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PrimeEnergy Resources Corporation Announces Change in Independent Registered Public Accounting Firm

1. PrimeEnergy Resources appointed Withum as new accounting firm. 2. Decision approved by the Audit Committee and Board of Directors. 3. Company engaged in oil and natural gas production in Texas. 4. Forward-looking statements include risks and uncertainties. 5. Volatility of oil prices may affect company's forecasts.

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Why Neutral?

The appointment of a new accounting firm may stabilize reporting, yet poses no immediate high-impact financial change. Historically, auditor changes have had varied impacts on market perceptions without drastic shifts in stock prices.

How important is it?

The change in auditors signals a corporate governance shift but lacks news of substantial operational changes or financial adjustments. Thus, it may not significantly influence investor sentiment or stock valuation in the near term.

Why Short Term?

Initial reactions to governance changes often occur quickly, while long-term impacts may depend on subsequent financial performance. In past examples, auditor changes have led to temporary volatility rather than sustained price movements.

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OXYCVXHPNBL
June 27, 2025 17:50 ET  | Source: Primeenergy Resources Corporation HOUSTON, June 27, 2025 (GLOBE NEWSWIRE) -- PrimeEnergy Resources Corporation (NASDAQ: PNRG, today announced that it has appointed Withum Smith+Brown, PC (“Withum”) as the Company’s independent registered public accounting firm, effective June 27, 2025. The decision to change auditors was recommended and approved by the Company's Audit Committee and the Board of Directors. PrimeEnergy Resources is an independent oil and natural gas company engaged in the acquisition, development, and production of hydrocarbons, primarily in Texas. The Company’s common stock trades on the NASDAQ under the symbol PNRG. For investor inquiries, contact: Connie Ng – (713) 735-0000 ext. 6416 Forward-Looking StatementsThis Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.

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