Empire Petroleum enters 3-well Louisiana development program; 25% WI funded via 700,000 shares

EMPIRE PETROLEUM CORP

25% working interest in initial well of three-well program targeting proven Louisiana formations.
Drilling and completion costs funded through issuance of ~700,000 shares of Empire common stock.
Operator completed test well in East Perkins Field, Calcasieu Parish; strong pressure (9,100+ psi) and hydrocarbon flare seen.
Completion operations on initial well expected to begin April 2026; production testing to follow.
Program may open future midstream-adjacent opportunities for stable cash flow, per CEO Mike Morrisett.

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