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Evolution Petroleum Corporation

Evolution Petroleum Corporation (EPM)

5.65
0.20
(3.67%)
Closed July 15 4:00PM
5.65
0.00
( 0.00% )
Pre Market: 4:03AM

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Key stats and details

Current Price
5.65
Bid
-
Ask
-
Volume
-
0.00 Day's Range 0.00
5.00 52 Week Range 10.11
Market Cap
Previous Close
5.65
Open
-
Last Trade
Last Trade Time
-
Financial Volume
-
VWAP
-
Average Volume (3m)
285,560
Shares Outstanding
33,357,632
Dividend Yield
8.50%
PE Ratio
5.35
Earnings Per Share (EPS)
1.06
Revenue
128.51M
Net Profit
35.22M

About Evolution Petroleum Corporation

Evolution Petroleum Corp is an independent oil and gas company operating in the US. It is engaged primarily in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The company's principal assets include interests ... Evolution Petroleum Corp is an independent oil and gas company operating in the US. It is engaged primarily in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The company's principal assets include interests in a carbon dioxide enhanced oil recovery project in Louisiana's Delhi field. Its mineral interests include Delhi Holt-Bryant Unit in the Delhi field (Unit) located in Northeast Louisiana. The revenue generated by the company includes royalty, mineral and working interests. Show more

Sector
Crude Petroleum & Natural Gs
Industry
Crude Petroleum & Natural Gs
Headquarters
Carson City, Nevada, USA
Founded
1970
Evolution Petroleum Corporation is listed in the Crude Petroleum & Natural Gs sector of the American Stock Exchange with ticker EPM. The last closing price for Evolution Petroleum was $5.65. Over the last year, Evolution Petroleum shares have traded in a share price range of $ 5.00 to $ 10.11.

Evolution Petroleum currently has 33,357,632 shares outstanding. The market capitalization of Evolution Petroleum is $188.47 million. Evolution Petroleum has a price to earnings ratio (PE ratio) of 5.35.

EPM Latest News

Evolution Petroleum Reports Third Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Fourth Quarter

HOUSTON, May 07, 2024 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") today announced its financial and operating results for its fiscal...

Evolution Petroleum Schedules Fiscal Third Quarter 2024 Earnings Release and Conference Call

HOUSTON, April 23, 2024 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") today announced that it plans to release its fiscal third quarter...

Evolution Petroleum to Participate in Water Tower Research Fireside Chat and Provides Update on SCOOP/STACK and Chaveroo Operations

HOUSTON, March 07, 2024 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") announced today that the Company is scheduled to participate in a...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.458.653846153855.25.7055.16492736055.47586842CS
40.336.20300751885.325.7055.16492943265.34116583CS
12-0.09-1.567944250875.745.95.16492855605.46013311CS
26-0.36-5.990016638946.016.28552887305.61373513CS
52-2.38-29.63885429648.0310.1153781126.56789011CS
1561.0522.82608695654.610.113.62731306.64221949CS
260-0.9-13.74045801536.5510.112.092272615.87774701CS

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EPM Discussion

View Posts
futrcash futrcash 5 months ago
Corporate Presentation

https://ir.evolutionpetroleum.com/news-events/events-presentations?
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conix conix 2 years ago
EPM's cash flow must be huge at these prices. A small dividend increase would really get this name on the list for dividend investors.

jmo
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conix conix 2 years ago
6 percent yield...not bad.

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eFinanceMarkets eFinanceMarkets 7 years ago
Evolution Petroleum offers an attractive dividend with a low payout ratio.
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eFinanceMarkets eFinanceMarkets 7 years ago
While we are not excited about the sector as a whole, we are long Evolution Petroleum due to its ability to generate cash despite the low oil prices.
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Timothy Smith Timothy Smith 7 years ago
Very bullish. If interested watch Enercom webcast today. http://www.enercomdallas.com/webcast/epm/
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CashCowMoo CashCowMoo 8 years ago
interesting bump on PPS today. Looks like the ibox needs updated. PRs from 2008 probably need to come down.
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SeaOhToo SeaOhToo 8 years ago
$16 Million in cash, paying dividend and showing a profit!!!
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SeaOhToo SeaOhToo 9 years ago
Evolution Petroleum Declares Cash Dividend on 8.5% Series A Preferred Stock
Print
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Today : Thursday 3 December 2015

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HOUSTON, Dec. 2, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock. The dividend is for the month of December 2015 and is payable on December 31, 2015 to holders of record at the close of business on December 15, 2015. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.
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SeaOhToo SeaOhToo 9 years ago
HOUSTON, Nov. 4, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today reported financial and operating highlights for its first quarter of fiscal 2016 ended September 30, 2015 (the "current quarter"), with comparisons to the fourth quarter ended June 30, 2015 (the "prior quarter") and the quarter ended September 30, 2014 (the "year-ago quarter"). The results for the year-ago quarter did not include the Company's reversionary working interest in the Delhi Field, which became effective November 1, 2014, so most comparisons will focus on sequential results from the prior quarter.

