PetroShare Corp. Retains Jon B. Kruljac for Capital Markets and Investor Advisory Services

CENTENNIAL, CO--(Marketwired - August 22, 2016) - PetroShare Corp. (OTCQB: PRHR) ("PetroShare" or the "Company"), a domestic energy company focused on oil and gas properties in the Wattenberg Field of the Denver Julesberg Basin (D-J Basin), has retained Jon B. Kruljac, who has 31 years of experience on Wall Street, for consulting and advisory services regarding its capital markets and investor outreach strategies.

Stephen J. Foley, Chief Executive Officer, commented, "As we continue to build out our presence in the D-J Basin the company is preparing for increased interaction with Wall Street investment banking firms and institutional investors. Having access to someone with Jon's background in the capital markets arena should prove valuable as we move forward in our corporate development."

Jon Kruljac has worked in the securities industry since 1985, and he has been focused on small-cap, Rocky Mountain based oil and gas companies since 1991, as an institutional salesman, investment banker, investor relations consultant and, most recently served as Vice President of Capital Markets and Investor Relations with Synergy Resources Corporation.

"I feel privileged to join the talented team at PetroShare and look forward to providing assistance during this period of such rapid corporate growth," said Kruljac. "I believe the Company is well positioned to provide shareholder value as it has established an initial footprint in the Wattenberg Field with quality acreage, it has a clean capital structure with a low level of debt, and management is focused on low overhead and low completed well costs."

"We are very pleased to bring Jon in to collaborate with the team at PetroShare and provide his significant knowledge and experience in accessing capital and increasing liquidity for emerging growth oil and gas companies," stated Bill Conrad, PetroShare's Chairman. "As a former founding director of Synergy Resources Corporation I witnessed Jon's capabilities firsthand as that company grew from a start up to over $1 billion in market capitalization, and I welcome his participation during this pivotal phase for PetroShare as we expand the scope of our operations."

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

Caution Concerning Forward-Looking Statements
This press release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as of the date of this news release, PetroShare's estimates, forecasts, projections, expectations or beliefs as to certain future events and results. These forward-looking statements include, among others, statements regarding the benefits that PetroShare expects from transactions and plans and objectives of management for future operations. Forward-looking statements and information are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, technical, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information.

Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, risks related to receipt of working capital, the level of success in exploration, development and production activities, possible defects in title to properties, fluctuations in the market price of crude oil and natural gas, industry risks, possible federal and/or state initiatives related to regulation of hydraulic fracturing, risks related to permitting and the projected timeframes to receive the necessary permits, environmental risks and hazards, uncertainty as to calculation of crude oil and natural gas resources and reserves and other risks described in the Company's annual report on Form 10-K for the year ended December 31, 2015 and other filings with the Securities and Exchange Commission. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. PetroShare undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made in this news release are qualified by this cautionary statement.