DENVER, Jan. 24, 2011 /PRNewswire/ -- Earthstone Energy, Inc. (OTC Bulletin Board: BSICD), today announced that the Company's common stock has been approved for listing on the NASDAQ Capital Market.  

"Achieving a national securities exchange listing was a key goal for Earthstone and I am delighted that our stock will begin trading on the NASDAQ Capital Market," commented Ray Singleton, Earthstone's President. "NASDAQ was a logical next step for us and we are honored to attain this listing.  We believe that the NASDAQ listing should enable us to increase the trading liquidity of our stock, broaden our shareholder base and raise our profile in the investment community. This last two years has been transformational for Earthstone; a special thanks to our shareholders, our partners and our team of dedicated employees and consultants!"

Earthstone expects its common stock to commence trading on the NASDAQ Capital Market under the ticker symbol "ESTE" on January 26, 2011. Until that time, the Company's shares will continue to trade on the OTCBB Market.

ABOUT EARTHSTONE ENERGY:

Earthstone Energy, Inc. is an independent oil and gas exploration and production company with primary operations in the Williston Basin, the Denver-Julesburg Basin in Colorado, southern Texas and the Gulf Coast area.  Earthstone is currently traded on the Over The Counter Bulletin Board under the symbol BSICD. The "D" has been appended to the Company's normal trading symbol, BSIC, for 20 business days following its recent reverse stock split.  Information on Earthstone Energy can be found at its web site: www.earthstoneenergy.com.

THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Some statements contained in this release are forward-looking, and therefore involve uncertainties or risks that could cause actual results to differ materially.  Forward-looking statements can be identified by words such as "believe," "should," "may," "will," "anticipate," "expect," "estimate," "intend" or "continue," or comparable words or phrases.  In addition, all statements other than statements of historical facts that address activities that Earthstone intends, expects or anticipates will or may occur in the future are forward-looking statements.  The Company disclaims any obligation to update forward-looking statements.

SOURCE Earthstone Energy, Inc.