Highlights for the Quarter Ended September 30, 2015

Net income increased to $2.9 million, or $0.09 per share, for the quarter.
Net production increased to 1,698 net barrels of oil per day ("BOPD") from the Delhi field, a 2% increase from the prior quarter. Gross production increased to 6,423 BOPD from 6,328 BOPD in the prior quarter.
Average realized oil prices were $47 per barrel, down from $59 in the prior quarter, resulting in Delhi revenues of $7.3 million, down from $9.0 million in the prior quarter. Realized hedge gains added $0.9 million, or $5.55 per barrel, which are reported as other income and not as revenues.
Net working capital increased to $16.3 million from $14.4 million in the prior quarter on the strength of solid operating results, a $1.5 million refund from the carryback of stock option deductions to prior year's Louisiana state taxes paid and insurance proceeds.
We distributed $1.8 million of cash dividends to our common and preferred shareholders in the current quarter and returned $1.0 million of cash to shareholders with the open market repurchases of common stock.
Capital spending in the Delhi field was $2.6 million, primarily directed towards the NGL plant. Approximately $18.0 million remains to be expended prior to the plant's startup, which is scheduled for next summer.
Randy Keys, President and CFO, said: "Despite lower oil prices, we were able to generate very strong earnings of $0.09 per common share in the quarter. We were aided by unrealized hedge gains of $1.1 million (an estimated $0.7 million after tax, or $0.02 per common share) and other income of $1.1 million from insurance proceeds related to the pre-reversion fluid release event (an estimated $0.7 million after tax, or $0.02 per common share.) Without the benefit of these items, net income would have been $0.05 per common share. Our hedging program has been very beneficial in this price environment as we realized derivative gains of $0.9 million in the quarter. Work on the Delhi NGL plant is continuing and it is scheduled to be online in the summer of 2016. The NGL plant is expected to significantly increase liquid production volumes from the field, provide substantial volumes of methane to power field operations and enhance the efficiency and output of the CO2 flood. Importantly, we have seen operating costs in the Delhi Field decline to $16.37 per barrel, as the operator's cost control efforts continue to show positive results. Our strong balance sheet and working capital position of $16.3 million continue to serve us well."

Robert Herlin, Chairman and CEO, added: "Unlike the majority of our peers, we remain in excellent financial condition and posted net income and earnings per share for the quarter, above expectations, and ended the quarter free of debt. We believe our financial strength gives us the flexibility to take advantage of opportunities that may come our way in this environment, while maintaining our cash dividend to common shareholders. Looking to the future, we are positive about the prospects for the Company, including our ability to continue our growth plan, create long-term value and return increasing amounts of cash to shareholders."

Delhi Field Operations

Financial results for the Delhi Field were positively impacted by increased production levels, which offset the lower oil prices in the current quarter. Net production increased to 1,698 BOPD from 1,673 BOPD in the prior quarter, while average prices dropped from $59 per barrel to $47. Our realized hedge gains added the equivalent of $5.55 per barrel to this lower oil price. We had previously hedged 1,100 BOPD, an estimated two-thirds of our production, at a West Texas Intermediate ("WTI") average floor price of $55 per barrel for the six month period ending December 31, 2015. In early October, the Company entered into a fixed price swap contracts for 1,100 BOPD at a WTI price of $51.45 per barrel, for the three month period ending March 31, 2016. In addition to the WTI price on our hedged volumes, we continue to receive a market price premium for our Delhi production, which is sold as Louisiana Light Sweet ("LLS").

Field operating expenses were $16.37 per barrel of oil equivalent ("BOE"), below previous levels, resulting primarily from lower purchased CO2 costs and other operating cost savings. In the current quarter, our net share of lease operating expenses was approximately $2.6 million, of which $1.4 million was related to CO2 purchases and transportation expenses. Total CO2 costs (net) were down 22% from the prior quarter as a result of both lower oil prices and lower purchased CO2 volumes. Our purchased CO2 costs are directly indexed to realized oil prices received at Delhi.

As of September 30, 2015, we have incurred approximately $6.6 million of cumulative capital costs for the NGL plant, out of a total estimated commitment of $24.6 million. We expect the remaining obligation of $18.0 million will be incurred over the next nine to twelve months prior to completion, which is scheduled for the summer of 2016. The expenditures during calendar 2015, which were estimated to be approximately $14.0 to $15.0 million, are primarily related to engineering, procurement and off-site fabrication of major components of the plant. Installation in the field is expected to commence in the first quarter of calendar 2016.

Gas Assisted Rod Pump (GARP®) Services

During the current quarter, we completed a GARP® installation in the Eagle Ford play for a new third-party customer. Subsequent to the end of the quarter, we completed an installation for another new customer in the Barnett Shale. Initial results for both installations look promising. The earlier installation for a customer in the Permian Basin was recently removed due to unrelated production difficulties. Despite the challenging market environment and overall industry conditions, we are diligently working to advance the adoption of the technology and are pleased to have completed these new installations for large operators in new basins. We are also reviewing the best options for accelerating commercial development.

Liquidity and Capital Resources

At September 30, 2015, the Company had total liquidity of $21.3 million, which includes $16.3 million of working capital and $5.0 million of availability under our unsecured revolving credit facility. As of September 30, 2015, the Company remained debt-free. We believe that current liquidity combined with expected operating cash flows will be sufficient to fund the Company's expected capital requirements for the fiscal year ended June 30, 2016 and allow us to continue our common stock dividend program. At the present time, we do not have any committed capital spending obligations beyond the current fiscal year.

Other Matters

In late September 2015, we received a $1.5 million refund of cash taxes paid to the State of Louisiana during the three years ended June 30, 2014. The refund of taxes resulted from the carryback of income tax losses which arose from the exercise of stock options and incentive warrants in November 2013. For financial reporting purposes, this benefit does not affect our provision for income taxes, but is instead recorded as an increase in additional-paid-in-capital.

