Slide 1: EON Resources Inc. Corporate Slide Presentation August 2025
EON Resources Inc. NYSE American: EONR Corporate Slide Presentation August 2025
Slide 2: Disclaimer
Disclaimer • This presentation of EON Resources Inc . (“EON” or the “Company”) shall not constitute a “solicitation” as defined in Rule 14 a - 1 of the Securities Exchange Act of 1934 , as amended . • This presentation is not an offer, or a solicitation of an offer, to buy or sell any investment or
Slide 3: Disclaimer: Forward-Looking Statements
Disclaimer • Forward - Looking Statements • Statements in this presentation which are not statements of historical fact are “forward - looking statements” . Our forward - looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, belief
Slide 4: Investment Highlights
Investment Highlights 4 Plentiful Asset: 1.2 billion barrels of OOIP – expect to triple proven reserves in next 3 - 4 years Increasing Production: Production expected to increase by 1,000 bbl/day in next 24 months Operation Excellence: Strategy to reduce lifting costs Capital Efficient: Oil Rich + W
Slide 5: Strategic Priorities and Objectives
Strategic Priorities and Objectives 1. Maximize Shareholder Value : Maximize total returns to the shareholders by growing through acquisition, and the development of our properties 2. Build the Team and a Public Company : EON has e xperienced oil & gas industry professionals with a strong network 3.
Slide 6: The Team
The Team 6 Dante V. Caravaggio CEO & Director Mitchell B. Trotter CFO & Director David M. Smith, Esq. VP, General Counsel Jesse J. Allen VP of Operations • 40+ years of experience in the oil and gas industry. • Executive and program management positions with Kellogg Brown and Root, Parsons Corp, Jac
Slide 7: The Team (continued)
The Team (continued) 7 Mark H. Williams VP of Finance & Admin Xuan (Sun) Vandeberg Special Projects P. David O’Brian Field Superintendent • 3 0+ years of experience in various controller roles with major global public companies. • Managed teams in multiple countries supporting business operations, b
Slide 8: Optimizing Production
Optimizing Production • What was done? • Predecessor transitioned to a waterflood approach in the Seven Rivers zone in 2020 • The EON team is upgrading infrastructure that has been restricting the increase of production • Production was stabilized by the EON team and production is starting to tick u
Slide 9: Reducing Costs
Reducing Costs • The management and field leadership team are on an on - going basis, reviewing areas to identify where we can: enhance maintaining of the field; reduce lift and cap - ex expenditures; and increase production • Using a scientific and analytical approach is expected to reduce workover
Slide 10: Responsible use of Capital Spend
Responsible use of Capital Spend • The Grayburg - Jackson oil field has 550 existing wells that can be utilized to recover proven reserves without new drilling, and hence significant upfront capital spend can be avoided • The team of petroleum engineers and geologists are studying well responses to
Slide 11: Industry and Acquisition Strategy Overview
Industry and Acquisition Strategy Overview • EON is an independent energy company with an acquisition and value creation strategy focused on building a company in the energy industry in North America that complements the experience of our management team and can benefit from our operational expertis
Slide 12: Operations Overview
Operations Overview
Slide 13: Oil & Gas Operations Overview
Oil & Gas Operations Overview • Our first two acquisitions are located in New Mexico approximately 100 miles apart, which enhances operations management • Both the Grayburg - Jackson and South Justis fields are in the prolific Permian Basin • The fields are waterflood properties with significant oil
Slide 14: Permian Basin – Most Promising Oil Reserves in the U.S.
Anadarko , 6,587 , 7% Appalachia , 35,953 , 36% Bakken , 3,392 , 3% Eagle Ford , 7,508 , 7% Haynesville , 16,559 , 17% Niobrara , 5,193 , 5% Permian , 24,745 , 25% Permian Basin – Most Promising Oil Reserves in the U.S. • Contributes 62% of the total oil output of the U.S. • C ontribute 25% to the o
Slide 15: Waterflood Operations – Creating a Steady Revenue Stream
Waterflood Operations – Creating a Steady Revenue Stream • The waterflood process uses the injection of water into an oil - bearing reservoir for pressure maintenance to stimulate oil flow through the rock to the producing well for oil and gas recovery • A waterflood property has long - lasting, low
Slide 16: Horizontal Drilling – Tapping Potential Oil Reserves
Horizontal Drilling – Tapping Potential Oil Reserves • Horizontal drilling is a drilling technique where a well is drilled at a near - horizontal angle, extending laterally through an oil or gas reservoir. • This method is particularly useful for accessing oil and gas reserves that are spread out ho
Slide 17: Grayburg-Jackson Field (GJF)
Grayburg - Jackson Field (“GJF”)
Slide 18: Grayburg-Jackson Field Overview
• The first acquisition was the Grayburg - Jackson Field (“GJF”) which is a waterflood property operated by the EON subsidiary LH Operating, LLC (“LHO”) • The property is located on the Northwest Shelf of the Permian Basin which according to the U.S. Geological Survey contains the largest recoverabl
