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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>Management estimates that HighPeak’s D,C,E,&amp;F costs are ~$2 million lower for a well that recovers a similar volume of oil than the average central Midland Basin well.</li><li>The combination highlights the return proposition for HighPeak’s acreage, as recovering similar oil volumes for less than 75% of the D,C,E,&amp;F cost equates to a capital-efficient asset base.</li><li>New wells drilled during 2024 in the northern and northeastern extension areas have expanded Flat Top’s development core, adding new inventory.</li></ul>

Management estimates that HighPeak’s D,C,E,&amp;F costs are ~$2 million lower for a well that recovers a similar volume of oil than the average central Midland Basin well.The combination highlights the return proposition for HighPeak’s acreage, as recovering similar oil volumes for less than 75% of the D,C,E,&amp;F cost equates to a capital-efficient asset base.New wells drilled during 2024 in the northern and northeastern extension areas have expanded Flat Top’s development core, adding new inventory.

HighPeak Energy, Inc.: - New Completions Further Derisk Acreage

HighPeak Energy Inc

HighPeak Energy, Inc.: - New Completions Further Derisk Acreage