Epsilon Energy Ltd. — Director's Dealing 2019

Feb 26, 2019

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Epsilon Energy Ltd. (EPSN)
CIK: 0001726126
Period of Report: 2019-02-14

Reporting Person: LOVOI JOHN (Director)
Reporting Person: JVL Advisors, L.L.C. (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	5498419	Indirect
Common Shares	2500	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option (right to buy)	$7.34		Common Shares (10000)		Direct
Restricted Stock Grant	$		Common Shares (5000)		Direct
Restricted Stock Grant	$		Common Shares (9000)		Direct

Footnotes

F1: These shares are owned directly by JVL Advisors, L.L.C. ("JVL"). Mr. Lovoi, as the managing partner of JVL, exercises voting power and dispositive power with respect to the Common Shares held by JVL.

F2: The options are fully vested and expire on June 5, 2022.

F3: This Restricted Stock Grant will vest in equal parts on December 20, 2019 and December 20, 2020, as long as Mr. Lovoi is still a director of Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.

F4: Vesting evenly at each anniversary of the grant date (December 31, 2018) over a three year period, as long as Mr. Lovoi is still a director of Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.

F5: Upon vesting, the Restricted Stock Grants convert into Common Shares on a one-for-one basis.