2. Earnings Per Share (Tables)

6 Months Ended

Sep. 30, 2014

Earnings Per Share Tables

Amounts used in computing earnings per share and the effects of potentially dilutive securities

	Three Months Ended				Six Months Ended
	09/30/14		09/30/13		09/30/14		09/30/13
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Net income attributable to Earthstone
Energy, Inc. shareholders	$	1,114,000	$	1,224,000	$	2,111,000	$	1,917,000
Weighted average number of shares
used in basic earnings per share		1,718,964		1,710,445		1,719,003		1,710,445
Effects of dilutive securities:
Unvested common shares *		9,830		-		8,801		-
Weighted average number of shares
used in diluted earnings per share		1,728,794		1,710,445		1,727,804		1,710,445
Basic earnings per share attributable to
Earthstone Energy, Inc. shareholders	$	0.65	$	0.72	$	1.23	$	1.12
Diluted earnings per share attributable to
Earthstone Energy, Inc. shareholders	$	0.64	$	0.72	$	1.22	$	1.12

* As of September 30, 2013, we have excluded unvested common shares outstanding from the calculation of diluted earnings per share, as the inclusion of these shares would have been anit-dilutive.