---
schema_version: "secwatch.filing_event.v1"
accession: "0001072613-24-000261"
form_type: "8-K"
ticker: "EP"
cik: "0000887396"
company_name: "EMPIRE PETROLEUM CORP"
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T22:33:04.284140+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Empire Petroleum issues $5M promissory note to Energy Evolution Master Fund at 7% interest

## Summary
- Note principal $5M; $2.5M funded immediately; up to additional $2.5M available over three months.
- Interest 7% p.a. (9% post-maturity); conversion price $6.25/share, yielding up to 800k shares.
- Matures Feb 15, 2026; proceeds for drilling program and working capital.
- Interest payments at Energy Evolution's option in cash or common stock.
- Note issued as unregistered security under Section 4(a)(2) exemption.

## SEC filing metadata
- accession: 0001072613-24-000261
- form_type: 8-K
- ticker: EP
- cik: 0000887396
- company_name: EMPIRE PETROLEUM CORP
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887396/000107261324000261/0001072613-24-000261-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887396/000107261324000261/emp_8k-18799.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001072613-24-000261
- JSON: https://secwatch.observer/filing/0001072613-24-000261.json
- Plain text: https://secwatch.observer/filing/0001072613-24-000261.txt

## Key facts
- Debt Financings
  EMPIRE PETROLEUM CORP incurred loan of $5,000,000 with Energy Evolution Master Fund, Ltd. at 7% per annum maturing February 15, 2026.
  - Instrument: loan
  - Principal: $5,000,000
  - Counterparty: Energy Evolution Master Fund, Ltd.
  - Rate: 7% per annum
  - Maturity: February 15, 2026
  - Event: incurrence
  source text: On February 16, 2024, Empire Petroleum Corporation (the “Company”) issued that certain Promissory Note in the aggregate principal amount of $5,000,000 (the “Note”) to Energy Evolution Master Fund, Ltd.
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261324000261/0001072613-24-000261-index.htm
- Material Agreements
  EMPIRE PETROLEUM CORP entered into Promissory Note with Energy Evolution Master Fund, Ltd. valued at $5,000,000 (effective 2024-02-16).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Energy Evolution Master Fund, Ltd.
  - Value: $5,000,000
  - Effective: 2024-02-16
  source text: On February 16, 2024, Empire Petroleum Corporation (the “Company”) issued that certain Promissory Note in the aggregate principal amount of $5,000,000 (the “Note”) to Energy Evolution Master Fund, Ltd., a Cayman Islands exempted company (“Energy Evolution”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261324000261/0001072613-24-000261-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.