In mid-October, in the case of John C. McCarthy, et al versus Evolution Petroleum Corp, et al, related to our purchase of royalty interests in the Delhi Field in 2006, the Supreme Court of Louisiana overturned the appellate court and reinstated the district court's decision to dismiss the case with prejudice.

Expected Tax Treatment of Dividends

For the fiscal year ended June 30, 2015, 100% of cash dividends on preferred shares were treated as qualified dividend income. Approximately 86% of cash dividends on common shares were treated as a return of capital to our stockholders and the remainder of 14% was treated as qualified dividend income. Based on our current projections for the fiscal year ending June 30, 2016, we expect 100% of preferred and common dividends to be treated as qualified dividend income.
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SeaOhToo SeaOhToo 9 years ago
Highlights for our fiscal year 2015 Finances
•
We remained debt free. All of our expenditures and dividends were funded solely by cash flow from operations and working capital and we ended our fiscal year with no funded debt.
•
We returned $10.5 million to shareholders in the form of cash dividends during fiscal 2015. We paid a total of $9.8 million in common stock dividends and $0.7 million in preferred stock dividends in fiscal year 2015.
•
We initiated a stock buyback program. We have authorized the purchase of as much as $5.0 million of our common stock under this program.
•
Working capital was $14.3 million at June 30, 2015 compared to $23.3 million at the prior year end. At June 30, 2015, working capital included $20.1 million of cash on hand.
•
We entered into hedges for approximately two-thirds of our oil production for the six month period ending December 31, 2015. As of June 30, 2015, we recorded a loss of $109,974 to reflect our derivative position at its then current market value. Based on a subsequent decline in oil prices, we realized gains of $138,787 and $412,985, for July 2015 and August 2015, respectively, for expiring derivative contacts. These derivatives have allowed us to receive the WTI equivalent of approximately $55.00 per barrel for the hedge quantities sold during these periods.
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SeaOhToo SeaOhToo 9 years ago
Fiscal 2016 Capital Budget and Financial Outlook
With the Delhi Field operator's determination that reversion of our 23.9% working interest and 19.0% net revenue interest in Delhi occurred effective November 1, 2014, we began funding our share of capital expenditures in the field as of that date. From the date of reversion through June 30, 2015, our net share of capital expenditures was approximately $10.4 million, including $5.0 million for the NGL recovery plant. Capital expenditures also included the re-drilling of a production well, testing and strengthening of well bore integrity in various wells in the field, including previously plugged wells, and drilling and completion of monitoring wells. The after-tax present value of our proved reserves remains far in excess of our cost basis.
Projected capital expenditures over the next fiscal year are currently expected to total approximately $19.6 million net to our working interest for the balance of the costs of the NGL plant. Based on our current marketing and business plans, we expect that our capital requirements for artificial lift technology operations will be relatively minor over the next fiscal year.
Our liquidity is highly dependent on the realized prices we receive for our production, net of our hedges. In June 2015, we initiated a crude oil price protection program for approximately two-thirds of our expected production that provides an average floor price of $55.00 per barrel for the remainder of the calendar year. At June 30, 2015, the Company had total liquidity of $19.4 million, which includes $14.4 million of working capital and $5.0 million of availability on our unsecured revolving credit facility, and we remained debt-free. We believe that our current liquidity combined with expected operating cash flows will be sufficient to fund the Company's capital requirements for fiscal year 2016.
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SeaOhToo SeaOhToo 9 years ago
Delhi Field Operations
Gross production at Delhi in the fourth quarter of fiscal 2015 was 6,328 barrels of oil per day ("BOPD"), up 2% from the third fiscal quarter's 6,203 BOPD. Production volumes net to the Company were 1,677 BOPD and 1,644 BOPD, respectively. Production from the field is expected to average in excess of 6,000 BOPD until we add projected volumes from the NGL extraction plant in the second half of calendar 2016, and complete the roll-out of the remaining phases of the CO2 project in subsequent years. We expect production growth to continue well into the next decade.
Our ownership in the Delhi field project has served the company well in this challenging industry environment. Oil production from the field receives favorable Light Louisiana Sweet crude oil pricing, which continues to trade at a significant premium to the industry standard WTI price, and our low pipeline transportation costs are also a competitive advantage. Additionally, our cost of purchased CO2 in the Delhi field, the majority component of operating costs, is mostly driven by the price of oil in the field, therefore our major operating cost has dropped substantially with the price of crude. We have also seen reductions in other field operating costs as the operator has focused on initiatives to lower field operating expenses.
The plans and purchases for construction of the NGL plant are underway and we are anticipating startup next summer. The plant has a total estimated cost of $24.6 million net to Evolution, of which approximately $5.0 million had been incurred as of June 30, 2015. Our June 30, 2015 reserves report includes projected peak proved production gross volumes of approximately 1,850 barrels of liquids per day from the NGL plant over the next five years, and peak probable gross volumes of an additional 1,140 barrels of liquids per day later next decade. As previously announced, the methane recovered by the plant will be used to generate electricity and other power requirements for the field, which will substantially reduce field operating costs. The NGL plant is also expected to increase the efficiency of the CO2 flood due to the removal of methane from the recycle gas stream, and our reserves report reflects incremental gross crude oil production volumes of up to 500 BOPD once the plant is operational.
Of particular importance, remaining future development costs amount to only $9.34 per BOE for proved undeveloped reserves and $4.89 for probable undeveloped reserves, making continued development

