PetroShare Corp. Appoints Douglas R. Harris to Its Board of Directors

CENTENNIAL, CO--(Marketwired - July 13, 2016) - PetroShare Corp. (OTCQB: PRHR) ("PetroShare" or the "Company"), a domestic energy company focused on oil and gas properties in the Rocky Mountain portion of the United States, today announced that its Board of Directors appointed Douglas R. Harris as an independent director on July 5, 2016.

Mr. Harris has over 38 years of experience in the oil and gas industry. He currently serves as Chief Operating Officer and Founder of Axia Energy II, LLC, which he co-founded in 2015. Axia II was formed to identify and develop oil and gas properties throughout the United States. Prior to Axia II, Mr. Harris served as co-Founder and Chief Operating Officer of Axia Energy, LLC from 2009 to 2015 and the Vice President of Operations for Orion Energy Partners, Inc. from 2004 to 2009. All of the foregoing companies were privately-held. Mr. Harris was the Vice President and General Manager of the Denver Division of Tom Brown, Inc. from 2001 to 2004. From 1986 until 2001, Mr. Harris served in numerous positions for Burlington Resources Inc., culminating as the Vice President of Production Operations in its Calgary, Alberta offices. Mr. Harris is currently an active investor and board member of Select Oil Tools, Ptarmigan Services, LLC, Oxygenator Water Technologies and Melior Innovations, Inc.

"We are very pleased to bring Doug onto the Board of PetroShare," stated Bill Conrad, PetroShare's Chairman. "We look forward to benefiting from his significant knowledge and experience in the oil and gas industry as we continue our focus on growing our assets and building shareholder value. The Company has entered a crucial period of progress and Doug brings terrific experience to the team for this phase of our development."

"PetroShare's outstanding board and management team coupled with recent acquisition milestones have positioned the Company for maturation and marked near term growth," stated Mr. Harris. "I welcome the opportunity to provide insight that contributes to PetroShare's future growth."

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.