Slide 19: Land and Ownership Overview
• ~13,700 gross acres • 23 Leases (20 BLM and 3 State leases) • 100% WI with 74% average NRI • 100% Operated and 100% HBP • Original Oil in Place is 876,159,746 barrels of oil • Title opinion coverage on 97% of PDP PV10 value BLM Leases NM State Leases LH Leases with Title Opinion LH Leasehold <75%
Slide 20: The Oil Field – GJF
The Oil Field – GJF • The GJF has several large reservoir structures. The EON intervals range from as shallow as 1,500 feet deep to 4,000 feet deep • The EON field has attainable proven reserves of approximately 20 million gross barrels of crude oil and 5 billion cubic feet of natural gas • Original
Slide 21: EON Oil Potential is Huge – Grayburg-Jackson Field
EON Oil Potential is Huge – Grayburg - Jackson Field 2 1 The oil and gas quantities of the original - oil - in - place (“OOIP”), reserves and potential recovery are all based on reports and letters from our third - party engineering firm William M. Cobb & Associates, Inc. Specifically, the reserve r
Slide 22: Regulatory Production Pool: 7R-Q-GB-SA
Regulatory Production Pool: 7R - Q - GB - SA Period Epoch Approx. Regional Thickness (ft) 200-400 100 1,000 200 200 500 200-500 300 1,500 100 Paddock Blinebry Tubb Drinkard 1,000 Wolfcampian 0-1,500 Guadalupian Leonardian 1,500 Formation Grayburg San Andres Glorieta Yeso Abo Wolfcamp Permian Ochoan
Slide 23: Seven Rivers (7R) – Development History
10 100 1,000 10,000 10 100 1,000 10,000 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 Seven Rivers (7R) – Development History LH Operating Gross Historical Production (All Horizons) Depositional Setting LH Operating Regional Setting GYBG - JACKSON 120 MMBO Cum MALJA
Slide 24: Seven Rivers (7R) Waterflood Development
Seven Rivers (7R) Waterflood Development 7R PDP Response (95 Patterns) – Gross Oil (BOPD) 7R Waterflood Development Pilot Response Starts Early 2020 Current 7R Waterflood Response • LH Operating’s 7R WF work began late 2019 in the H E West B 4 - pattern pilot with initial production response in Febr
Slide 25: Horizontal Drilling Program – GJF
Horizontal Drilling Program – GJF • Based on our analysis and study, the horizontal drilling potential is in the lower San Andres reservoir of the GJF • The assessment reveals possible recovery of an additional 20 million barrels of oil and 16 billion cubic feet of natural gas • There are potentiall
Slide 26: South Justis Field (SJF)
South Justis Field (“SJF”)
Slide 27: South Justis Field Overview
• The second acquisition was the South Justis Field (“SJF”) which is located in Lea County, New Mexico in the Permian Basin approximately 100 miles from the GJF. • The SJF comprises 5,360 contiguous leasehold acres, 130 producing wells and 78 injection wells for a total of 208 wells. • The Company h
Slide 28: South Justis Field – Field Maps
South Justis Field – Field Maps (approx. 60 miles South of Hobbs) 28 Grayburg - Jackson Field in T17S - R31E (~100 miles away)
Slide 29: The Oil Field – SJF
The Oil Field – SJF • The producing zones in the SJF are at a depth of 5,000 feet to 7,000 feet in the Glorietta, Blinebry, Tubb, Drinkard and Fusselman intervals. • Original Oil in Place (“OOIP”) was 207 million barrels of oil with 30 million barrels produced to date • Reserves based on internal an
Slide 30: South Justis Field – Decline Curve Analysis (PDP & PDNP)
South Justis Field – Decline Curve Analysis (PDP & PDNP) 3 0
Slide 31: Financials
Financials
Slide 32: Income Statement Summary – Costs are Reducing
Income Statement Summary – Costs are Reducing 32 • Revenue impacts from production, prices and derivatives are described on another slide • G&A reductions and other impacts are described on another slide • Lease operating expenses dropped to $665K per month from the $718K average for 2024 • Interest
Slide 33: Revenues – Hedging Program Mitigates Oil Price Drop
Revenues – Hedging Program Mitigates Oil Price Drop 33 • Oil revenues were impacted by: • Production incurred temporary dip that rebounded in July • Actual average oil sold price per barrel was down for the quarter • Hedging at $70.00 recouped $290K of cash • Hedging derivative impact was a positive
Slide 34: G&A Costs – Impact from Reductions Started in Q1
G&A Costs – Impact from Reductions Started in Q1 34 • Salaries and fees decreased starting Q1 by $300K - plus per quarter • Equity based costs of $138K were incurred in accordanc e with consulting contracts • Professional fees for legal, audit and consulting services primarily reflect reporting requ
Slide 35: Debt Structure as of June 30, 2025
Debt Structure as of June 30, 2025 • Reserve Based Loan (“RBL”) : First International Bank & Trust (“FIBT”) provided at $28 million RBL at acquisition closing. • The debt has a five - year amortization schedule with maturity in three years, and an interest rate of 15 percent. • The balance was $21.4
Slide 36: Equity Structure as of June 30, 2025
Equity Structure as of June 30, 2025 • Common stock : There were 34 million shares outstanding. • Preferred stock : There are no preferred stock shares issued on the 1.0 million shares authorized, and there are no designated classes of preferred stock. • There are $15 million of preferred units at a
Slide 37: Thank you for your interest in EON
Thank you for your interest in EON