3

economical even at current oil prices. Looking forward, the timing of plans for continued development of the eastern part of the Delhi field is dependent on the plans for capital allocation by the partners. We continue to believe that these high quality and economically viable projects will be executed as planned, subject to oil price volatility.
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SeaOhToo SeaOhToo 9 years ago
Evolution Petroleum Announces Financial Results for Fiscal Year 2015

HOUSTON, Sept. 9, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today reported financial and operating highlights for its fiscal year and fourth quarter ended June 30, 2015, with comparisons to fiscal third quarter ended March 31, 2015 (the "prior quarter") and the quarter ended June 30, 2014 (the "year-ago quarter"), as well as the last fiscal year ended June 30, 2014.
Highlights:
•
Generated net income of $1.7 million or $0.05 per diluted share, on record revenues of $9.1 million in the current quarter;
•
Generated net income of $4.3 million or $0.13 per diluted share, in the fiscal year;
•
Returned $10.5 million to shareholders in the form of cash dividends during fiscal 2015;
•
Initiated a common stock repurchase program of up to $5.0 million;
•
Commenced construction of a natural gas liquids ("NGL") recovery plant at Delhi;
•
Maintained our strong financial position and debt-free balance sheet.
Randy Keys, President and Chief Financial Officer, said: "We are pleased to report net income for the fourth consecutive fiscal year, despite significantly lower oil prices in fiscal 2015 and a challenging industry environment. During the quarter, we entered into derivative transactions to provide the Company with downside protection on two-thirds of our estimated production for the remainder of the calendar year at an average West Texas Intermediate ("WTI") price of $55 per barrel.
"Our Delhi field continues to add value to the Company as the reversion of our 23.9% working interest became effective on November 1, 2014. As previously announced, our proved reserve volumes totaled 12.4

1

MMBOE and our high quality probable reserves totaled 9.43 MMBOE as of June 30, 2015. The construction of the NGL plant at Delhi is underway and we are anticipating start-up in the second half of calendar 2016. We expect a significant increase in production volumes and cash flow once the plant is operational and the recovered methane is utilized to drive down operating costs in the field."
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SeaOhToo SeaOhToo 9 years ago
Issues a dividend, has a buy back program and has over $20 million in cash

Revisionary interest kicks in

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Timothy Smith Timothy Smith 9 years ago
Evolution Petroleum (NYSEMKT:EPM): FQ4 EPS of $0.05 in-line.

Revenue of $9.06M (+110.2% Y/Y) beats by $0.25M.
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SeaOhToo SeaOhToo 9 years ago
Results for the Quarter Ended March 31, 2015
•
Produced 1,640 net barrels of oil per day (“BOPD”) from the Delhi field, a 259% increase from the year-ago quarter and a 38% increase from the prior quarter.
•
Increased gross production in the Delhi field by 5.3% from the prior quarter to 6,203 BOPD from 5,892 BOPD
•
Increased total revenues to $7.1 million, 63% higher than the year-ago quarter and an 8% decrease from the prior quarter, as lower oil prices offset the effects of higher net production after the November 1, 2014 reversion of our working interest
•
Generated net income of $0.6 million, or $0.02 per diluted common share, a 25% decrease from the year-ago quarter and a 47% decrease from the prior quarter, primarily due to lower oil prices and partially offset by increased sales volumes
•
Approved the capital expenditure budget by our operating partner of $24.6 million net to the Company for the construction of a natural gas liquids (“NGL”) recovery plant in the Delhi field expected to be operational in the middle of calendar 2016 with projected gross production of 2,000 barrels of liquids per day or more
•
Reached agreement with the operator of the Delhi field to reverse suspended overriding royalty interests totaling 2.892% and collected previously suspended funds
•
Entered into three master service agreements with new large customers for installation of our GARP® technology

1

•
Successfully resolved the Jones lawsuit, which was dismissed with prejudice without any consideration being paid to plaintiffs
•
Remained debt free and distributed $1.6 million of cash dividends to our common shareholders in the current quarter
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SeaOhToo SeaOhToo 9 years ago
Delhi Field - Enhanced Oil Recovery Project

Gross production at Delhi in the third quarter of fiscal 2015 averaged 6,203 BOPD, a increase of 1% from the year-ago quarter, and a 5% increase from the prior quarter. Net production averaged 1,640 BOPD, a 259% increase from the year-ago quarter, and a 38% increase from the prior quarter. Gross production continues to be positively impacted by a replacement well that was redrilled and placed into production in January 2015.

In the quarter ending March 31, 2015, our net share of the joint interest billed lease operating expenses was approximately $2.9 million, of which $1.6 million is related to CO2 purchases and transportation expenses. Under our contract with the operator, purchased CO2 is priced at 1% of the oil price in the field per thousand cubic feet (“Mcf”) plus transportation costs of $0.20 per Mcf. Total average CO2 costs per month are down 36% from the prior quarter monthly as result of both lower oil prices and lower purchased CO2 volumes in the quarter. Purchased CO2 volumes in the prior quarter were significantly higher than the expected rates going forward of 90,000 to 95,000 Mcf per day. On a total BOE basis, average CO2 costs were down 29% from $15.33 BOE in the prior quarter to $10.82 BOE, primarily due to increased working interest volumes and lower realized oil prices in the current quarter. Our purchased CO2 costs are directly correlated with realized oil prices.

