Evolution Petroleum Declares Monthly Cash Dividends on 8.5% Series A Preferred Stock

Thu Jan 3, 2013 10:44am EST

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HOUSTON,  Jan. 3, 2013  /PRNewswire/ -- Evolution Petroleum Corporation (NYSE
MKT: EPM) today declared a monthly cash dividend on its perpetual
non-convertible 8.5% Series A Cumulative Preferred Stock.   

The dividend is for the month of  January 2013  and is payable on  January 31,
2013  to holders of record at the close of business on  January 15, 2013.  The
payment will be 1/12th of the 8.5% annualized amount, or approximately 
$0.177083  per share, based on the  $25.00  per share liquidation preference.  

The Series A Preferred Stock is listed on the NYSE MKT and trades under the
ticker symbol "EPM.PRA."    

About Evolution Petroleum
Evolution Petroleum Corporation develops incremental petroleum reserves and
shareholder value by applying conventional and specialized technology to known
oil and gas resources, onshore in  the United States.   Principal assets as of 
June 30, 2012  include 13.4 MMBOE of proved and 12.7 MMBOE of probable reserves
with a PV10* of  $445 million  and  $174 million, respectively, and no debt. 
Producing assets include a CO2-EOR project with growing production in 
Louisiana's Delhi Field and producing wells and proved drilling locations in the
Giddings Field and  Lopez Field  in Texas.  Other assets include a 45% interest
in a joint venture with 114 gross (25 net) probable drilling locations in the
Mississippian Lime play in  Kay County, OK  and a patented artificial lift
technology designed to extend the life of horizontal wells with oil or
associated water production.  Additional information, including the Company's
annual report on Form 10-K and its quarterly reports on Form 10-Q, is available
on its website at (www.evolutionpetroleum.com)

Cautionary Statement  
All statements contained in this press release regarding potential results and
future plans and objectives of the Company are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. The Company
undertakes no obligation to update or review any forward-looking statement,
whether as a result of new information, future events, or otherwise. Important
factors that could cause actual results to differ materially from our
expectations include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in our documents filed from time
to time with the United States Securities and Exchange Commission and other
regulatory authorities. Statements regarding our ability to complete
transactions, successfully apply technology applications in the re-development
of oil and gas fields, realize future production volumes, realize success in our
drilling and development activity and forecasts of legal claims, prices, future
revenues and income and cash flows and other statements that are not historical
facts contain predictions, estimates and other forward-looking statements.
Although the Company believes that its expectations are based on reasonable
assumptions, it can give no assurance that its goals will be achieved and these
statements will prove to be accurate. Important factors could cause actual
results to differ materially from those included in the forward-looking

* PV-10 of proved reserves is a pre-tax non-GAAP measure reconciled to the
after-tax Standardized Measure of Future Net Cash Flows below.  We believe that
the presentation of the non-GAAP financial measure of PV-10 provides useful and
relevant information to investors because of its wide use by analysts and
investors in evaluating the relative monetary significance of oil and natural
gas properties, and as a basis for comparison of the relative size and value of
our reserves to other companies' reserves.  We also use this pre-tax measure
when assessing the potential return on investment related to oil and natural gas
properties and in evaluating acquisition opportunities.  Because there are many
unique factors that can impact an individual company when estimating the amount
of future income taxes to be paid, we believe the pre-tax measure is useful for
evaluating our Company.  PV-10 is not a measure of financial or operating
performance under GAAP, nor is it intended to represent the market value of our
estimated oil and natural gas reserves. PV-10 should not be considered in
isolation or as a substitute for the Standardized Measure as defined under GAAP,
and reconciled below.  Probable reserves are not recognized by GAAP, and
therefore the PV-10 of probable reserves cannot be reconciled to a GAAP measure.

The following table provides a reconciliation of PV-10 of each of our proved
properties to the Standardized Measure.

                                                                For the Years Ended June 30                                      
                                                                       2012                         2011                    
 Estimated future net revenues                                  $      858,510,526           $      741,212,773             
 10% annual discount for estimated timing of future cash flows         (412,995,901)                (365,874,315)           
 Estimated future net revenues discounted at 10% (PV-10)               445,514,625                  375,338,458             
 Estimated future income tax expenses discounted at 10%                (161,917,132)                (146,890,504)           
 Standardized Measure                                           $      283,597,493           $      228,447,954             

Company Contact:      
Sterling McDonald, VP & CFO  
(713) 935-0122

SOURCE  Evolution Petroleum Corporation
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