Note 19 – Subsequent Events

Edge Acquisition

On July 2, 2025, the Company entered into an agreement to acquire certain assets from Edge Energy II LLC (“Edge Energy”) for a total purchase price of $12.5 million (the “Edge Acquisition”). The Edge Acquisition consists of 47 operated and non-operated wells on approximately 11,000 net acres. The Company expects to close the Edge Acquisition in the third quarter and plans to fund the closing by borrowing on its Credit Facility.

Third Exok Asset Purchase

On August 8, 2025, the Company completed the third portion of the original Exok Asset Purchase and acquired approximately 5,500 net acres from Exok for $1.3 million.

Bayswater Acquisition Final Settlement

On July 25, 2025, the Company received the final settlement statement from Bayswater, which will be reflected in the third quarter financial statements. Refer to Note 3 – Acquisitions for a full discussion of the Bayswater Acquisition.

Series F Preferred Conversions

Throughout July 2025, the Series F Preferred Stockholder converted 13,000 shares of Series F Preferred Stock into 4,612,000 shares of Common Stock using the Alternative Conversion. Refer to Note 13 – Mezzanine Equity for a full discussion of the Series F Preferred Stock.