EVOLUTION PETROLEUM CORP — Director's Dealing 2018

Feb 22, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2018-02-16

Reporting Person: JVL Advisors, L.L.C. (10% Owner)
Reporting Person: LOVOI JOHN (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-16	Common Stock	S	916	$8.20	Disposed	1309194	Indirect
2018-02-16	Common Stock	S	507	$8.20	Disposed	837627	Indirect
2018-02-16	Common Stock	S	179	$8.20	Disposed	145012	Indirect
2018-02-16	Common Stock	S	79	$8.20	Disposed	194369	Indirect
2018-02-16	Common Stock	S	119	$8.20	Disposed	166159	Indirect
2018-02-21	Common Stock	S	15000	$7.9343	Disposed	1165879	Indirect

Footnotes

F1: John V. Lovoi ("Lovoi") is (i) the sole member and manager of JVL Advisors, LLC ("JVL Advisors"), which is the ultimate controlling entity of Asklepios Energy Fund, LP, a Texas limited partnership ("Asklepios"), Hephaestus Energy Fund, LP, a Delaware limited partnership ("Hephaestus"), Children's Energy Fund, LP, a Delaware limited partnership ("Children's Fund"), and Panakeia Energy Fund, LP, a Delaware limited partnership ("Panakeia"), and (ii) a managing member of Peninsula-JVL Capital Advisors, LLC, which is the general partner of Belridge Energy Advisors, LP, a Delaware limited partnership ("Belridge").

F2: Lovoi is a managing member of Lobo Baya, LLC, which is the ultimate controlling entity of Luxiver, LP, a Delaware limited partnership ("Luxiver", and collectively with Asklepios, Hephaestus, Children's Fund, Panakeia, and Belridge, the "Partnerships"). JVL Advisors is a party to an investment management agreement with Luxiver that gives JVL Advisors voting and dispositive power over the securities owned by Luxiver; thus, JVL Advisors may be deemed an ultimate controlling entity of Luxiver.

F3: Because of their control over, and investment management relationship with, the Partnerships, JVL Advisors and Lovoi may be deemed to have voting and dispositive power over the securities owned by the Partnerships; thus, each may also be deemed to be the beneficial owner of these securities. JVL Advisors and Lovoi disclaim any beneficial ownership of the reported securities beneficially owned by the Partnerships in excess of their respective pecuniary interest in such securities.

F4: Represents Luxiver's sale of shares of common stock.

F5: Represents shares of common stock held by Luxiver.

F6: Represents Hephaestus' sale of shares of common stock.

F7: Represents shares of common stock held by Hephaestus.

F8: Represents Children's Fund's sale of shares of common stock.

F9: Represents shares of common stock held by Children's Fund.

F10: Represents Asklepios' sale of shares of common stock.

F11: Represents shares of common stock held by Asklepios.

F12: Represents Panakeia's sale of shares of common stock.

F13: Represents shares of common stock held by Panakeia.

F14: Represents Belridge's sale of shares of common stock.

F15: Represents shares of common stock held by Belridge.

F16: Represents an average sale price for the shares of common stock - the high price was $8.20 and the low price was $7.90.

F17: Represents an average sale price for the shares of common stock - the high price was $8.00 and the low price was $7.90.