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

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Evolution Petroleum Declares Monthly Cash Dividends on 8.5% Series A

Preferred Stock

HOUSTON, March 3, 2014 /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 March 2014 and is payable on March

31, 2014 to holders of record at the close of business on March 17,

2014. 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.

Expected Tax Treatment:

As a result of the previously announced exercise in November 2013 of

the substantial majority of the outstanding stock options and warrants

held by officers, directors and staff, the Company realized $31.2

million in current and future income tax deductions related to these

exercises. Due to the magnitude of these tax deductions, we expect

that all monthly preferred stock dividends paid through at least June

30, 2014 will be treated for tax purposes as return of capital to

shareholders. Such dividends will not be reported as taxable income to

the recipients, but will instead generally be treated as a reduction

in the shareholder's basis in the stock.

The Series A Preferred Stock is listed on the NYSE MKT 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, 2013 include 13.8 MMBOE

of proved, 11.2 MMBOE of probable reserves, 3.7 MMBOE of possible

reserves, and no debt. Assets include a CO2-EOR project with growing

production in Louisiana's Delhi Field and a patented artificial lift

technology designed to extend the life and ultimate recoveries of

wells with oil or associated water production. Other assets include

royalty interests in almost 3,000 net acres in the Giddings Field and

an interest in a joint venture in the Mississippian Lime play in Kay

County, OK. 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 Additional

information regarding GARP@ is available on the


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, income, cash flows

and other comments 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 statements.

Company Contact: Robert Herlin, CEO (713) 935-0122

SOURCE Evolution Petroleum Corporation

-0- 03/03/2014

/Web Site:



CO: Evolution Petroleum Corporation

ST: Texas




-- LA75976 --

0000 03/03/2014 23:34:00 EDT

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