The Albany Gazette - EON Resources Inc. Outlines Strategic Plan to Transition Development Potential into Producing Value

HOUSTON, TX / ACCESS Newswire / October 30, 2026 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") today announced through Dante V. Caravaggio, CEO, its strategic operational and capital allocation framework focused on transitioning identified portfolio opportunities into producing wells, measurable reserves, and sustainable cash flow.

Financing Flexibility to Support Execution
EON has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) covering 20 million shares of common stock in connection with its previously announced $150 million equity line of credit with White Lion. Subject to the facility's terms, restrictions, and prevailing market conditions, the Company retains the discretion to determine whether and when to sell shares to White Lion under the facility for immediate cash proceeds. The Company currently has $138,869,414 in remaining facility capacity and has not drawn down on this facility since November 14, 2025.

Management recognizes that issuing shares poses a potential dilution risk to existing ownership. The Company's capital management strategy is designed to balance equity costs against the potential returns of drilling and strategic acquisitions, while prudently evaluating debt financing alternatives where appropriate to maximize underlying value per share.

Asset Portfolio and Defined Development Agenda

• San Andres Formation: The Company's primary focus is the development of the San Andres formation interval in the Grayburg-Jackson Field utilizing horizontal drilling. Management previously estimated that successful development of this interval could ultimately contribute approximately $95 million in future Proved Developed Producing (PDP) PV-10 value to the Company. The initial phase of the San Andres development program is estimated to require a capital investment of approximately $15 million to $25 million for EON's proportionate share. These estimates remain subject to final financing, drilling performance, commodity prices, supply costs, and other operational variables. The projected value does not currently constitute established SEC-qualified PDP reserves.
• South Justis Unit: The South Justis Unit presents a secondary avenue for

growth, including potential horizontal development in the Yesos formation. While management believes this asset holds meaningful potential, the timing, scope, and quantification of value creation remain subject to thorough technical validation, economic results, and capital availability.

Prospective Capital Allocation Benchmark
The Company has established a prospective capital allocation objective to target adding at least $2 in additional PDP PV-10 reserve value through drilling, development, and acquisitions for every new share of common stock issued. Management emphasizes that this target is a prospective capital allocation benchmark used for investment underwriting and project evaluation. It does not constitute a forecast of financial performance, a commitment to return $2 in cash per share to stockholders, a stock price forecast, or a guarantee that equity dilution will be fully offset.

Achieving this PV-10 target depends on multiple variables, including final financing terms, the volume and pricing of shares issued, prevailing commodity prices, formal engineering reserve estimates, future development and operating costs, and the successful conversion of non-producing opportunities into proved developed producing reserves. Stockholders should assess the Company's progress based on actual reported reserves, audited production metrics, and GAAP cash flows.

Strategic Priorities
EON's operational priorities include securing appropriately structured capital, advancing its top-tier drilling opportunities, executing disciplined underwriting on potential acquisitions, and maintaining transparent communication of operational milestones. Management intends to measure its upcoming progress through tangible data points, including well results, formal reserve assessments, capital efficiency, and overall production output.

About EON Resources Inc.
EON Resources Inc. is an independent energy company engaged in the acquisition, development, and production of oil and natural gas properties.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release, including statements regarding access to financing, the Form S-1 registration statement, drilling plans and costs, future reserve classifications, PV-10 estimates, prospective well performance, strategic acquisitions, cash flow, and capital allocation targets, are forward-looking statements. These statements reflect management's current assumptions, expectations, and projections about future events and involve significant risks and uncertainties that may cause actual results to differ materially from those expressed or implied.

Risks and uncertainties include, but are not limited to: the availability and terms of financing; potential equity dilution; volatility in commodity prices for oil and natural gas; geological and engineering uncertainties; drilling and operational performance; inflationary pressures on equipment and labor; regulatory and environmental requirements; and other risk factors discussed in EON's filings with the SEC, including its Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. EON undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Note on Non-GAAP Financial Measures
PV-10 is a non-GAAP financial measure that represents the present value of estimated future gross revenues to be generated from the production of proved reserves, net of estimated production and development costs, discounted at an annual rate of 10%, before income taxes. SEC rules explicitly require the Standardized Measure of Discounted Future Net Cash Flows to include the effects of future income taxes. Management believes that PV-10 is a useful supplemental measure for evaluating the relative economic value of oil and gas properties without regard to the specific tax characteristics of the corporate entity. However, PV-10 should not be considered in isolation or as a substitute for the SEC Standardized Measure, GAAP net income, or operational cash flows.

Investor Relations Contact:
Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
[email protected]

SOURCE: EON Resources Inc.

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(A.Johnson--TAG)