Group 1 - EON Resources, Inc. announced a funding of $45.5 million along with a related Farmout Agreement [1] - The conference call was hosted by Michael Porter, who introduced the session and mentioned the forward-looking statements [2][3] - The call included discussions on risks and uncertainties that could affect the company's expectations and results [3] Group 2 - The management team was introduced to provide further insights into the funding and its implications for the company [4]

EON Resources Inc. Conference Call Summary Company Overview - **Company**: EON Resources Inc. (NYSEAM:EONR) - **Date of Call**: September 30, 2025 - **Key Focus**: Discussion of $45.5 million funding and related farm-out agreement Industry Context - **Location**: Operations primarily in New Mexico and Texas - **Oil Production**: New Mexico produces 2 million barrels per day, Texas produces 6 million barrels per day, with EON currently producing approximately 1,000 barrels per day [4][6] Core Points and Arguments 1. **Funding and Financial Impact**: - EON closed a deal worth $45.5 million, which includes $20 million for a 15% overriding royalty interest in the Grayberg Jackson field and $20.5 million for a 5% overriding royalty interest in the San Andreas Formation [12][13] - The deal is expected to significantly improve the company's balance sheet by eliminating $35.6 million in debt and $5 million in unpaid accrued interest [18][19] - The company anticipates a net increase in income statement cash flows of $300,000 per month, with a reduction in interest expenses by $500,000 [20][21] 2. **Production Growth**: - EON aims to increase production from 1,000 barrels per day to over 5,000 barrels per day through waterflood production expansion and drilling of 90 new wells in the San Andreas Formation [6][24] - Each new well is expected to produce between 300 to 500 barrels of oil per day, with a total potential capital cost of $300 million for the drilling program [23] 3. **Partnership with Virtus Energy Partners**: - EON has entered a farm-out agreement with Virtus Energy Partners, where Virtus will operate with a 65% working interest while EON retains 35% [22] - The partnership is expected to enhance production capabilities and leverage Virtus's experience in the San Andreas region [24] 4. **Debt and Financial Flexibility**: - The company has eliminated major debt obligations, allowing for greater operational flexibility and potential for future acquisitions [7][14] - EON is now free from bank covenants, which previously restricted operational decisions [7][14] 5. **Future Outlook**: - EON is optimistic about future acquisitions, targeting properties that can be purchased at favorable multiples of EBITDA [29] - The company is focused on reducing operational costs, aiming for a lifting cost below $20 per barrel [39] Additional Important Insights - **Operational Efficiency**: The company is working to reduce general and administrative expenses and lease operating expenses, which are currently higher due to legal and consulting fees related to the recent deal [39] - **Market Position**: EON is positioned to capitalize on opportunities in the oil market, especially with reduced debt and improved cash flow [29][52] - **Shareholder Value**: The management emphasizes a commitment to enhancing shareholder value through strategic decisions and operational improvements [52] Conclusion EON Resources Inc. is poised for significant growth following a successful funding round and strategic partnership with Virtus Energy Partners. The elimination of debt and focus on increasing production capacity positions the company favorably in the competitive oil market.

Funding Closed and Farmout Agreement September 2025 CFO David M. Smith General Counsel Eon Resources Inc. NYSE-AM:EONR https://www.EON-R.com/ NYSEAM:EONR NYSEAM:EONR Presenters Dante V. Caravaggio CEO Mitchell B. Trotter Jesse J. Allen VP of Operations 2 NYSEAM:EONR Company Overview Leasehold Acres ~ 20,000 acres (two fields) Grayburg-Jackson Oil Field (Eddy County) & South Justis Field (Lea County) Fields Wells (Producing + Injection) ~ 750 wells across both fields Current Oil Production Over 1,000 barrels ...