In late February 2015, we signed an authorization for expenditure for construction of a natural gas liquids ("NGL") recovery plant in the Delhi field, which will extract both NGL and methane from the field. In addition to the value of these hydrocarbon products, according to the operator, the increased purity of the CO2 stream re-injected into the field should result in significant operational benefits to the CO2 flood and potentially increase oil production from existing wells and/or accelerated recovery of oil reserves. The NGL plant has an estimated gross cost of $103 million ($24.6 million net to the Company) projected to be expended through the summer of 2016. Recovered methane will be utilized to generate much, if not all, of the electricity for the operation of the gas plant and other CO2 field operations. This will substantially reduce operating costs for both the existing field operation and the new plant operating costs. The plant is projected by the operator to produce up to approximately 2,000 barrels of NGL's per day when in full operation and NGL volumes potentially may be higher based on performance and yield.

On January 26, 2015, Denbury notified us it had withheld and suspended 2.891545% of our overriding royalty revenue interest in the field for the months of November and December 2014, as previously disclosed. This unilateral suspension of a portion of our overriding royalties by the operator was made without consultation with the Company and, we believe, was without legal basis. On February 26, 2015, we entered into an agreement under which Denbury agreed to reverse the previously disclosed suspension of our overriding royalty interest revenues and release to Evolution amounts previously suspended totaling approximately $712,000. Denbury further agreed not to suspend any future revenues attributable to any of our revenue interests, except under very limited circumstances. This agreement does not settle any of the outstanding litigation
matters with Denbury, including their counterclaim related to the net revenue interest conveyed in the 2006 Purchase and Sale Agreement.
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Zardiw Zardiw 9 years ago
EPM has NO CASH for a buyback...and that's gonna be a good trick......with the price of OIL heading into the toilet soon..........z
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SeaOhToo SeaOhToo 9 years ago
Maintaining more than $20 Million in cash
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SeaOhToo SeaOhToo 9 years ago
Evolution Petroleum Announces Share Repurchase Program
Print
Alert
European Monthly Income Trust (AMEX:EPM)
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Today : Tuesday 19 May 2015

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HOUSTON, May 19, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) ("Evolution" or the "Company") announced today that its Board of Directors approved a share repurchase program covering up to $5,000,000 of the Company's common stock. Under the program's terms, shares may be repurchased only on the open market and in accordance with the requirements of the Securities and Exchange Commission. The timing and amount of repurchases will depend upon several factors, including financial resources and market and business conditions. There is no fixed termination date for this repurchase program, and the repurchase program may be suspended or discontinued at any time. Payment for shares repurchased under the program will be funded using the Company's working capital. The Company intends to retire the repurchased shares.

Robert Herlin, Chief Executive Officer, said: "This share repurchase program underscores our confidence in the quality of our assets and ability to generate cash flow across business cycles. Our cash flow forecast through fiscal 2016 and current liquidity exceed our expected financial needs, including projected capital expenditures in the Delhi field, continued commercialization of our artificial lift technology and our current rate of common dividends. At recent market price levels, we consider our common stock to be undervalued and believe that repurchasing shares is a responsible way to return excess cash back to shareholders.

"It is notable that we are not leveraging the balance sheet with debt and increasing our financial risk in this historically cyclical industry to fund the program, and we retain the full flexibility of our undrawn credit facility. We considered the option of increasing our regular common stock dividend, but determined that the current uncertainty of oil prices and our capital commitments for the NGL plant in the Delhi field made this option less attractive than the repurchase program. We look forward to a possible increase in the common stock dividend during calendar 2016 when increased cash flow from the NGL plant should give us greater financial resources and better long-term visibility with respect to our financial performance."

Randy Keys, President and CFO, added: "We do not believe our current stock price adequately reflects the exceptionally long life and quality of our reserves and the predictability of our production profile, nor does it reasonably account for the near term catalysts for growth from the NGL plant and the expansion of the CO2 flood in the eastern part of the field. In addition, we have a strong balance sheet with no debt. Based on our most recent reserves report, production from the Delhi field is forecast to increase and, as a result, so is the expected PV-10* value of the field over the next several years while simultaneously generating significant free cash flow.

"The Delhi field is approximately 70% developed with substantially all the major infrastructure, including the CO2 pipeline, compression facilities and the majority of the CO2 injection and production wells, already in place. Based on the same reserves report, the incremental cost to complete the NGL plant and expand the CO2 flood to the eastern part of the field is estimated to be approximately $8.50 per barrel for remaining development of the proved reserves. The incremental capital cost associated with our probable reserves is only $3.30 per barrel since approximately 45% of our probable reserves are already developed, and there is no incremental capital cost associated with our possible reserves as they are incremental to previous capital expenditures. It is notable that the probable and possible reserves are associated largely with recovering more oil already in place in and around the existing wellbores."
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SeaOhToo SeaOhToo 9 years ago
Evolution Petroleum Announces Quarterly Cash Dividend on Common
(AMEX:EPM)

HOUSTON, May 14, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) ("Evolution" or the "Company") announced today that its Board of Directors has declared a quarterly cash dividend of $0.05 per common share, a rate of $0.20 per share on an annualized basis, payable on June 30, 2015, to shareholders of record as of the close of business on June 15, 2015.

Expected Tax Treatment of Dividends

Based on our current projections for the fiscal year ending June 30, 2015, we expect preferred stock dividends will be treated as qualified dividend income and that a portion of our cash dividends on common stock will be treated as a return of capital and the remainder as qualified dividend income. We will make a final determination regarding the tax treatment of dividends for the current fiscal year when we report this information to recipients.
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SeaOhToo SeaOhToo 9 years ago
Evolution Petroleum Declares Cash Dividend on 8.5% Series A Preferred Stock

Source: PR Newswire (US)
HOUSTON, May 4, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock. The dividend is for the month of May 2015 and is payable on June 1, 2015 to holders of record at the close of business on May 15, 2015. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.

