EON Resources announces conference call to discuss South Justis acquisition

EON Resources (EONR) will hold a special conference call to update and educate investors regarding the recent acquisition of the South Justis Field in the Permian Basin in Lea County, NM by EON Energy, its wholly owned subsidiary. Among the topics to be discussed are production, producing zones, cash flow, plans for the remainder of the calendar year and future expansion. On June 20, EON announced its wholly owned subsidiary, EON Energy, LLC, entered into a Purchase and Sale Agreement with WPP NM and Northwest Central. to acquire all of their respective interests in the South Justis Field located in the Permian Basin in Lea County, New Mexico. The Company will exchange 1M Class A common shares of EON without any cash consideration or debt for EON Energy, LLC to acquire a 94 percent working interest in the South Justis Field. With the estimated $1.2M in net annual cash flow, the transaction is expected to be accretive; the effective date of the acquisition is June 1, 2025. South Justis is currently producing 108 barrels of oil per day from 19 actively producing wells, which adds $1.2 million in net cash flow annually with minimal impact to the EON’S G&A costs. The property includes 5,360 leasehold acres with a total of 208 wells – half are oil-producing, half are water injection wells. Dante Caravaggio, President and CEO will chair the call; Mitchell B Trotter, CFO, and Jesse Allen, VP of Operations, will also speak with investors and answer questions.