Core Insights - EON Resources Inc. is an independent upstream energy company operating in the Permian Basin with significant leasehold acreage and production capacity [1] Company Overview - The company holds 20,000 leasehold acres in the Permian Basin [1] - EON has a total of 750 producing and injection wells [1] - The current production rate exceeds 1,000 barrels of oil per day [1]

HOUSTON, TX / ACCESS Newswire / September 24, 2025 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is an independent upstream energy company with 20,000 leasehold acres in the Permian Basin. The fields have a total of 750 producing and injection wells producing over 1,000 barrels of oil per day. ...

HOUSTON, TX / ACCESS Newswire / September 18, 2025 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is an independent upstream energy company with 20,000 leasehold acres in the Permian Basin. The fields have a total of 750 producing and injection wells producing over 1,000 barrels of oil per day. ...

HOUSTON, TX / ACCESS Newswire / September 18, 2025 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is an independent upstream energy company with 20,000 leasehold acres in the Permian Basin. The fields have a total of 750 producing and injection wells producing over 1,000 barrels of oil per day. ...

HOUSTON, TX / ACCESS Newswire / September 11, 2025 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is an independent upstream energy company with 20,000 leasehold acres in the Permian Basin. The fields have a total of 750 producing and injection wells producing over 1,000 barrels of oil per day. ...

Core Insights - EON Resources Inc. is an independent upstream energy company operating in the Permian Basin with significant leasehold acreage and production capacity [1] Company Overview - The company holds 20,000 leasehold acres in the Permian Basin [1] - EON has a total of 750 producing and injection wells [1] - The current production rate exceeds 1,000 barrels of oil per day [1]

Financial Data and Key Metrics Changes - The average price of oil dropped from $70 to $61 per barrel, but hedging mitigated this drop, keeping overall revenues flat [17][18] - Revenues remained level as hedging efforts offset a temporary dip in production [16] - Interest expense decreased by $230,000 per quarter compared to 2024, reflecting ongoing balance sheet improvements [17][20] Business Line Data and Key Metrics Changes - Production at the Grayburg Jackson field increased from approximately 800 barrels per day to about 920 barrels per day, with a goal to reach 1,400 to 1,500 barrels per day by year-end [12][30] - The South Justice field's production rose from 88 barrels per day at acquisition to 117 barrels per day after reactivating idle wells [36][37] Market Data and Key Metrics Changes - The company is targeting funding between $40 million and $50 million to support operations and reduce debt [8][27] - The company anticipates being cash flow positive in Q4 2025, with a significant increase in cash flow expected from debt reduction [13][14] Company Strategy and Development Direction - The company is focused on increasing production through horizontal drilling, with plans to kick off a drilling program in late Q1 2026 [35][62] - Management aims to retire senior debt and seller obligations, which will significantly enhance cash flow [13][27] - The company is exploring overriding royalty interest (ORE) as a financing strategy to avoid dilution of shares and reduce financial risk [58][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about transitioning from a struggling company to a more successful entity, with significant potential for growth in 2026 [40][84] - The management team is confident in their ability to navigate the current oil market, despite potential price fluctuations [47][48] Other Important Information - The company has made significant progress in reducing general and administrative costs, with ongoing efforts to further decrease expenses [19][73] - The company has successfully reduced senior debt from $28 million to approximately $21 million [20] Q&A Session Summary Question: What are the expectations for oil prices going into winter? - Management indicated that oil prices may remain in the $60 range, with geopolitical factors influencing market conditions [46][48] Question: Will Chevron be purchasing the oil produced from new wells? - Management confirmed Chevron's interest in purchasing increased production, indicating a positive relationship with the buyer [52] Question: How important are the four rigs on both properties for the next two quarters? - Management emphasized the critical role of the rigs in boosting production, with plans to optimize their use across fields [69][70] Question: Is there a plan to reduce legal consulting expenses? - Management acknowledged ongoing discussions to reduce costs and improve efficiency in legal and consulting services [72][73] Question: What is the expected impact of horizontal drilling on production? - Management explained that horizontal drilling could significantly increase production rates, potentially yielding 400 to 600 barrels per day per well [63][64]