EON Resources Inc. Leadership Acquires 301,000 Shares of Class A Stock

Houston-based EON Resources Inc. announced that its management and directors bought 301,000 shares of Class A Common Stock. This purchase was made between the South Justis Field acquisition announcement and the quarter-end black-out period. CFO Mitchell B. Trotter highlighted the significance of this acquisition window.

CEO Dante Caravaggio expressed optimism regarding upcoming developments. EON expects Enstream to provide $52 million for debt payment and oil well workovers, enhancing their balance sheet and oil production. Additionally, EON plans to partner with a drilling entity for $50-$100 million investment to develop San Andres reserves. While deals are anticipated to close in August, there is no assurance.