Empire Petroleum fund distributes 514,064 shares

Q: How many EP shares did Energy Evolution Master Fund distribute?

Energy Evolution Master Fund distributed 514,064 shares on October 23, 2026, to certain investors for no consideration.

The fund reported direct holdings of 11,695,889 shares after the distribution.

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Form Type

Rhea-AI Filing Summary

Energy Evolution Master Fund, Ltd. reported disposition transactions in this Form 4 filing. Energy Evolution Master Fund, Ltd., a ten percent owner of Empire Petroleum Corp. (EP), distributed 514,064 shares of the company’s common stock to certain investors for no consideration on October 23, 2026. The fund reported direct holdings of 11,695,889 shares after the distribution. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Other: 514,064 shares

Other 1 txn

Insider Energy Evolution Master Fund, Ltd.

Role 10% Owner

Type	Security	Shares	Price	Value
Other	Common Stock ^F1	514,064	$0.00	$0.00

Holdings After Transaction: Common Stock — 11,695,889 shares (Direct)

Footnotes (1)

F1. The reporting person made an in-kind distribution of these shares of the Issuer to certain of its investors for no consideration.

Key Figures

Shares distributed: 514,064 shares Direct shares after transaction: 11,695,889 shares Reported price per share: $0.00 per share

3 metrics

Shares distributed 514,064 shares October 23, 2026; distributed to certain investors for no consideration

Direct shares after transaction 11,695,889 shares Reported following the distribution

Reported price per share $0.00 per share In-kind distribution for no consideration

Key Terms

in-kind distribution, ten percent owner, no consideration

3 terms

in-kind distribution financial

"made an in-kind distribution of these shares"

A distribution of value to shareholders or beneficiaries made by transferring assets instead of paying cash, such as shares, bonds, or property. Like receiving a box of goods rather than money, it changes what you hold rather than adding liquid funds; investors care because it affects a portfolio’s composition, liquidity, tax reporting, and cost basis for the received assets.

ten percent owner regulatory

"a ten percent owner of Empire Petroleum Corp."

no consideration financial

"to certain investors for no consideration"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many EP shares did Energy Evolution Master Fund distribute?

Energy Evolution Master Fund distributed 514,064 shares on October 23, 2026, to certain investors for no consideration.

How many EP shares did Energy Evolution Master Fund hold afterward?

The fund reported direct holdings of 11,695,889 shares after the distribution.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/27/2026 - 06:50 AM EDT Accepted by SEC EDGAR 10/27/2026 - 06:49 AM EDT

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Energy Evolution Master Fund, Ltd.

(Last)

(First)

(Middle)

25025 I-45 NORTH, SUITE 420

(Street)

THE WOODLANDS

TEXAS

77380

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
EMPIRE PETROLEUM CORP [ EP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/23/2026		J⁽¹⁾		514,064	D	$0	11,695,889	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The reporting person made an in-kind distribution of these shares of the Issuer to certain of its investors for no consideration.

	/s/ Energy Evolution Master Fund, Ltd., by Sterling Mulacek, Director	10/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR