EVOLUTION PETROLEUM CORP — Director's Dealing 2011

Jan 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2010-12-21

Reporting Person: Herlin Robert S (Director, President & CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-21	Common Stock	M	30000	$0.001	Acquired	2975868	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-21	Employee Stock Options (right to buy)	$0.001	M	30000	Disposed	2013-09-23	Common Stock (30000)	Direct

Footnotes

F1: Issued based on the exercise of stock options that were granted pursuant to Company's 2003 Stock Plan, (Natural Gas Systems, Inc. 2003 Stock Plan.