EON Resources acquires South Justis Field in Permian for 1M shares; sees $1.2M annual cash flow

EON Resources Inc.

Acquired South Justis Field on June 20, 2025 for 1M shares (value ~$525k); 94% WI, 82% NRI.
5,360 acres, 19 active wells producing 108 BOPD; EON estimates 15M barrels recoverable reserves.
Plans to reactivate 30+ idle wells in 2025, targeting field production of 250-400 BOPD.
Estimated net annual cash flow ~$1.2M; increases oil in place 20% and acreage 33%.
PDP net oil 150 MBBL, PDNP 361 MBBL; low decline rate, similar to existing LHO field.

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