Michael R. Morrisett - May 27, 2021 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Role: President, Director, 10%+ Owner
Signature: /s/ Michael R. Morrisett
Stock symbol: EP
Transactions as of: May 27, 2021
Transactions value $: -$150,000
Form type: 4
Date filed: 6/1/2021, 08:43 PM
Next filing: Sep 30, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EP	Common Stock	Exercise of in-the-money or at-the-money derivative security	$75K	+300K	+17.72%	$0.25^*	1.99M	May 27, 2021	Direct
transaction	EP	Common Stock	Sale	-$225K	-300K	-15.05%	$0.75^*	1.69M	May 27, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EP	Common Stock Warrant (Right to Buy)	Exercise of in-the-money or at-the-money derivative security	$0	-300K	-60%	$0.00	200K	May 27, 2021	Common Stock	300K	$0.25	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Common Stock Warrant was amended on 04/03/2019 to extend the expiration date from 12/31/2021 to 04/02/2029.