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EVOLUTION PETROLEUM CORP Director's Dealing 2008

Nov 21, 2008

33826_dirs_2008-11-21_f1d3b3a3-8c3d-4fd9-9f37-c1261e2be68e.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EVP)
CIK: 0001006655
Period of Report: 2008-10-27

Reporting Person: PENINSULA MASTER FUND, LTD (10% Owner)
Reporting Person: PENINSULA CAPITAL MANAGEMENT, LP (10% Owner)
Reporting Person: BEDFORD SCOTT (10% Owner)

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 2727400 Direct
Common Stock 2727400 Indirect
Common Stock 1969510 Indirect

Footnotes

F1: These securities are owned by Peninsula Master Fund, Ltd., which is a Reporting Person.

F2: These securities may be deemed to be beneficially owned by Peninsula Capital Management, LP, the investment manager of
Peninsula Master Fund, Ltd., and Scott Bedford, the President of Peninsula Capital Management LP's general partner.

F3: These securities may be deemed to be beneficially owned by Peninsula Capital Management, LP, the general partner and/or
investment manager of certain private investment funds which own such securities.