EVOLUTION PETROLEUM CORP: Completion of Acquisition or Disposal of Assets, Settlement FD Disclosure, Financial Statements and Exhibits (Form 8-K)

Item 2.01 Completion of Acquisition or Disposal of Assets.

On April 1, 2022, Evolution Petroleum Corporation (the "Company") completed the
acquisition of non-operated oil and gas assets in the Jonah Field in Sublette
County, Wyoming (the "Transaction") from Exaro Energy III, LLC ("Exaro"), for
$26.2 million, net of preliminary purchase price adjustments and a $1.5 million
deposit made upon signing of the Purchase and Sale Agreement. The final purchase
price before adjustments of the Transaction was $27.5 million, which included
preferential rights exercised by Jonah Energy, the operator of the assets, of
$1.9 million. The Transaction had an effective date of February 1, 2022.

The acquired assets includes an average net working interest of 19.6% and an
average net revenue interest of 14.9% in 595 producing wells and 956 net acres.
Current estimated net daily production from the asset is approximately 10.8
million cubic feet of natural gas, 120 barrels of natural gas liquids, and 112
barrels of oil. The commodity mix of the assets is 88% natural gas, 6% natural
gas liquids, and 6% oil. The assets had an average net production of 2,141
barrels of oil equivalent per day, for the six months ended December 31, 2021.

The transaction was financed with cash on hand and $17 million borrowings under the Company’s existing senior credit facility.


This Current Report on Form 8-K contains certain statements that are, or may be
deemed to be, "forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All
statements, other than statements of historical facts, included in this Current
Report on Form 8-K that address activities, events or developments that the
Company expects, believes or anticipates will or may occur in the future are
forward-looking statements. The Company has based these forward-looking
statements largely on its current expectations and projections about future
events and financial trends affecting the financial condition of its business.
These forward-looking statements are subject to a number of risks and
uncertainties, most of which are difficult to predict and many of which are
beyond its control, including the completion of the proposed transaction on the
terms or timeline currently contemplated or at all. Please read the Company's
filings with the Securities and Exchange Commission, including "Risk Factors" in
its Annual Report on Form 10-K for the year ended June 30, 2021, for a
discussion of risks and uncertainties that could cause actual results to differ
from those in such forward-looking statements. The words "believe," "may,"
"estimate," "continue," "anticipate," "intend," "plan," "expect," "indicate" and
similar expressions are intended to identify forward-looking statements. All
statements other than statements of current or historical fact contained in this
Current Report on Form 8-K are forward-looking statements. Although the Company
believes that the forward-looking statements contained in this Current Report on
Form 8-K are based upon reasonable assumptions, the forward-looking events and
circumstances discussed in this press release may not occur and actual results
could differ materially from those anticipated or implied in the forward-looking

Section 7.01 Disclosure of FD Rules.

On April 4, 2022, the Company issued a press release disclosing the closing of
the Transaction. A copy of the press release is furnished herewith as Exhibit

On April 6, 2022, the Company is hosting an investor update call and will be
reviewing an updated investor presentation posted to the Company's website. A
copy of this presentation is furnished herewith as Exhibit 99.2.

Item 9.01 Financial statements and supporting documents.

(d) Exhibits.
Exhibit No.                                                   Description

Exhibit 99.1                      Evolution Petroleum Corporation Press Release dated     April 4    ,
Exhibit 99.2                      Evolution Petroleum Corporation     Investor Presen    tation
                                  dated     April     2022
104                             Cover Page Interactive Data File (embedded within the Inline XBRL


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