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EVOLUTION PETROLEUM CORP Director's Dealing 2008

Dec 18, 2008

33826_dirs_2008-12-17_e9389148-3874-454a-bb58-db380fbac6e5.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2008-08-19

Reporting Person: Herlin Robert S (Chief Executive Officer)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-08-19 Common Stock A 15958 Acquired 2359708 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2008-08-19 Stock Option (right to purchase) $4.02 A 127210 Acquired 2015-08-19 Common Stock (127210) Direct

Footnotes

F1: Shares were issued pursuant to Company's Amended and Restated Stock Incentive Plan in lieu of payment of portion of cash bonus.

F2: On August 19, 2008, the reporting person was granted an option to purchase 127,210 shares of Common Stock. The exercise price of the Common Stock covered by the Option is $4.02 per share, which is the closing market price of the Company's Common Stock on the Date the grant was approved by the Compensation Committee of the board of directors. The Option vests over a four-year period from the Date of the Grant and vests pro ratably by quarter.