EXCHANGE AGREEMENT Dated as of May 15, 2014 between EARTHSTONE ENERGY, INC. and OAK VALLEY RESOURCES, LLCExchange Agreement • May 16th, 2014 • Earthstone Energy Inc • Crude petroleum & natural gas • Delaware
This EXCHANGE AGREEMENT, dated as of May 15, 2014 (this “Agreement”), is by and between Earthstone Energy, Inc., a Delaware corporation (“Earthstone”), and Oak Valley Resources, LLC, a Delaware limited liability company (“Oak Valley”). Earthstone and Oak Valley are sometimes referred to herein individually as a “Party” and, collectively, as the “Parties.” Certain terms used in this Agreement are defined in Annex 1.
