Energy Evolution Master Fund, Ltd. filed a Form 4 on November 9, 2026, disclosing three open-market purchases of Empire Petroleum Corp common stock totaling 91,213 shares across November 5, 6, and 9, 2026.

Key Highlights

  • Three purchases in three days: Energy Evolution Master Fund acquired 48,025 shares on November 5, 33,771 shares on November 6, and 9,417 shares on November 9, 2026.
  • Weighted average prices: The November 5 purchase carried a weighted average price of $2.0218, the November 6 purchase $2.4546, and the November 9 purchase $2.5295, per the filing.
  • Resulting ownership: Following all three transactions, the reporting person directly beneficially owned 11,787,102 shares of Empire Petroleum Corp common stock, according to the filing.
  • 10% owner relationship: The filing identifies Energy Evolution Master Fund, Ltd. as a 10% owner of the issuer.
  • Non-Rule 10b5-1 arrangement: The filing states the transactions were made pursuant to a non-Rule 10b5-1 trading arrangement adopted on November 3, 2026.
  • Price ranges disclosed: November 5 purchases ranged from $1.97 to $2.085; November 6 from $2.02 to $2.565; November 9 from $2.42 to $2.60, all inclusive.

Energy Evolution Master Fund's Three-Day Accumulation of Empire Petroleum Shares

Energy Evolution Master Fund, Ltd., a 10% owner of Empire Petroleum Corp (NYSE American not confirmed in filing; the filing lists the issuer ticker as EP with no exchange name), reported a series of open-market purchases of Empire Petroleum Corp common stock between November 5 and November 9, 2026. The filing, signed by Sterling Mulacek as Director of the reporting entity, discloses all three transactions as acquired (code "P") directly held shares.

On November 5, 2026, the fund purchased 48,025 shares at a weighted average price of $2.0218, with individual transaction prices ranging from $1.97 to $2.085, inclusive. The following day, November 6, an additional 33,771 shares were acquired at a weighted average of $2.4546, with prices ranging from $2.02 to $2.565, inclusive. On November 9, the fund purchased a further 9,417 shares at a weighted average of $2.5295, with prices ranging from $2.42 to $2.60, inclusive.

According to the filing, all transactions were made pursuant to a non-Rule 10b5-1 trading arrangement adopted on November 3, 2026. The reporting person also disclosed that full information on shares purchased at each separate price within the stated ranges is available upon request to Empire Petroleum Corporation, any security holder, or the SEC staff. After the three reported purchases, the fund's direct beneficial ownership stood at 11,787,102 shares of common stock.

What Was Disclosed

Energy Evolution Master Fund, Ltd. disclosed three open-market purchases of Empire Petroleum Corp common stock totaling 91,213 shares from November 5 to November 9, 2026, bringing its direct beneficial ownership to 11,787,102 shares, under a non-Rule 10b5-1 trading arrangement adopted November 3, 2026.