Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Director J. Vann was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 05
Empire Petroleum Corporation, Annual General Meeting, Jun 17, 2026 Empire Petroleum Corporation, Annual General Meeting, Jun 17, 2026. Location: the woodlands resort,curio collection by hilton, 2301 n., millbend drive, the woodlands, texas 77380, United States Announcement • May 02
Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $7.5 million. Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $7.5 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Mar 19
Empire Petroleum Corporation has completed a Follow-on Equity Offering in the amount of $10.000001 million. Empire Petroleum Corporation has completed a Follow-on Equity Offering in the amount of $10.000001 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 3,344,482
Price\Range: $2.99
Transaction Features: Rights Offering Announcement • Mar 16
Empire Petroleum Corporation Reports Unaudited Consolidated Impairment Charges for the Fourth Quarter Ended December 31, 2025 Empire Petroleum Corporation reported Unaudited Consolidated impairment charges for the fourth quarter ended December 31, 2025. For the quarter, the company reported impairment of oil and natural gas properties of $51,289,000. Announcement • Jan 22
Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $5.98 million. Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $5.98 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,000,000
Price\Range: $2.99
Transaction Features: Rights Offering Announcement • Aug 22
Empire Petroleum Corporation has completed a Composite Units Offering in the amount of $2.48757 million. Empire Petroleum Corporation has completed a Composite Units Offering in the amount of $2.48757 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 33,766,388
Price\Range: $0.07367
Transaction Features: Rights Offering Announcement • Aug 16
Empire Petroleum Secures Unanimous Victory to Advance Co2 Development and Protect Emsu Assets Empire Petroleum announced the New Mexico Oil Conservation Commission has issued a unanimous and favorable ruling regarding the Company’s rights to the Residual Oil Zone in the Eunice Monument South Unit Unitized Interval in Lea County, New Mexico. After four years of expenditures, Empire received the Commission’s unanimous decision at a public hearing on August 14, 2025, affirming the existence of a ROZ in the Grayburg and San Andres formations within the EMSU and confirming Empire’s exclusive rights to produce the ROZ under the 1984 Commission Order. The Commission is allowing Empire the opportunity to implement a CO2 enhanced oil recovery pilot project over the next three years. In addition to the findings noted above, the Commission unanimously ordered the following actions: Deny five new injection well applications from Goodnight Midstream Permian, LLC; Deny application for increased injection from Goodnight; Suspend injection operations on four existing Goodnight injection wells; and Deny all pending motions attached to these cases. The Commission further found that, while Empire did not prove immediate correlative rights impairment in the Grayburg from neighboring operators’ injection activities, the Company presented compelling evidence of possible future impairment or waste. Following this outcome, Empire intends to proceed with Motions to Revoke existing permits granted to the remaining third-party saltwater disposal operators disposing wastewater into the EMSU and Unitized Interval of the Arrowhead Grayburg Unit, while concurrently advancing litigation for trespass and damages. Announcement • Jul 01
Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $5 million. Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $5 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: Rights Offering Announcement • May 01
Empire Petroleum Corporation, Annual General Meeting, Jun 12, 2025 Empire Petroleum Corporation, Annual General Meeting, Jun 12, 2025. Location: 2200 s. utica place, suite 150, oklahoma 74114, tulsa United States Reported Earnings • Nov 15
Third quarter 2024 earnings released: US$0.12 loss per share (vs US$0.12 loss in 3Q 2023) Third quarter 2024 results: US$0.12 loss per share. Revenue: US$11.4m (up 10% from 3Q 2023). Net loss: US$3.64m (loss widened 33% from 3Q 2023). Announcement • Oct 25
Empire Petroleum Corporation has completed a Follow-on Equity Offering in the amount of $10 million. Empire Petroleum Corporation has completed a Follow-on Equity Offering in the amount of $10 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,980,198
Price\Range: $5.05
Transaction Features: Rights Offering Reported Earnings • Aug 15
Second quarter 2024 earnings released: US$0.15 loss per share (vs US$0.11 loss in 2Q 2023) Second quarter 2024 results: US$0.15 loss per share (further deteriorated from US$0.11 loss in 2Q 2023). Revenue: US$12.8m (up 22% from 2Q 2023). Net loss: US$4.39m (loss widened 78% from 2Q 2023). Recent Insider Transactions • Jul 02
Independent Chairman of the Board recently bought €188k worth of stock On the 28th of June, Phil Mulacek bought around 38k shares on-market at roughly €4.95 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Phil's only on-market trade for the last 12 months. New Risk • Jun 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 4.6% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (37% increase in shares outstanding). Reported Earnings • May 16
First quarter 2024 earnings released: US$0.15 loss per share (vs US$0.11 loss in 1Q 2023) First quarter 2024 results: US$0.15 loss per share (further deteriorated from US$0.11 loss in 1Q 2023). Revenue: US$9.39m (flat on 1Q 2023). Net loss: US$3.98m (loss widened 62% from 1Q 2023). Announcement • May 01
Empire Petroleum Corporation, Annual General Meeting, Jun 14, 2024 Empire Petroleum Corporation, Annual General Meeting, Jun 14, 2024, at 09:00 Central Daylight. Location: 2200 S. Utica Place, Suite 150, Tulsa Oklahoma United States Agenda: To consider election of three directors named in the proxy statement; to consider advisory vote to approve the compensation of company's executive officers disclosed in the proxy statement; to consider approval of the Empire Petroleum Corporation 2024 Stock and Incentive Compensation Plan; to consider ratification of appointment of Grant Thornton LLP as company's independent registered public accounting firm for 2024; and to consider transaction of such other business as may properly come before the meeting or any adjournment thereof. Reported Earnings • Mar 30
