EON Resources Inc. Announces Iran Conflict has Accelerated Drilling, Workover and Acquisition Plans

About this update from Eon Resources Inc.

HOUSTON, TX / ACCESS Newswire / April 8, 2026 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is an independent upstream energy company with 20,000 leasehold acres in the Permian Basin. The fields have a total of 750 producing and injection wells producing over 1,000 barrels of oil per day. Today, the Company announced that the Company took advantage of the latest spike in oil prices over $110 to fully hedge 75 percent of net production through 2027. This action facilitates favorable lending rates from conventional banks for potential capital raises for the acceleration of workovers, drilling and acquisitions in 2026. The impact of the Iranian conflict has driven oil prices up over the past month. Global oil prices are expected to remain elevated in the near term. With the increases in oil prices, the Company's realized oil price for both hedged and unhedged (naked) barrels should result in higher revenues and provide EON the opportunity to accelerate drilling, workovers and acquisition activities. EON expects to bring 500 net barrels of oil per day ("BOPD") on line in the next four months, plus an additional 1,000 net BOPD by the end of 2026. The 500 BOPD is estimated to be the result of pre-funded May 2026 workovers, and the drilling of three San Andres horizontal wells in June 2026 that are without cost to EON under the Farmout Agreement to the Farmee. The additional 1,000 net BOPD is the anticipated result of 7 to 10 new San Andres horizontal wells scheduled to be drilled in the fourth quarter of 2026 at a total cost of $3.4 million each of which EON will bear its 35 percent share. Each new horizontal well is expected to produce 400 gross BOPD with the 7 to 10 new horizontal wells generating a total of 2,800 to 4,000 gross BOPD. The drilling and completion of 10 new horizontals wells in Q4 will require a capital investment of $14 million attributable to the Company's 35 percent working interest. The Company expects to self-fund the significant portion of EON's cost. The Company plans to consider additional funding options if acceptable terms can be secured. "The impact of an additional 1,500 BOPD of unhedged net oil production at $75 per barrel is approximately $3 million per month in revenue as we enter 2027 making the payout of our $14 million outlay in drilling and completion costs i...

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