PetroShare Corp., along with its affiliate, filed a plan of reorganization with related disclosure statement in the US Bankruptcy Court on December 20, 2019. As per the plan filed, Administrative Claims, Statutory Fees, Priority Tax Claims, Professional Fees, Prepetition Lenders Secured Claims of $14.30 million and W&E Lienholder Claims of $8.88 million will be paid in full in cash. Providence Energy Corp. Secured Claims shall not receive any recovery or distribution under this Plan unless and until all holders of allowed General Unsecured Claims are paid in full with interest at the federal judgment rate. General Unsecured Claims shall of $1.50 million (6.90% of allowed amount of $21.76 million) receive, in full satisfaction, settlement, release, and discharge of and in exchange for such Allowed Claims, a pro rata distribution from the GUC Recovery Fund. No distributions will be made to holders of allowed intercompany claims and Equity Interests. The plan will be funded through asset sale and cash in hand.