Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

Riley Exploration Permian / Equity Bottom-Up

<ul><li>Riley agreed to expand its core position in New Mexico’s Yeso Trend through the $142-million acquisition of Silverback Exploration II LLC.</li><li>The acquisition, which is scheduled to close early in 3Q25, will add &gt;300 estimated gross development locations in the Yeso Trend plus ~50 overlapping gross locations that increase Riley’s existing working interest in the wells.</li><li>Around the time of signing the agreement on May 3, 2025, total production was ~5,000 Boe/d (52% oil/75% liquids).</li></ul>

Riley agreed to expand its core position in New Mexico’s Yeso Trend through the $142-million acquisition of Silverback Exploration II LLC.The acquisition, which is scheduled to close early in 3Q25, will add &gt;300 estimated gross development locations in the Yeso Trend plus ~50 overlapping gross locations that increase Riley’s existing working interest in the wells.Around the time of signing the agreement on May 3, 2025, total production was ~5,000 Boe/d (52% oil/75% liquids).

Riley Exploration Permian, Inc: Yeso Core Area Expansion Adds Economic Development Inventory