Eon NRG- A Quick Look At Highly Experienced Management Team

Exploration and production company, Eon NRG Limited (ASX: E2E) owns and operates producing oil and gas fields in onshore USA (Wyoming and California). The company currently produces approximately 530 boepd of oil, gas and natural gas liquids from its four fields that it owns and operates.

As part of the company’s exploration and development strategy, Eon recently acquired more than 15,000 acres of leases in the prolific Powder River Basin (PRB) in which it has identified high-grade prospects. The company is expecting to drill new wells from these prospects, and it has already commenced the permitting of the first PRB well, The Govt Kaehne #9-29, located in Crook County, Wyoming. Considered as a low-risk conventional well, The Govt Kaehne #9-29 will significantly add to the company’s existing 530 boepd production.

Through a detailed geological review of the PRB leases, Eon has identified additional multiple high impact drilling prospects, two of which are anticipated to be drilled in 2020.

The company has a highly experienced management team that is being currently headed by the Chairman Mr. Mark Stowell who was the founder and Director of Incremental Petroleum Ltd from its inception in 2003 until its sale in 2009. He has more than 25 years of rich experience in the public company corporate sector.

Further, the Company’s Managing Director, Mr. John Whisler has a rich exposure in leading, developing, and implementing projects that have created value in the oil and gas industry. He has a successful track record of managing and growing both private and public exploration and production companies. In his 25 years of experience in the US oil and gas industry, he has covered many aspects of operations, including exploration, business development, divestures and acquisitions, corporate and project management, financial and economic analysis, field operations, production and extensive experience in drilling and completions.

Besides Mr. John Whisler, the company’s other US-based employees are also having extensive experience in successfully developing oil fields through drilling new wells across a range of basins and formation types.

The Company’s Technical Director Mr. Gerry McGann has over 40 years’ experience in the upstream oil and gas industry. As a certified petroleum geologist, he has been involved in the discovery of oilfields in Australia, the Middle East, and the North Sea.

The Company Secretary and CFO Mr. Simon Adams has a wide range of experience in the area of corporate and financial management, corporate compliance and business development. He has served 12 years with Atlas South Sea Pearl Ltd which is a listed pearl production and distribution company, in the capacity of CEO and CFO.

The company’s Director Mr. Matthew McCann has served as CEO at TransAtlantic Petroleum Ltd which is an oil and gas exploration and production company. While working in TransAtlantic Petroleum he was instrumental in growing TransAtlantic from a junior explorer to a significant international oil and gas producer.

The Company’s focus had been to acquire long life, late-stage oil fields that had potential production upside through the development of behind pipe reserves and enhancement in secondary oil/gas recovery which adds cash flow and reserve value to the business.  With positive cash flow from the existing fields supporting overhead costs, the company has adjusted its future development strategy to give it exposure to high impact virgin production that comes from drilling new wells.

We would see how the company has performed in the recent past. At the time of writing (12 March 2019 AEST 01:44 PM), the share price of the company is trading at $0.006 with the market capitalization of ~$4.62 Million. Talking about the past performance, the stock price of Eon NRG Ltd has delivered the return of 12.50% in the time frame of the previous six months. It had a 52-week high price of $0.031 and touched 52 weeks low of $0.004, with an average volume of ~ 6,114,654.


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