Energy Evolution Master Fund, Ltd. - 20 Jul 2023 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Role: 10%+ Owner
Signature: /s/ Sterling Mulacek
Issuer symbol: EP
Transactions as of: 20 Jul 2023
Transactions value $: $2,500,000
Form type: 4
Filing time: 24 Jul 2023, 19:40:02 UTC
Previous filing: 04 Jan 2022
Next filing: 01 Dec 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EP	Common Stock	Exercise of in-the-money or at-the-money derivative security	$2,500,000	+500,000	+10.07%	$5	5,466,637	20 Jul 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EP	Common Stock Warrant (Right to Buy)	Exercise of in-the-money or at-the-money derivative security	$0	-500,000	-100%	$0^*	0	20 Jul 2023	Common Stock	500,000	$5	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As adjusted to give effect to Empire's 1-for-4 reverse common stock split which became effective on March 7, 2022.