Evolution Petroleum Corporation: Evolution Petroleum Reports Quarterly Loss Due to Previously Announced Restructuring Charge

Tickers: EPM

Company Contact: Robert Herlin, CEO (713) 935-0122


Evolution Petroleum Reports Quarterly Loss Due To Previously Announced

Restructuring Charge

Houston, TX, February 5, 2014 - Evolution Petroleum Corporation (NYSE MKT: EPM) today reported operating highlights for the current quarter of fiscal 2014 ending December 31, 2013, with comparisons to the previous quarter ending September 30, 2013, and the year-ago quarter ending December 31, 2012.

Evolution beginning to benefit from previously announced restructuring of operations, capitalizing on:

Built-in growth in production, cash flow, earnings and PV-10 at our maturing Delhi EOR project

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Growth potential from commercialization of the GARP® artificial lift technology business

Recently announced initiation of cash dividends to reward shareholders with portion of free cash flow

Improved capital structure due to exercise of most outstanding stock options and warrants, the resulting cash proceeds from exercises and resulting $31.2 million in current and potential future tax deductions

The restructure included divestment of remaining non-GARP® production and a reduction in staff to free resources for commercialization of GARP® through our wholly owned subsidiary, NGS Technologies.

Current quarter operating highlights include:

Previously an

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