Acquisition Highlights - EON Resources Inc acquired South Justis Field (SJF) in Lea County, New Mexico on June 20, 2025[4] - The purchase price was 1 million shares of Class A Common Stock[4] - The acquisition is estimated to generate $1.2 million in net annual cash flow[4] - The working interest is 94% and the net revenue interest is 82%[4] South Justis Field Profile - The field spans 5,360 acres with 208 producing and injection wells[5] - Current production is 108 barrels of oil per day (BOPD) from 19 actively producing wells[5] - Original Oil in Place (OOIP) was 210 million barrels of oil, with 30 million barrels produced to date[5] - EON believes there are 15 million barrels of recoverable reserves[5] Economics and Development Plans - Reactivation of 30 additional wells is planned, with an expected average production of 5-10 BOPD per well[8] - The target is to yield field-wide production of 250 to 400 BOPD[8] - At a stock price of $0.50, the price per flowing barrel is $5,000[10] - Reactivating half of the targeted 30 wells is projected to increase net monthly production by 2,494 barrels, resulting in incremental cash flow of $89,751[10] Summary - The acquisition increases Oil in Place by 20% and acreage in the Permian by 33%[12] - It also increases production by 10%[12]