EON management announced today that the two carried-interest horizontal San Andres wells in the Grayburg-Jackson Field in Eddy County, New Mexico are now producing as post-stimulation cleanup operations continue on both wells. The planned development program reached an important milestone this week with the sale of the first load of oil from the horizontal San Andres development.

Both wells remain in the early stages of cleanup. Additional production history will be necessary before their performance can be meaningfully evaluated. "The Company will communicate further development and production updates in due course," said Dante Caravaggio, President and CEO of the Company.

Capital planning for 2027 is underway, including potential additional activity in the Grayburg-Jackson Field.

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