Earthstone Energy (OTC BB:BSICD)

Singleton further stated, "Looking forward, this year is shaping up to be an exciting and busy year. First, we are commencing three new wells on the flanks of our Antenna property in Weld County, Colorado. In addition, we are deepening ten of our new Codell wells on this property down to the J-Sand formation. After an initial “clean-up” period, we intend to place both formations on production simultaneously. In the Williston basin, advances in hydraulic stimulation technology have expanded the economic viability of the Bakken formation into areas once thought to be uneconomic. These advances are being applied to our recently announced Pederson #10-3H where operations are progressing with encouraging results. This and other successes around the Banks field are arousing attention. With two companies, Panther Energy Company, LLC. and Zenergy, Inc., battling for operations in the area, we expect things to heat up. We would not be surprised to see another operator move into the area or buy out one of these two companies. As we have in the past, we intend to participate in new wells proposed by other companies that 'pool or space' our leasehold rights within spacing units they operate. In an effort to balance this 'drill bit' activity, the Company is intensifying its acquisition efforts and is currently pursuing several opportunities that hopefully will enhance the Company’s growth and profitability. With a number of efforts both underway or in the planning process we are very excited about our future.”

"Our goal is to grow our production and reserves. The Board of Directors and I are implementing a growth strategy to capitalize on the opportunities we believe we are seeing and will see in the future. We intend to put an emphasis on acquisitions, even though the drill bit has been dominate in our strategy and success in adding reserves. Our ultimate goal is to create value for our shareholders. We believe the opportunities at this point in time are substantial, and will allow us to accomplish this."