Energy Prospectus

You must register to attend. You can bring a guest or two. Send guest names to Sabrina at energyprospectus@gmail.com

I will open with an update on the U.S. natural gas market.

Tuesday's speakers

I will open at 11:50 with a 15 minute update on why U.S. natural gas prices could soon be over $10/MMBtu

For PHX Minerals
> Chad L. Stephens has served as PHX's President and Chief Executive Officer since January 2020. Mr. Stephens served as Interim CEO from October 2019 to December 2019, and he has served as a Director of the Company since September 2017. Prior to joining the Company, Mr. Stephens held several positions at Range Resources Corporation from 1990 through his retirement in 2018, where he served as Senior Vice President – Corporate Development.

> Ralph D’Amico has served as PHX's Chief Financial Officer and Corporate Secretary since March 2020 and as Vice President – Business Development since January 2019. Prior to joining the Company, Mr. D’Amico served as a Managing Director at Seaport Global Securities and held various energy investment banking positions at Stifel Nicolaus, Jefferies, Friedman Billings Ramsey and Salomon Smith Barney.

I was impressed by PHX's presentation today. They hold minerals in the Haynesville and in the Oklahoma SCOOP. Drilling activity has picked up in both areas, which should produce significant revenue growth for PHX.

In a 5-23-2022 update from Stifel, they rate PHX a BUY with a price target of $6.60, almost a double from where it closed today.