EVOLUTION PETROLEUM CORP — Director's Dealing 2009

Oct 24, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2009-08-04

Reporting Person: MCAFEE ERIC A (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-08-04	Common Stock	S	190000	$2.48	Disposed	600000	Direct
2009-08-31	Common Stock	S	10000	$2.63	Disposed	1654200	Indirect
2009-09-01	Common Stock	S	11900	—	Disposed	1642300	Indirect
2009-09-09	Common Stock	S	25900	—	Disposed	1616400	Indirect
2009-09-11	Common Stock	S	22200	—	Disposed	1594200	Indirect

Footnotes

F1: Between 9/1/09 and 9/8/09 11,900 shares were sold as follows: 6,700 shares were sold at $2.605; 3,300 shares at $2.60; 1,700 shares at $2.74 and 200 at $2.80.

F2: Between 9/9/09 and 9/10/09 25,900 shares were sold as follows: 8,000 at $3.00; 4,800 at $2.835 and 13,100 at $3.14.

F3: Between 9/11/09 and 9/14/09 22,200 shares were sold as follows; 10,000 at $3.176; 4,000 at $3.203 and 8,200 at $3.00

F4: Represents shares held by P2 Capital, LLC, an entity owned by Mrs. McAfee and Mr. and Mrs. McAfee's minor children, and over which Marguerite McAfee has sole voting and dispositive power. Mr. McAfee disclaims beneficial ownership of these shares.