Evolution Petroleum is currently reviewing acquisition and development candidates meeting the criteria within its three strategic initiatives. Our general guidelines are:

• Producing or tested reservoirs with normal pressure
• Low permeability or dual porosity reservoirs
• Development potential with scale
• Mature oil fields, including those with high water cut production 
• Fields with mature horizontal wells
• Operational control
• Concentrated operations - substantial number of wells within a local area
• Value range from $1,000,000 to $100,000,000

We are particularly open to working with sellers or intermediaries that can bring specific local field knowledge to our operations on a contract or participation basis. Our typical due diligence includes:

• Verification of existing reserves and potential resources
• Verification of reservoir characteristics and geology
• Verification of commercial title
• Verification of operating expenses and access to market
• Environmental phase I audit verification with backup of at least two years of auditable direct revenues and expenses to fulfill SEC reporting requirements.