Expected Tax Treatment

Based on our current projections for the fiscal year ending June 30, 2015, we expect preferred stock dividends will be treated as qualified dividend income. To the extent such dividends are treated as return of capital, they will not be reported as taxable income to the recipients, but will instead generally be treated as a reduction in the shareholder's basis in the stock. We will make a final determination regarding the tax treatment of dividends for the current fiscal year when the tax reporting process is complete.

The Series A Preferred Stock is listed on the NYSE MKT under the ticker symbol "EPM.PRA."
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SeaOhToo SeaOhToo 10 years ago
HOUSTON, Jan. 8, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today announced that it will present at the Emerging Growth Institutional Investor Forum hosted by Sidoti & Company LLC at the Grand Hyatt Hotel in New York City.

Randall D. Keys, President and Chief Financial Officer, is scheduled to make a presentation on Monday, January 12, 2015 at 2:00 p.m. Eastern Time (1:00 p.m. Central Time). The presentation will not be webcast, but the slides from the presentation will be available on the Company's website at www.evolutionpetroleum.com in the "Investor Presentations" section on the day of the event.
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SeaOhToo SeaOhToo 10 years ago
Insider buying as shareprice declines
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SeaOhToo SeaOhToo 10 years ago
10-k is out. Looking good!
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SeaOhToo SeaOhToo 10 years ago
Declaring nice dividend
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DOWNSOUTHPENNY DOWNSOUTHPENNY 10 years ago
Nice
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SeaOhToo SeaOhToo 10 years ago
Nice pull back. Adding more
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SeaOhToo SeaOhToo 10 years ago
Nice. $13.00
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SeaOhToo SeaOhToo 10 years ago
Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States. Petroleum reserves as of June 30, 2013 include 13.8 MMBOE of proved, 11.2 MMBOE of probable reserves, 3.7 MMBOE of possible reserves. Assets include a CO2-EOR project with growing production in Louisiana's Delhi Field and a patented artificial lift technology designed to extend the life and ultimate recoveries of wells with oil or associated water production. Other assets include royalty interests in almost 3,000 net acres in the Giddings Field and an interest in a joint venture in the Mississippian Lime play in Kay County, OK, and the Company has no debt. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at (www.evolutionpetroleum.com).
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SeaOhToo SeaOhToo 10 years ago
HOUSTON, Jan. 20, 2014 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) announced today that it will release its second quarter 2014 financial results after the market closes on Wednesday, February 5, 2014. An investor conference call to review the results will be held on Thursday, February 6, 2014 at 11:00 a.m. Eastern (10:00 a.m. Central). The call will be hosted by Robert Herlin, Chairman and CEO.

Date:

Thursday, February 6, 2014



Time:

11:00 a.m. Eastern (10:00 a.m. Central)



Call:

1-877-418-5260 (United States)


1-412-717-9589 (International)


1-866-605-3852 (Canada)



Internet:

To listen live and hear a rebroadcast over the Internet, go to http://www.evolutionpetroleum.com



A replay will be available one hour after the end of the conference call through February 21, 2014 at 9:00 a.m. Eastern and accessible by calling 1-877-344-7529 (US); 1-412-317-0088 (Canada/International) and using the Passcode 10039895. An archive of the webcast will be available after the call on the Company's website.
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SeaOhToo SeaOhToo 11 years ago
HOUSTON, Jan. 3, 2014 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock. The dividend is for the month of January 2014 and is payable on January 31, 2014 to holders of record at the close of business on January 15, 2014. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.

The Series A Preferred Stock is listed on the NYSE MKT under the ticker symbol "EPM.PRA."
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SeaOhToo SeaOhToo 11 years ago
Moving on.....

Thank you Sterling!

HOUSTON, Jan. 6, 2014 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today announced executive changes and additional information regarding its previously announced restructuring of operations.

Retirement of CFO

Vice President, Chief Financial Officer and Treasurer Sterling McDonald, who will turn 65 in 2014, has informed the Company of his intention to retire pending his replacement. Mr. McDonald has served as CFO and Treasurer since 2003 and was the second employee hired by the Company. As such, he played an instrumental part in the outstanding growth of the Company, overseeing the financial, accounting and administrative functions. Mr. McDonald also has been a key member of the executive team that created and executed the strategy that has developed tremendous shareholder wealth. Shareholders, the Board of Directors and staff have greatly benefited from Sterling's contributions and we wish him well in his retirement.

Mr. McDonald commented, "I am very fortunate to have worked with such a fine team in building a great company for our shareholders and creating value well in excess of our original expectations. I am confident that the management team and board of directors will continue Evolution's growth and success going forward."

Robert Herlin, Chairman and Chief Executive Officer said, "It has been my distinct pleasure to work with Sterling these last 10 years. His significant and substantial contributions have helped to position the Company for its next stage of development, and I personally thank him for his service and commitment. He will be missed, and we are fortunate to be able to count on him to facilitate the transition to his successor."

The Company has engaged a corporate recruiter to assist in identifying candidates to replace Mr. McDonald with an emphasis on oilfield services experience to help further commercialize its growing artificial lift technology business segment. Mr. McDonald will continue his present duties until his successor has been identified and elected by the Board of Directors to fill the roles of Chief Financial Officer and Principal Accounting Officer, which is expected to occur in January 2014. Mr. McDonald will be available to the Company as needed during its transition period.
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SeaOhToo SeaOhToo 11 years ago
Inching up
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SeaOhToo SeaOhToo 11 years ago
Hoovering above $12
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SeaOhToo SeaOhToo 11 years ago
HOUSTON, Aug. 2, 2013 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock.