Full year 2023 earnings released: US$0.55 loss per share (vs US$0.34 profit in FY 2022) Full year 2023 results: US$0.55 loss per share (down from US$0.34 profit in FY 2022). Revenue: US$40.1m (down 25% from FY 2022). Net loss: US$12.5m (down 276% from profit in FY 2022). Oil reserves Proven reserves: 6.924 MMbbls Gas reserves Proven reserves: 6.104 Bcf LNG reserves Proven reserves: 1.171 MMbbls Combined production Oil equivalent production: 0.766 MMboe (0.79 MMboe in FY 2022) Announcement • Mar 01
Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $25.000004 million. Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $25.000004 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,132,232
Price\Range: $6.05
Transaction Features: Rights Offering Announcement • Feb 29
Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $25.000004 million. Empire Petroleum Corporation has filed a Follow-on Equity Offering in the amount of $25.000004 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,132,232
Price\Range: $6.05
Transaction Features: Rights Offering Announcement • Dec 01
Empire Petroleum Corporation announced that it has received $10.054656 million in funding Empire Petroleum Corporation announced that it has entered into a Securities Purchase Agreement with a new investor, Energy Evolution Master Fund, Ltd. and an individual investor, Phil Mulacek, pursuant to which investors purchased 1,256,832 shares of common stock of the company at a price of $8 per share for an aggregate gross proceeds of $10,054,657.53 on November 29, 2023. Out of which $5,000,000 was paid in cash to the company and $5,054,657.53 was paid through cancellation and extinguishment of the outstanding principal amount and all accrued interest thereon under that certain Amended and Restated Promissory Note due December 31, 2024, in the original aggregate principal amount of $5,000,000. The Securities Purchase Agreements also contain certain covenants, representations and warranties, and other customary terms and conditions, including the Company using its commercially reasonable best efforts to register the resale of the shares of common stock of the Company described above under the Securities Act of 1933, as amended, within 90 days. Reported Earnings • Nov 14
Third quarter 2023 earnings released: US$0.12 loss per share (vs US$0.01 profit in 3Q 2022) Third quarter 2023 results: US$0.12 loss per share (down from US$0.01 profit in 3Q 2022). Revenue: US$9.54m (down 26% from 3Q 2022). Net loss: US$2.75m (down US$2.96m from profit in 3Q 2022). New Risk • Nov 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Share price has been highly volatile over the past 3 months (9.7% average weekly change). Earnings have declined by 10% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Announcement • Oct 12
Empire Petroleum Commences 2023 Development Program Empire Petroleum Corporation announced the formal commencement of its 2023 drilling program with the recent spud of a new well at its North Dakota asset (the "Starbuck" Field). The Company's capital development programs in 2023 and 2024 have been designed to ensure cost-effective production growth with a strong rate of return. By applying lessons learned from multiple testing methods during the pilot program at Starbuck in 2022, Empire formally moved to the initial phase of the Company's overall development efforts with the Starbuck drilling program. A pilot drilling program on Empire's New Mexico assets is expected to begin in 2024. Additional specifics concerning the Starbuck drilling program include: 10-14 drilled wells; Average lateral length per well of approximately 2,300 feet in Phase 1, with a 5,900-foot length in Phase 2; Average capital spend per well of $1.6-$1.8 million; and Total capital spending for the program of $20-$22 million. New Risk • Aug 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$15m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Share price has been highly volatile over the past 3 months (9.4% average weekly change). Earnings have declined by 10% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (4.8% increase in shares outstanding). Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.11 loss per share (vs US$0.27 profit in 2Q 2022) Second quarter 2023 results: US$0.11 loss per share (down from US$0.27 profit in 2Q 2022). Revenue: US$9.71m (down 37% from 2Q 2022). Net loss: US$2.46m (down 145% from profit in 2Q 2022). Announcement • Aug 11
Empire Petroleum Corporation (NYSEAM:EP) acquired Additional Interests in Eunice Monument South Unit A, Eunice Monument South Unit B, and Arrowhead Grayburg Unit from Coert Holdings 1 LLC for approximately $6.7 million. Empire Petroleum Corporation (NYSEAM:EP) acquired Additional Interests in Eunice Monument South Unit A, Eunice Monument South Unit B, and Arrowhead Grayburg Unit from Coert Holdings 1 LLC for approximately $6.7 million on August 9, 2023. Consideration for the Transaction included a cash payment of $5.0 million by EEF Acquisition Company, LLC, an indirect wholly-owned subsidiary of Energy Evolution Master Fund, Ltd., which is Empire's largest shareholder ("EEF"). In exchange for its funding of the Transaction, EEF has been assigned an undivided 90% ownership interest in the COERT assets, with Empire having a three-year option to purchase such interest at $5.0 million.
Empire Petroleum Corporation (NYSEAM:EP) completed the acquisition of Additional Interests in Eunice Monument South Unit A, Eunice Monument South Unit B, and Arrowhead Grayburg Unit from Coert Holdings 1 LLC on August 9, 2023. Announcement • Jul 14
Empire Petroleum Corporation Announces Resignation of Eugene J. Sweeney as Chief Operating Officer On July 8, 2023, Eugene J. Sweeney resigned as Chief Operating Officer of Empire Petroleum Corporation (the “Company”). The Company has been transitioning to a regional operational model, and his duties are being dispersed among employees who will be primarily responsible for overseeing operations in the various regions in which the Company operates. Recent Insider Transactions • Jun 04
Independent Chairman of the Board recently bought €215k worth of stock On the 31st of May, Phil Mulacek bought around 26k shares on-market at roughly €8.41 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Phil has been a buyer over the last 12 months, purchasing a net total of €3.4m worth in shares. Board Change • May 18
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. CEO, President, Treasurer, Secretary & Director Mike Morrisett is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 