---
schema_version: "secwatch.filing_event.v1"
accession: "0001072613-26-000199"
form_type: "8-K"
ticker: "EP"
cik: "0000887396"
company_name: "EMPIRE PETROLEUM CORP"
filed_at: "2026-02-23T23:59:59+00:00"
generated_at: "2026-05-16T01:20:25.549602+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Empire Petroleum issues $3M promissory note to Phil Mulacek; convertible at $2.99/share

## Summary
- Principal $3M, interest 5.5% per annum, matures May 19, 2026; post-maturity default rate 9%.
- Conversion price $2.99/share; full conversion would issue 1,003,344 shares of common stock.
- Proceeds used to repay debt and for general working capital.
- Note was issued in a private placement exempt under Section 4(a)(2) of the Securities Act.
- Phil Mulacek is a director of the Company; the note is unregistered.

## SEC filing metadata
- accession: 0001072613-26-000199
- form_type: 8-K
- ticker: EP
- cik: 0000887396
- company_name: EMPIRE PETROLEUM CORP
- filed_at: 2026-02-23T23:59:59+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/887396/000107261326000199/0001072613-26-000199-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887396/000107261326000199/emp_8k-19032.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001072613-26-000199
- JSON: https://secwatch.observer/filing/0001072613-26-000199.json
- Plain text: https://secwatch.observer/filing/0001072613-26-000199.txt

## Source-grounded claims
- claim_id: e077e950a9ae0171f2e1dfc0c17fd20175ce904c
  claim: EMPIRE PETROLEUM CORP incurred loan of $3,000,000 with Phil E. Mulacek at 5.5% per annum maturing May 19, 2026.
  evidence_excerpt: On February 19, 2026, Empire Petroleum Corporation (the “Company”) issued that certain Promissory Note in the aggregate principal amount of $3,000,000 (the “Note”) to Phil E. Mulacek.
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261326000199/0001072613-26-000199-index.htm
- claim_id: 4699276d0f04971ed81e19a05542136b395c0317
  claim: EMPIRE PETROLEUM CORP entered into Promissory Note with Phil E. Mulacek valued at $3,000,000 (effective 2026-02-19).
  evidence_excerpt: On February 19, 2026, Empire Petroleum Corporation (the “Company”) issued that certain Promissory Note in the aggregate principal amount of $3,000,000 (the “Note”) to Phil E. Mulacek.
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261326000199/0001072613-26-000199-index.htm

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