Evolution Petroleum Announces the Selection of a New Chief Executive Officer

HOUSTON, TX / ACCESSWIRE / October 27, 2022 / Evolution Petroleum (NYSE American:EPM) (“Evolution” or the “Company”) today announced that its Board of Directors has selected Kelly Loyd as President and Chief Executive Officer. Mr. Loyd has been serving as Interim CEO since June 2022 and has served as a member of the Board of Directors since 2008.

Mr. Loyd has been a director of the Company since 2008 and serves as chairman of the Board’s Investment Committee. Since 2004, Mr. Loyd has been associated with Petralis Energy Partners, LLC and JVL Advisors, LLC, both private energy investment vehicles, where he has been involved in and managed numerous upstream investments in private and public companies. of energy. From 2001 to 2004, he was an associate in the energy corporate finance investment banking group at RBC Capital Markets and Howard Frazier Barker Elliot. Before 2001, Mr. Loyd is a founder and controller of LAB Sports and Entertainment, Managing Partner of Tigre Leasing, LLP and an analyst in Jefferies and Company, Inc.’s energy corporate finance investment banking group. Mr. Loyd earned a BS in Economics with Finance Applications from Southern Methodist University and his MBA from Rice University.

Robert Herlin, Chairman of the Board and founder of the Company, said, “After an extensive search process that considered many excellent candidates, we are very pleased to have Kelly lead the Company into its next phase of growth. Shown Kelly’s same high energy and passion for our mission and building the Evolution team during his service as Interim CEO. His Board service over the past thirteen years gives the Board confidence that he shares our vision for future and best leadership practices.”

Kelly Loyd, newly named President and Chief Executive Officer, added, “I am very excited to lead the talented group of professionals at Evolution as we move forward and continue to achieve our long-term goals. I am fully committed and aligned with the Board to remain steadfast in implementing the Company’s strategy of disciplined financial management and accretive capital allocation with the objective of maximizing total shareholder return.”

About Evolution Petroleum
Evolution Petroleum Corporation is an independent energy company dedicated to maximizing total return to its shareholders by owning and investing in onshore oil and natural gas assets in the United States. The Company’s long-term objective is to maximize total shareholder return from a diversified portfolio of long-term oil and natural gas properties developed through acquisition and through selective development, enhancement of production, and other efforts to exploit its oil and natural gas assets. The assets include non-operated interests in the Delhi Holt-Bryant Unit in the Delhi Field in Northeast Louisiana, a CO2 enhanced oil recovery project; non-operated interests in the Hamilton Dome Field located in Hot Springs County, Wyoming, a secondary recovery field that uses water injection wells to pressurize the reservoir; non-operated interests in the Barnett Shale located in North Texas, a natural gas producing shale reservoir; non-operated interests in the Williston Basin in North Dakota, an oil and natural gas-producing reservoir; non-operated interests in the Jonah Field in Sublette County, Wyoming; and small dominant royalty interests in four onshore Texas wells. 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 http://www.evolutionpetroleum.com.

Caution Statement
All forward-looking statements contained in this press release regarding the Company’s current expectations, potential results and future plans and objectives involve a wide range of risks and uncertainties. Statements herein that use words such as “believe,” “expect,” “plans,” “outlook,” “should,” “will,” and words of similar meaning are forward-looking statements. . Although the Company’s expectations are based on business, engineering, geological, financial and operational assumptions it believes to be reasonable, many factors could cause actual results to differ materially from its expectations and can give no assurance that its objectives will be achieved. These factors and others are detailed under the heading “Risk Factors” and elsewhere in our periodic documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.

Company Contacts
Kelly Loyd, President and Chief Executive Officer

Ryan Stash, Senior Vice President and Chief Financial Officer

(713) 935-0122

[email protected]

[email protected]

SOURCE: Evolution Petroleum Corporation

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