The dividend is for the month of August 2013 and is payable on September 3, 2013 to holders of record at the close of business on August 15, 2013. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.

The Series A Preferred Stock is listed on the NYSE MKT and trades under the ticker symbol "EPM.PRA."

About Evolution Petroleum

Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States. Principal assets as of June 30, 2012 include 13.4 MMBOE of proved and 12.7 MMBOE of probable reserves, before adjustment for the divestment of noncore assets in the Giddings Field, and no debt. Producing assets include a CO2-EOR project with growing production in Louisiana's Delhi Field and producing wells and proved drilling locations in the Giddings Field and Lopez Field in Texas. Other assets include an interest in a joint venture in the Mississippian Lime play in Kay County, OK, and a patented artificial lift technology designed to extend the life of horizontal wells with oil or associated water production. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at (www.evolutionpetroleum.com)
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Timothy Smith Timothy Smith 11 years ago
$EPM - As Evolution revealed during its most recent conference call for Q1 2013 results, quarterly earnings to common shareholders increased 24% to $2.2 million, or $0.07 per diluted share, compared to $1.8 million, or $0.06 per diluted share in the prior quarter. Net income increased 71% over the year-ago quarter's $1.3 million.

Revenues also reached an all-time high by increasing 6% to $6.0 million, compared to last quarter's record $5.6 million, and increasing 24% compared to the year-ago quarter's $4.8 million. The increase over the prior quarter was primarily due to a higher rate of Delhi oil production at an oil price of $111.41 per barrel, which more than offset the loss of Giddings production divested during the second fiscal quarter.

The positive production volume trends are expected to continue, and the price of Louisiana Light Crude Oil remained high during the second quarter of 2013, and spiked higher with WTI crude surpassing the $100 mark due to Egypt tensions, providing a strong revenue base for the remainder of 2013.
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SeaOhToo SeaOhToo 11 years ago
Herlin reports disposing of 80,000 shares

http://ih.advfn.com/p.php?pid=nmona&article=58244261
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SeaOhToo SeaOhToo 11 years ago
HOUSTON, July 2, 2013 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock.

The dividend is for the month of July 2013 and is payable on July 31, 2013 to holders of record at the close of business on July 15, 2013. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.

The Series A Preferred Stock is listed on the NYSE MKT and trades under the ticker symbol "EPM.PRA."



About Evolution Petroleum

Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States. Principal assets as of June 30, 2012 include 13.4 MMBOE of proved and 12.7 MMBOE of probable reserves, before adjustment for the divestment of noncore assets in the Giddings Field, and no debt. Producing assets include a CO2-EOR project with growing production in Louisiana's Delhi Field and producing wells and proved drilling locations in the Giddings Field and Lopez Field in Texas. Other assets include an interest in a joint venture in the Mississippian Lime play in Kay County, OK, and a patented artificial lift technology designed to extend the life of horizontal wells with oil or associated water production. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at (www.evolutionpetroleum.com)

Cautionary Statement

All statements contained in this press release regarding potential results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements regarding our ability to complete transactions, successfully apply technology applications in the re-development of oil and gas fields, realize future production volumes, realize success in our drilling and development activity and forecasts of legal claims, prices, future revenues and income and cash flows and other statements that are not historical facts contain predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved and these statements will prove to be accurate. Important factors could cause actual results to differ materially from those included in the forward-looking statements.




Company Contact:
Sterling McDonald, VP & CFO
(713) 935-0122
smcdonald@evolutionpetroleum.com
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SeaOhToo SeaOhToo 11 years ago
Nice up ticks. Good returns from Delhi.
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SCREAMING EAGLE SCREAMING EAGLE 11 years ago
Nice and steady.
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SeaOhToo SeaOhToo 11 years ago
Again, another nice earnings report
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SCREAMING EAGLE SCREAMING EAGLE 11 years ago
Nice exposure to the Miss Lime..
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SCREAMING EAGLE SCREAMING EAGLE 11 years ago
This should be a great stock to own.
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SCREAMING EAGLE SCREAMING EAGLE 11 years ago
I like how the management manages the finances and growth.
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SCREAMING EAGLE SCREAMING EAGLE 11 years ago
I have watched them develop for a few years, but have not bought any stock yet.
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SCREAMING EAGLE SCREAMING EAGLE 11 years ago
This is a well run company for sure.
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Timothy Smith Timothy Smith 11 years ago
Evolution Petroleum Declares Monthly Cash Dividends on 8.5% Series A Preferred Stock

Mar 4, 2013 6:53:00 PM

HOUSTON, March 4, 2013 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock.

The dividend is for the month of March 2013 and is payable on April 1, 2013 to holders of record at the close of business on March 15, 2013. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.

The Series A Preferred Stock is listed on the NYSE MKT and trades under the ticker symbol "EPM.PRA."

