EVOLUTION PETROLEUM CORP — Director's Dealing 2008

Oct 9, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2008-10-03

Reporting Person: CAGAN LAIRD Q (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-10-03	Common Stock	S	250000	$2.00	Disposed	5714000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-10	Warrant to Purchase Common Stock	$2.25	J	12000	Disposed	2013-06-22	Common Stock (12000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	500000	Indirect
Common Stock	500000	Indirect

Footnotes

F1: Represents shares held in trust for the benefit of the Reporting Person's minor child.

F2: Warrants transferred to employees as partial compensation.