Vanna Production currently holds approximately 55,000 net leasehold acres across Leon, Freestone, Anderson, and Houston Counties, Texas. The prospect lies within the Bald Prairie Field (Western Haynesville) and targets the deep Bossier and Haynesville formations, which have recently delivered wells with projected EURs exceeding 50 Bcf. This position represents an extension of Vanna’s previously divested acreage described below.  Vanna is in the final stages of executing agreements with an undisclosed operator to form a Joint Operating Partnership, with an anticipated closing date in early October 2025. Drilling operations are expected to commence immediately thereafter, with Vanna maintaining a non-operating working interest in the newly formed joint operating area. 

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Previously, Vanna Production acquired approximately 46,500 net leasehold acres in the Bald Prairie Field spanning Robertson, Leon, and Freestone Counties, also targeting the deep Haynesville and Bossier formations. In June 2024, Vanna divested 75% of its working interest through a joint operating partnership with Mitsui E&P U.S.A. Mitsui currently operates two active rigs on that acreage, where Vanna continues to participate as a non-operating partner.