EVOLUTION PETROLEUM CORP — Director's Dealing 2006

Feb 24, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATURAL GAS SYSTEMS INC/NEW (NGSY)
CIK: 0001006655
Period of Report: 2006-02-15

Reporting Person: McDonald Sterling (Chief Financial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-15	Warrant (right to buy)	$1.41	A	100000	Acquired	2016-02-15	Common Stock (100000)	Direct
2006-02-15	Warrant (right to buy)	$1.41	A	50000	Acquired	2006-02-15	Common Stock (50000)	Direct
2006-02-15	Employee Stock Option (right to buy)	$1.41	A	150000	Acquired	2016-02-15	Common Stock (150000)	Direct

Footnotes

F1: Warrant or option each vest quarterly over a four year period beginning May 15, 2006.