Lonestar Resources US Inc. announced that its proved reserves increased to a record 100.6 million barrels of oil equivalent ("MMBOE") at December 31, 2019 calculated using SEC guidelines. All of the Company’s proved reserves are located in the Eagle Ford Shale. Lonestar’s proved reserves at December 31, 2019 are comprised of 49.8 million barrels of crude oil and condensate, 24.9 million barrels of natural gas liquids ("NGL’s"), and 155.9 billion cubic feet of natural gas. By energy content, Lonestar’s proved reserves are weighted 74% to crude oil, condensate and NGL’s. The SEC PV-10 for Lonestar’s proved reserves was $834.2 million. In 2019, lonestar added a total of 19.6 mmboe, which consisted of 13.9 mmboe through extensions and discoveries, and 5.6 mmboe through positive reserve revisions based on performance. these reserve additions were equivalent to 353% of lonestar's 2019 production. Lonestar’s proved reserves were reduced by the sale of its pirate asset (-2.2 mmboe), negative revisions related to reduction in sec-mandated prices (-1.2 mmboe), and a reclassification of certain drilling locations that were moved to probable reserves in accordance with the sec’s 5-year rule (-3.4 mmboe). Lonestar’s proved developed reserves increased 23% to 33.0 mmboe and the pv-10 associated with its proved developed reserves was $421.4 million using sec guidelines. Lonestar estimates that its capital expenditures related to oil and gas activities totaled $171.8 million for the year ended december 31, 2019. lonestar’s all-sources finding and development ("f&d") costs were $11.44 per boe. excluding the negative revisions related to price and reclassification, lonestar’s finding and development costs were $8.77 per boe. Lonestar’s 2019 results continue an extended streak of economic performance. including 2019 results, lonestar’s five-year reserves replacement ratio has been 549% and the five-year all-sources f&d costs averages $8.26 per boe, with drillbit only f&d costs averaging $11.80 per boe over the five-year period. In 2019, lonestar’s proved & probable reserves increased to 122.7 mmboe, which is comprised of 65.1 million barrels of crude oil and condensate, 28.4 million barrels of natural gas liquids, and 175.5 billion cubic feet of natural gas. using sec guidelines, pv-10 for proved & probable reserves exceeds $960.6 billion. Lonestar’s proved & probable reserves included 250 drilling locations which were assigned reserves by the company’s independent petroleum engineers, equating to approximately 15 years of drilling activity at lonestar’s current rate of drilling. Without producing property acquisitions, our drilling program still generated organic reserve growth via a combination of 1) new wells outperforming their prior bookings resulting in upward revisions to both PDP’s and PUD’s; and 2) drilling wells on newly-leased acreage resulting in reserve additions. The table below summarizes Lonestar’s year-end proved reserves and PV-10 by region as determined by the Company’s independent petroleum engineers, W.D. Von Gonten & Co. Petroleum Engineers. Based on rules of the U.S. Securities and Exchange Commission, for the year ended December 31, 2019, Lonestar’s proved reserves were estimated using the 12-month average price calculated as the unweighted arithmetic average of the spot price on the first day of each month preceding the 12 months prior to the end of the reporting period. This methodology resulted in an average NYMEX oil price of $55.69 per barrel and an average NYMEX natural gas price of $2.58 per million British Thermal Units ("MMBTU"), a decrease of 15% for crude oil and an decrease of 17% for natural gas, as compared to an average of oil price of $65.56 per barrel and an average natural gas price of $3.10 per MMBTU used to estimate Lonestar’s proved reserves for the year ended December 31, 2018.