with the U.S. Securities and Exchange Commission in connection with the delisting and deregistration of its Common Stock from the NASDAQ Capital Market.   The Company anticipates that the delisting of its Common Stock on the NASDAQ Capital Market will be effective on or about December 20, 2011, being the same date when the new listing of its Common Stock on the NYSE Amex will occur under its current ticker symbol "ESTE." The Board brought about this exchange listing change to enhance the Company's exposure in the trading and investment community. In addition, the NYSE Amex specialist-based trading platform is expected to benefit the Company in several ways including, among others, reducing the bid/ask spread of the Company's stock price.