About Evolution Petroleum

Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States. Principal assets as of June 30, 2012 include 13.4 MMBOE of proved and 12.7 MMBOE of probable reserves with a PV-10* of $445 million and $174 million, respectively, before adjustment for the divestment of noncore assets in the Giddings Field, and no debt. Producing assets include a CO2-EOR project with growing production in Louisiana's Delhi Field and producing wells and proved drilling locations in the Giddings Field and Lopez Field in Texas. Other assets include a 45% interest in a joint venture in the Mississippian Lime play in Kay County, OK, and a patented artificial lift technology designed to extend the life of horizontal wells with oil or associated water production. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at (www.evolutionpetroleum.com)

Cautionary Statement

All statements contained in this press release regarding potential results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements regarding our ability to complete transactions, successfully apply technology applications in the re-development of oil and gas fields, realize future production volumes, realize success in our drilling and development activity and forecasts of legal claims, prices, future revenues and income and cash flows and other statements that are not historical facts contain predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved and these statements will prove to be accurate. Important factors could cause actual results to differ materially from those included in the forward-looking statements.

* PV-10 of proved reserves is a pre-tax non-GAAP measure reconciled to the after-tax Standardized Measure of Future Net Cash Flows below. We believe that the presentation of the non-GAAP financial measure of PV-10 provides useful and relevant information to investors because of its wide use by analysts and investors in evaluating the relative monetary significance of oil and natural gas properties, and as a basis for comparison of the relative size and value of our reserves to other companies' reserves. We also use this pre-tax measure when assessing the potential return on investment related to oil and natural gas properties and in evaluating acquisition opportunities. Because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid, we believe the pre-tax measure is useful for evaluating our Company. PV-10 is not a measure of financial or operating performance under GAAP, nor is it intended to represent the market value of our estimated oil and natural gas reserves. PV-10 should not be considered in isolation or as a substitute for the Standardized Measure as defined under GAAP, and reconciled below. Probable reserves are not recognized by GAAP, and therefore the PV-10 of probable reserves cannot be reconciled to a GAAP measure.

The following table provides a reconciliation of PV-10 of each of our proved properties to the Standardized Measure.





For the Years Ended June 30




2012




2011












Estimated future net revenues
$
858,510,526


$
741,212,773
10% annual discount for estimated timing of future cash flows


(412,995,901)




(365,874,315)
Estimated future net revenues discounted at 10% (PV-10)


445,514,625




375,338,458
Estimated future income tax expenses discounted at 10%


(161,917,132)




(146,890,504)
Standardized Measure
$
283,597,493


$
228,447,954


Company Contact:

Sterling McDonald, VP & CFO

(713) 935-0122

smcdonald@evolutionpetroleum.com

SOURCE Evolution Petroleum Corporation
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Timothy Smith Timothy Smith 11 years ago
Evolution Petroleum Declares Monthly Cash Dividends on 8.5% Series A Preferred Stock

Jan 3, 2013 10:44:00 AM
HOUSTON, Jan. 3, 2013 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock.

The dividend is for the month of January 2013 and is payable on January 31, 2013 to holders of record at the close of business on January 15, 2013. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.

The Series A Preferred Stock is listed on the NYSE MKT and trades under the ticker symbol "EPM.PRA."

About Evolution Petroleum

Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States. Principal assets as of June 30, 2012 include 13.4 MMBOE of proved and 12.7 MMBOE of probable reserves with a PV10* of $445 million and $174 million, respectively, and no debt. Producing assets include a CO2-EOR project with growing production in Louisiana's Delhi Field and producing wells and proved drilling locations in the Giddings Field and Lopez Field in Texas. Other assets include a 45% interest in a joint venture with 114 gross (25 net) probable drilling locations in the Mississippian Lime play in Kay County, OK and a patented artificial lift technology designed to extend the life of horizontal wells with oil or associated water production. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at (www.evolutionpetroleum.com)

Cautionary Statement

All statements contained in this press release regarding potential results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements regarding our ability to complete transactions, successfully apply technology applications in the re-development of oil and gas fields, realize future production volumes, realize success in our drilling and development activity and forecasts of legal claims, prices, future revenues and income and cash flows and other statements that are not historical facts contain predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved and these statements will prove to be accurate. Important factors could cause actual results to differ materially from those included in the forward-looking statements.

* PV-10 of proved reserves is a pre-tax non-GAAP measure reconciled to the after-tax Standardized Measure of Future Net Cash Flows below. We believe that the presentation of the non-GAAP financial measure of PV-10 provides useful and relevant information to investors because of its wide use by analysts and investors in evaluating the relative monetary significance of oil and natural gas properties, and as a basis for comparison of the relative size and value of our reserves to other companies' reserves. We also use this pre-tax measure when assessing the potential return on investment related to oil and natural gas properties and in evaluating acquisition opportunities. Because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid, we believe the pre-tax measure is useful for evaluating our Company. PV-10 is not a measure of financial or operating performance under GAAP, nor is it intended to represent the market value of our estimated oil and natural gas reserves. PV-10 should not be considered in isolation or as a substitute for the Standardized Measure as defined under GAAP, and reconciled below. Probable reserves are not recognized by GAAP, and therefore the PV-10 of probable reserves cannot be reconciled to a GAAP measure.

The following table provides a reconciliation of PV-10 of each of our proved properties to the Standardized Measure.




For the Years Ended June 30






2012




2011




















Estimated future net revenues
$
858,510,526


$
741,212,773




10% annual discount for estimated timing of future cash flows


(412,995,901)




(365,874,315)




Estimated future net revenues discounted at 10% (PV-10)


445,514,625




375,338,458




Estimated future income tax expenses discounted at 10%


(161,917,132)




(146,890,504)




Standardized Measure
$
283,597,493


$
228,447,954




Company Contact:

Sterling McDonald, VP & CFO

(713) 935-0122

smcdonald@evolutionpetroleum.com

SOURCE Evolution Petroleum Corporation
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