Slide 1: EON Resources Inc. Conference Call – April 2025
EON Resources Inc. Conference Call – April 2025 NYSE American: EONR https:// www.EON - R.com/
Slide 2: Presenters
Presenters • Michael J. Porter – Investor Relations • Dante V. Caravaggio – CEO • Mitchell B. Trotter – CFO • Jesse J. Allen – VP of Operations 2
Slide 3: Why Invest in EON Resources?
Why Invest in EON Resources? • World class Permian asset with 1 billion original barrels in place • Repaired and upgraded most of the field condition issues in 2024 • Agreement with Seller has huge benefits (see press release on Feb 11 th ) • Reduced the original $120 million purchase price to $60 m
Slide 4: Why Invest in EON Resources? (continued)
Why Invest in EON Resources? (continued) • H orizontal drilling program in the San Andres (see Feb 26 th press release ) • Possible recovery of an additional 20 million barrels of oil • 50 well locations have been identified with an estimated recovery of 300 to 400 BOPD per well • Immense upside pot
Slide 5: Financials – Income Statement Summary
Financials – Income Statement Summary • Revenues generated from cash was approximately $5.0 million plus per quarter. Derivatives had a non - cash expense impact on revenues as described on another slide • G&A were impacted by professional fees and equity - based costs as described on another slide
Slide 6: Cash Revenues Averaged $5 Million per Quarter
Cash Revenues Averaged $5 Million per Quarter • Oil revenues were impacted by: • Production was stable for the year • Average oil sold price per barrel fluctuated by quarter driving the changes by quarter • Our hedge position was over 70% and $70 for 2024 • Derivatives impact is mostly a non - cash
Slide 7: Production Impact on P&L
Production Impact on P&L • Seven Rivers fracs expected to average 20 BOPD • First frac is averaging 20 BOPD • Initial frac package plan is for three wells • Horizontal drill program expected to average 300 to 400 BOPD per well • Program expected to start in 2026 with three wells at a time • Several
Slide 8: General and Administrative (“G&A”) Cost Summary
General and Administrative (“G&A”) Cost Summary • Equity based costs of $2.8 million included in G&A are comprised of: • Employee related equity instruments: $700K • Acquisition related costs and fees via equity: $1.6 million • Stock in lieu of A/P and liabilities: $500K • Professional fees for lega
Slide 9: Non-Cash Expenses
Non - Cash Expenses 1. Hedging derivatives : Driven by oil prices at end of each quarter 2. G&A : includes non - cash equity costs of: fees & liabilities paid in equity of $2.1 million; and $700K of employee related expenses 3. Warrant liability : changes based on stock price at end of quarter 4. De
Slide 10: Balance Sheet Summary
Balance Sheet Summary • Debt and equity components on following slides • Company has made, and is continuing to, improvements to the balance sheet • FPA contract and liability was resolved and cleared in Q4 • Select payables and liabilities were cleared via equity issuance • Conversion of Private Lo
Slide 11: Debt Structure as of December 31, 2024
Debt Structure as of December 31, 2024 • 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 $
Slide 12: Equity Structure as of December 31, 2024
Equity Structure as of December 31, 2024 • Common stock : There were 10 million shares of Class A common stock and 500K shares of Class B common stock outstanding. • The Class B common stock has voting rights only and can be converted on a one - for - one basis for Class A common stock • Preferred s
Slide 13: Funding Options
Funding Options • The Company is opposed to using excessive amount of equity for fund raising. Options for a properly balanced approach are: • Volumetric funding • Debt financing • Equity instruments • Volumetric funding as described in our March 20 th press release • A production/revenue sharing in
Slide 14: Operations – 2024
Operations – 2024 • Safety – No reportable incidents • 2024 highlights • Stabilized production • Water and flowline repairs and upgrades • Electrical repairs and upgrades • Purchased key pumps, hot oiler, well testers, etc. • Reduced LOE from Q1 and before runrates 14
Slide 15: Operations – Increasing Production
Operations – Increasing Production • Plans to increase production • Sand fracs with low temperature RCS has been successful • Bringing back on - line down wells and injection wells • Horizontal well program 15
Slide 16: Questions & Thank You for Attending
Questions & Thank You for Attending NYSE American: EONR https:// www.EON - R.com/
Slide 17: Disclaimer
Disclaimer • This presentation of EON Resources Inc. (“EON” or the “Company”) shall not constitute a “solicitation” as defined in Rule 14a - 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 othe
Slide 18: 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