Evolution Petroleum closes $26.2M Jonah Field acquisition, boosting production 37%

EVOLUTION PETROLEUM CORP

Acquired non-operated natural gas assets in Jonah Field, WY for $26.2M net, funded via cash and $17M credit facility draw.
Added 19.6% avg working interest in 595 producing wells, 956 net acres; current net production ~2,141 BOE/d (88% gas).
Pro forma net daily production increases 37% to ~8,000 BOE/d; adds ~38 Bcfe of PDP reserves.
Operator is Jonah Energy; transaction accretive to cash flow, supports quarterly dividend restored to pre-pandemic level.
Management to discuss acquisitions on investor call April 6, 2022.

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