EVOLUTION PETROLEUM CORP — Director's Dealing 2009

Apr 13, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2008-03-08

Reporting Person: MCAFEE ERIC A (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-08	Common Stock	S	150000	—	Disposed	2548700	Indirect
2008-05-19	Common Stock	S	250000	$6	Disposed	2298700	Indirect
2008-10-02	Common Stock	S	62400	—	Disposed	2236300	Indirect
2008-12-31	Common Stock	S	11200	—	Disposed	2225100	Indirect
2009-01-31	Common Stock	S	155100	—	Disposed	2070000	Indirect
2009-04-01	Common Stock	S	45300	—	Disposed	2024700	Indirect
2009-04-02	Common Stock	S	24700	—	Disposed	2000000	Indirect
2008-10-31	Common Stock	S	75800	—	Disposed	1674200	Indirect
2008-11-05	Common Stock	S	5000	$1.77	Disposed	1669200	Indirect
2008-11-06	Common Stock	S	5000	$1.64	Disposed	1664200	Indirect

Footnotes

F1: (1) Represents shares held by McAfee Capital, LLC an entity owned 100% by Mr. McAfee who has 100% voting and dispositive power over such shares

F2: (2) Shares were sold for services rendered. The closing price of the stock on 3/7/2008 was $3.99.

F3: (3) 5,000 shares were sold at $3.25; 5,000 at $3.2698; 5,000 at $3.39; 5,000 at $3.45; 5,000 at $3.5112; 5,000 at $3.5214; 2.400 at $3.5408; 5,000 at $3.55; 5,000 at $3.58; 5,000 at $3.748; 5,000 at $3.7556; 600 at $3.81; 4,400 at $3.82; 5,000 at $3.8306- on 10/2/08.

F4: (4) Between 12/8/08 and 12/30/08 11,200 shares were sold as follows: 200 at $1.21; 1,000 at $1.20; 1,000 at $1.2601; 31 at $1.30; 1,000 at $1.2501; 1,000 at $1.26; 969 at $1.30; 1,000 at $1.2403; 1,000 at $1.251; 1,000 at $1.3501; 1,000 at $1.253; 1,000 at $1.2201;and 1000 at $1.25

F5: (5) Between 1/2/09 and 1/21/09 155,100 shares were sold as follows; 1,000 at $1.25; 100,000 at $1.36; 100 at $1.66; 5,100 at $1.6178; 9,300 at $1.5071; 3,600 at $1.6306; 20,000 at $1.4417; 8,300 at $1.5042; 6,700 at $1.3542; 1,000 at $1.35;

F6: (6) 25,000 shares were sold at $1.85; 3,200 at $1.855; 7,100 at $1.86; 9,000 at $1.87; and 1,000 at $1.88 - all on April 1, 2009;

F7: (7) 10,350 shares were sold at $1.85; 500 at $1.87; 4,950 at $1.88; 200 at $1.885; 400 at $1.89; 1,000 at $1.90; 3,000 at $1.92; 3,300 at $1.93; 300 at $1.94; 100 at $1.945; and 600 at $1.9475 - all on April 2, 2009.

F8: (8) 75,800 shares were sold between 10/2/08 and 10/31/08 as follows: 5,000 at $2.52; 600 at $2.68; 10,000 at $1.95; 5000 at $1.70; 5600 at $1.90; 5000 at $1.76; 5000 at $1.82; 2000 at $2.01; 5000 at $1.91; 6000 at $1.85; 5000 at $1.46; 5000 at $1.42; 5000 at $1.30; 5000 at $1.40; 1600 at $1.45; 5000 at $1.58;

F9: (9) Represents shares held by P2 Capital, LLC, an entity owned by Mrs. McAfee and Mr. & Mrs. McAfee's minor children, and over which Marguerite McAfee has sole voting and dispositive power. Mr.McAfee disclaims beneficial ownership of these shares.