Robbins Arroyo LLP Is Investigating the Officers and Directors of Earthstone Energy, Inc. (ESTE) on Behalf of Shareholders

Shareholder rights law firm Robbins Arroyo LLP is investigating
whether certain officers and directors of Earthstone Energy, Inc. (NYSE
MKT: ESTE) breached their fiduciary duties to shareholders. Earthstone,
an independent oil and natural gas exploration and production company,
focuses on the acquisition, development, exploration, and production of
onshore, crude oil, and natural gas reserves in the United States.

View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/earthstone-energy-inc

Earthstone Set to Combine with Bold Energy

Pursuant to an agreement between Earthstone and the privately held
company Bold Energy III LLC, the companies will combine, leaving
Earthstone shareholders with less than one third of the surviving
company. According to the terms, Bold will purchase 36,070,828 shares of
Class B common stock for nominal consideration from Earthstone. Further,
the Earthstone name will survive and the current management will
continue to run the company.

Earthstone Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Darnell R. Donahue at
(800) 350-6003, DDonahue@robbinsarroyo.com,
or via the shareholder
information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161214006322/en/

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