Epsilon Energy Ltd. — Director's Dealing 2020

May 21, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Epsilon Energy Ltd. (EPSN)
CIK: 0001726126
Period of Report: 2020-05-15

Reporting Person: Solas Capital Management, LLC (10% Owner)
Reporting Person: FREDERICK TUCKER GOLDEN (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-15	Common Shares, no par value	S	9330	$3.0074	Disposed	2640670	Indirect
2020-05-18	Common Shares, no par value	S	2300	$2.9971	Disposed	2638370	Indirect
2020-05-19	Common Shares, no par value	S	1350	$2.98	Disposed	2637020	Indirect

Footnotes

F1: The securities reported herein are held in multiple accounts. Solas Capital Management, LLC may be deemed to be a beneficial owner of such securities by virtue of its role as the investment manager of such accounts. Frederick Tucker Golden may be deemed to be a beneficial owner of such securities by virtue of his role as the portfolio manager of Solas Capital Management, LLC. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F2: This constitutes the weighted average sale price. The prices range from $2.98 to $3.01. The Reporting Person will provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F3: This constitutes the weighted average sale price. The prices range from $2.98 to $3.02. The Reporting Person will provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.