Press Releases

CERTIFIED PROVEN RESERVE PV10 VALUE UP 135% HOUSTON, Feb. 14, 2024 (GLOBE NEWSWIRE) — Equus Total Return, Inc. (NYSE: EQS) (“Equus”) today announced that its wholly-owned subsidiary Morgan E&P, LLC (“Morgan”), has received from Cawley, Gillespie & Associates, Inc. (“CG&A”) an updated reserve estimate as of January 1, 2024. Morgan continues to acquire mineral rights in the Bakken/Three Forks formation in the Williston Basin of North Dakota, and on December 18, 2023, announced an increase in its acreage in this area from 4,747.52 net acres to 5,976.84 net acres, an increase of 1,229.32 net acres, or approximately 25.9%. Morgan engaged

Completes Sale of Wellbore Working Interest For $5.6 Million Gross Oil Production Over 1,000 Barrels Per Day HOUSTON, Feb. 13, 2024 (GLOBE NEWSWIRE) — Equus Total Return, Inc. (NYSE: EQS) (“Equus”) today announced that Morgan E&P, LLC (“Morgan”), a wholly-owned subsidiary of Equus, has completed its first two wells in Billings County, North Dakota, the Baranko 1-28H and the Obrigewitch 1-33H. Morgan received its drilling permits from the North Dakota Industrial Commission (“NDIC”) in September 2023 and successfully completed drilling in October. Both wells, along with construction of production facilities, were completed by the end of November. Morgan drilled both

HOUSTON, Dec. 18, 2023 (GLOBE NEWSWIRE) — Equus Total Return, Inc. (NYSE: EQS) (“Equus”) today announces that Morgan E&P, LLC, (“Morgan”), a wholly-owned subsidiary of Equus, continues to acquire mineral rights in the Bakken/Three Forks formation in the Williston Basin of North Dakota. Morgan has increased its acreage in this area from 4,747.52 net acres to 5,976.84 net acres, an increase of 1,229.32 net acres, or approximately 25.9%. Morgan engaged the petroleum engineering firm of Cawley, Gillespie & Associates, Inc. (“CG&A”) to review and provide an updated reserve analysis of the asset using the November 30th, 2023 NYMEX strip pricing.

HOUSTON, May 22, 2023 (GLOBE NEWSWIRE) — Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Company”) today announced the closing of a Purchase and Sale Agreement (“PSA”) between Morgan E&P, LLC, (“Morgan”), a wholly-owned subsidiary of Equus, and Pro Energy I, LLC (“Pro Energy”). Pursuant to the PSA, Morgan has acquired 4,747.52 net acres, in the Bakken/Three Forks formation in the Williston Basin of North Dakota. In addition to other terms and conditions, including a payment of $500,000, Morgan is required to drill and complete a minimum of six wells within 18 months of receiving the first drilling permits.

HOUSTON, May 16, 2023 (GLOBE NEWSWIRE) — Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Company”) announced the formation of a new wholly-owned subsidiary, Morgan E&P, LLC (“Morgan”). Morgan will focus on the acquisition, development and operation of oil and gas assets with a particular emphasis generally in the Bakken area of North Dakota (Williston Basin). John Hardy, Morgan’s CEO, has brought on three seasoned oil and gas executives with over 70 years of combined experience. Brian M. McNiell has been appointed as Morgan’s President, bringing over 25 years of experience focused on capital raising, investments and the management