EVOLUTION PETROLEUM CORP — Director's Dealing 2011

Sep 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2011-09-29

Reporting Person: LOVOI JOHN (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-29	Common stock	P	16408	$6.94	Acquired	4935062	Direct
2011-09-30	Common stock	P	38623	$6.99	Acquired	4973685	Direct

Footnotes

F1: Represents the purchase of shares of common stock by Luxiver, LP.

F2: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.88 to $7.00. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

F3: Represents shares of common stock held by Belridge Energy Advisors, LP; Luxiver, LP; Navitas Fund LP; JVL Global Energy (QP), LP; and Navitas Fund (QP), LP.

F4: The reporting person is the managing member of JVL Advisors, LLC, which is the ultimate controlling entity of each of Navitas Fund LP, JVL Global Energy (QP), LP and Navitas Fund (QP), LP. The reporting person is a managing member of Peninsula-JVL Capital Advisors, LLC, which is the general partner of Belridge Energy Advisors, LP, and is a managing member of Lobo Baya, LLC, which is the ultimate controlling entity of Luxiver, LP.

F5: Because of the reporting person's control of Belridge Energy Advisors, LP, Luxiver, LP, Navitas Fund LP, JVL Global Energy (QP), LP and Navitas Fund (QP), LP, the reporting person may be deemed to share the power to vote and the sole power to dispose of the shares of common stock held by those entities, thus he may also be deemed to be the beneficial owner of these shares of common stock. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the reported securities for purposes of Section 16 or for any other purpose.

F6: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.90 to $7.00. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.