Form 4: Energy Evolution Master Fund, Ltd. Increases Stake in Empire Petroleum Corp

Energy Evolution Master Fund, Ltd., a 10% owner of Empire Petroleum Corp, acquired 16,800 shares of common stock in exchange for extending a purchase option.

Summary

• On August 8, 2024, Energy Evolution Master Fund, Ltd. acquired 16,800 shares of Empire Petroleum Corp common stock.
• This transaction was in exchange for Empire exercising its right to extend a one-year purchase option for certain oil and gas working interests owned by a subsidiary of the reporting person.
• The shares were valued at $4.25 per share, totaling $71,400.
• Following the transaction, Energy Evolution Master Fund, Ltd. beneficially owns 9,942,615 shares of Empire Petroleum Corp.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a standard transaction related to an existing agreement. The extension of the purchase option could be viewed as mildly positive, but the overall impact is likely limited.

Positives

• The extension of the purchase option suggests Empire Petroleum Corp sees value in the underlying oil and gas working interests.

Industry Context

This transaction reflects ongoing activity in the oil and gas sector, where companies frequently use options and stock issuances to manage assets and incentivize stakeholders.

Related Party Transactions

• The transaction involves a subsidiary of Energy Evolution Master Fund, Ltd. and Empire Petroleum Corp, indicating a related party dealing.

Stakeholder Impact

• Shareholders may see this as a positive sign of continued collaboration between Empire Petroleum Corp and Energy Evolution Master Fund, Ltd.

Key Dates