PetroShare Corp. Executes Agreement to Acquire Approximately 5,900 Gross (1,465 Net) Acres in the DJ Basin and Announces its Participation in Upcoming Investor Conferences

ENGLEWOOD, CO--(Marketwired - February 28, 2017) - PetroShare Corp. (OTCQB: PRHR) today announced it has entered into a Purchase and Sale Agreement with an independent third party seller to acquire oil and gas leases totaling approximately 5,879 gross (2,930 net) acres, with an average net revenue interest of 84%, located in Weld and Adams Counties, Colorado. The total purchase price for the leases and associated assets is $2.582 Million. The Company's strategic partner and lender, Providence Energy Operators, LLC, has agreed to purchase a 50% interest in the assets, reducing the Company's interest in the Agreement to 1,465 net acres. The Company will pay approximately $460,000 in cash and issue 450,000 shares of its common stock to the seller for its 50% share of the acquisition.

The Agreement covers approximately 1,171 net acres located in the Northeastern core of the Wattenberg Field in Weld County. The Company believes these leases have the potential for between 20 and 30 gross Niobrara and Codell standard and extended length horizontal wells. The remaining 1,759 net acres covered by the Agreement are located in Adams County in the Southeastern portion of the DJ Basin, where the Company has been actively expanding its footprint since entering the basin in 2015. Upon closing, the Company will have an interest in nearly 10,000 net acres across the play.

The Purchase and Sale Agreement has an effective date of January 1, 2017 and the Company expects to close the transaction in late March 2017, subject to conducting customary due diligence.

Upcoming Investor Conferences

Members of PetroShare's senior management will participate in the following hosted investor events:

Enercom Dallas 2017
March 1-2, 2017 at the Tower Club, Dallas, TX

The ROTH Conference
March 12-15, 2017 at the Ritz Carlton Laguna Niguel, Dana Point, CA

Scotia Howard Weil 2017 Energy Conference
March 26-29, 2017 at the Roosevelt New Orleans Hotel, New Orleans, LA

Presentations provided in conjunction with these events will be available on PetroShare's website at www.petrosharecorp.com . Please refer to the respective conference hosts' websites for specific presentation dates and attendees

About PetroShare Corp.

PetroShare Corp. is a domestic oil and natural gas exploration and development company that targets capital deployment opportunities in established unconventional resource plays. Its current focus is in the Niobrara/Codell formations and adjacent oil and gas producing zones in the Rocky Mountain region with specific targets in the Wattenberg field within the DJ Basin of northeast Colorado. For more information, visit www.PetroShareCorp.com