---
schema_version: "secwatch.filing_event.v1"
accession: "0001072613-25-000719"
form_type: "8-K"
ticker: "EP"
cik: "0000887396"
company_name: "EMPIRE PETROLEUM CORP"
filed_at: "2025-09-26T23:59:59+00:00"
generated_at: "2026-05-17T05:38:16.938771+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Empire Petroleum issues $4M convertible note to director Mulacek for drilling program

## Summary
- $4M promissory note issued to director Phil E. Mulacek; $2M advanced, up to $2M additional available after Mar 2026.
- Matures Sep 2027, 5.5% interest; convertible at $4.27/share (936,768 shares if fully converted).
- Warrant for 281,030 shares at $4.27/share, exercisable upon NYSE American approval; $50K fee if no approval in 60 days.
- Proceeds to fund oil & gas drilling program and working capital.
- Issuance exempt from registration under Section 4(a)(2); NYSE American listing application to be filed.

## SEC filing metadata
- accession: 0001072613-25-000719
- form_type: 8-K
- ticker: EP
- cik: 0000887396
- company_name: EMPIRE PETROLEUM CORP
- filed_at: 2025-09-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887396/000107261325000719/0001072613-25-000719-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887396/000107261325000719/emp_8k-19004.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001072613-25-000719
- JSON: https://secwatch.observer/filing/0001072613-25-000719.json
- Plain text: https://secwatch.observer/filing/0001072613-25-000719.txt

## Key facts
- Debt Financings
  EMPIRE PETROLEUM CORP incurred loan of $4,000,000 with Phil E. Mulacek at 5.5% per annum maturing September 23, 2027.
  - Instrument: loan
  - Principal: $4,000,000
  - Counterparty: Phil E. Mulacek
  - Rate: 5.5% per annum
  - Maturity: September 23, 2027
  - Event: incurrence
  source text: On September 24, 2025 (the “Original Issue Date”), Empire Petroleum Corporation (the “Company”) issued that certain Promissory Note in the aggregate principal amount of $4,000,000 (the “Note”) to Phil E. Mulacek.
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261325000719/0001072613-25-000719-index.htm
- Equity Issuances
  EMPIRE PETROLEUM CORP issued convertible note to Phil E. Mulacek for $4,000,000 aggregate principal amount.
  - Security: convertible note
  - Purchaser: Phil E. Mulacek
  - Consideration: $4,000,000 aggregate principal amount
  source text: On September 24, 2025 (the “Original Issue Date”), Empire Petroleum Corporation (the “Company”) issued that certain Promissory Note in the aggregate principal amount of $4,000,000 (the “Note”) to Phil E. Mulacek.
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261325000719/0001072613-25-000719-index.htm
- Equity Issuances
  EMPIRE PETROLEUM CORP issued 281,030 shares of common stock of warrant to Phil E. Mulacek for partial consideration for commitment to make advances.
  - Security: warrant
  - Shares: 281,030 shares of common stock
  - Purchaser: Phil E. Mulacek
  - Consideration: partial consideration for commitment to make advances
  source text: As partial consideration for the commitment to make the advances under the Note, the Company has issued a warrant certificate for Mr. Mulacek to purchase 281,030 shares of common stock of the Company (the “Warrant Shares”) at an exercise price of $4.27 per share for a period of three years (the “Warrant”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261325000719/0001072613-25-000719-index.htm

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