Crestone Announces Addition to Executive Team and Changes to Board of Directors

Crestone Peak Resources (“Crestone”) announced today that Roger Huang
has been named Executive Vice President and Chief Development Officer,
stepping down from his previous role on the Company’s Board of
Directors. Mr. Huang will join Tony Buchanon, President and Chief
Executive Officer, and Barry Turcotte, Senior Vice President and Chief
Financial Officer to complete the Company’s Executive Team.

Additionally, James Trimble was appointed Chairman of the Board of
Directors. Previous Chairman Avik Dey, will transition to a role on the
Board of Directors, joining current Board Directors Benita Warmbold,
Carl Peterson, and John Crum.

“Since Crestone’s inception in July 2016, our team has had an eye on the
future and a goal of attracting and retaining our industry’s most
talented, forward-thinking professionals,” said Tony Buchanon, Crestone
President and Chief Executive Officer. “The addition of Roger to the
Executive Team and Jim’s appointment as Chairman, reflects our intent to
be a leading operator and acquirer in the Rocky Mountain Region.”

More about Mr. Huang and Mr. Trimble

Mr. Huang brings more than 14 years of experience in the oil and
gas industry in private equity, industry, and investment banking. Prior
to joining Crestone, he was a Principal at the Canada Pension Plan
Investment Board (“CPPIB”) in the Natural Resources Group, where he was
the Group’s first hire after inception, helped start the Group’s NYC
office and grow assets under management to $6.1 billion. During this
time, he founded and led the investment into Crestone Peak Resources and
served on the Company’s Board of Directors. Prior to CPPIB, Mr. Huang
served as Vice President at First Reserve in the Hong Kong and Houston
offices, and started his career in Investment Banking for Banc of
America Securities LLC. Mr. Huang holds an M.B.A. from the Wharton
School at the University of Pennsylvania and a B.B.A. from the
University of Texas at Austin with High Honors.

Mr. Trimble joined the Crestone Board of Directors in 2016, and
brings more than 45 years of oil and gas industry experience. He
previously served as the interim Chief Executive Officer and President
of Stone Energy Corporation (NYSE: SGY). Prior to Stone, he served as
CEO and President of PDC Energy, Inc. (NASDAQ: PDCE) and was a member of
its Board of Directors. Mr. Trimble has also held senior management
positions at both public and private independent oil and gas companies,
including CEO of Grand Gulf Energy Company LLC, Elysium Energy and
TexCal Energy, and Senior Vice President of Exploration and Production
for Cabot Oil and Gas Corporation. Mr. Trimble currently serves on the
Board of Directors of Callon Petroleum (NYSE: CPE), Seisgen Exploration,
and formerly served on the Board of Directors of Blue Dolphin Energy.
Mr. Trimble is a registered Professional Engineer and graduated from
Mississippi State University with a degree in Petroleum Engineering.

About Crestone Peak Resources

Crestone Peak Resources is an independent energy company focusing on the
acquisition, exploration, development, and production of oil and gas
reserves in the Rocky Mountain Region. Formed in 2016, Crestone’s team
of nearly 200 professionals has significant operating experience, deep
ties to communities in Colorado, and is committed to operating safely
and responsibly. Crestone’s acreage is located in the Greater Wattenberg
Field of Colorado’s Denver-Julesburg Basin. The Company is headquartered
in Denver and has an office in Firestone. For more information, visit https://www.crestonepeakresources.com/.

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