Evolution Petroleum (EPM) purchased its first oil and gas property, the Delhi Field, in northern Louisiana in September 2003 as part of our enhanced oil recovery initiative, and its second group of properties in north central Louisiana's Tullos Urania Field area in September 2004 and February 2005 (divested in 2008) as part of our conventional redevelopment of bypassed resources initiative. We initiated our third project, also within the conventional redevelopment initiative, in the Giddings Field in central Texas and our fourth project in eastern Oklahoma within the unconventional gas resource development initiative, both in 2006. 

Each executive team member has over 20 years of specialized experience in oil and gas operations, development, acquisitions and financing. The EPM team follows a strategy of outsourcing most of it property, corporate administrative and accounting functions, thereby allowing its staff to focus on increasing intrinsic value per common share.