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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.

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<ul><li>The Katmai West #2 appraisal well is expected to commence production toward the end of 2Q25.</li><li>Gross deliverability from the well, which encountered more than 400 feet of gross hydrocarbon pay in the primary reservoir objective, is estimated to be ~15-20 MBOE/d.</li><li>Performance from the Katmai West #1 well, together with the results from this well, has nearly doubled the estimated proved reserve ultimate recovery to ~50 million BOE (gross) and supports Talos’ total estimated resource potential of ~100 MMBOE (gross).</li></ul>

The Katmai West #2 appraisal well is expected to commence production toward the end of 2Q25.Gross deliverability from the well, which encountered more than 400 feet of gross hydrocarbon pay in the primary reservoir objective, is estimated to be ~15-20 MBOE/d.Performance from the Katmai West #1 well, together with the results from this well, has nearly doubled the estimated proved reserve ultimate recovery to ~50 million BOE (gross) and supports Talos’ total estimated resource potential of ~100 MMBOE (gross).

Talos Energy Inc. - Estimate Update; Testing High-Impact Prospects in 1H25