EVOLUTION PETROLEUM CORP — Director's Dealing 2010

Mar 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2009-12-14

Reporting Person: MCAFEE ERIC A (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-14	Common Stock	S	83333	$3.945	Disposed	166667	Indirect
2010-01-19	Common Stock	S	41667	$4.45	Disposed	125000	Indirect
2010-01-16	Common Stock	S	75000	$4.479	Disposed	1850000	Indirect
2010-01-26	Common Stock	S	30000	$4.672	Disposed	1564200	Indirect

Footnotes

F1: Represents shares held by Berg McAfee, LLC, an entity owned 50% by Mr. McAfee who has 50% voting and dispositive power over such shares.

F2: Represents shares held by McAfee Capital, LLC, an entity owned 100% by Mr. McAfee who has 100% voting and dispositive power over such shares.

F3: 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.