Evolution Petroleum Q2 net income $6.8M, raises dividend to $0.10, acquires Jonah Field for $29.4M

EVOLUTION PETROLEUM CORP

Net income $6.8M ($0.20 diluted EPS) vs $5.2M ($0.16) prior quarter; revenue $22.3M up 18%.
Board declares increased quarterly dividend of $0.10/share, payable March 31, 2022 to holders of record March 15.
Enters agreement to acquire non-operated working interest in Jonah Field, Wyoming for $29.4M cash.
Acquisition adds 14.2 MMCFepd production, 42 BCFe proved reserves, expected close on or about April 1, 2022.
Adjusted EBITDA $10.2M, cash $13.6M, no net debt; post-close debt expected below 1x annualized EBITDA.

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