Past year: ▼ 9%(2.28 – 3.30 USD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Feb 2026capital raising announcement▼ BadMajor
Mulacek lent Empire Petroleum another $3 million on a short, 3-month note (convertible at $2.99/share, its lowest conversion price yet) explicitly to repay other debt and fund working capital - a sign of tightening liquidity even as insider support continues.
26 Sept 2025capital raising announcement▼ BadMajor
Phil Mulacek personally lent Empire Petroleum a new $4 million note (5.5%/9% interest, convertible at $4.27/share - down sharply from the $6.25 conversion price on Energy Evolution's 2024 note, reflecting a lower share price) to fund drilling and working capital.
6 Aug 2024capital raising announcement▲ Good
Empire paid off the last $1.06 million owed on PIE's original 2020 Texas workover loan by issuing PIE 205,427 shares, terminating that loan agreement.
31 May 2024capital raising announcement▲ GoodMajor
Energy Evolution drew the remaining balance of its February note to $5 million, then immediately converted the whole amount into 800,000 shares at $6.25 each.
21 Feb 2024capital raising announcement● NeutralMajor
Energy Evolution advanced Empire Petroleum a new $5 million note (7%/9% interest, convertible at $6.25/share) to fund its ongoing drilling program, $2.5 million drawn immediately with the rest available over the following months.
29 Nov 2023capital raising announcement▲ GoodMajor
Mulacek and Energy Evolution each bought $10.05 million of Empire stock at $8.00/share - a combined $20.1 million - paid partly in cash and partly by cancelling the $5 million North Dakota bridge loan each had extended to fund the Starbuck field redevelopment, converting that insider debt into equity.
9 Mar 2022capital raising announcement● NeutralMajor
Empire Petroleum handed effective board control to Phil Mulacek (an Energy Evolution principal): new Series A Voting Preferred Stock issued to him elects 3 of the company's 6 directors outright, and gives his co-chairman the tie-breaking vote in any board deadlock - a real concentration of control in exchange for Energy Evolution's continued financial backing, alongside a 1-for-4 reverse stock split.
20 May 2021capital raising announcement▲ GoodMajor
Empire New Mexico borrowed $16.25 million from Energy Evolution Master Fund via a senior secured convertible note to fund the Eunice Monument acquisition from ExxonMobil subsidiary XTO Holdings (702 wells in Lea County, NM) - a larger financing than a prior pass's figure suggested, and the deal also gave Energy Evolution the right to name board members including a chairman with a tie-breaking vote, the start of what became a controlling relationship.
1 Apr 2021capital raising announcement▲ GoodMajor
Empire Petroleum raised $3.15 million (8.99 million shares plus warrants at $0.50) from 38 accredited investors, capital raised just weeks before it financed and closed its largest-ever acquisition, the Eunice Monument field.
11 Aug 2020capital raising announcement▲ GoodMajor
Empire brought in Petroleum Independent & Exploration (PIE) as both financier and operating partner for its Texas wells: PIE bought $525,000 of stock and warrants, and lent Empire Texas up to $2 million to fund well workovers, taking a majority working interest in the reworked wells until the loan is repaid, after which most of the interest reverts to Empire and a partner.
3 Mar 2015capital raising announcement▲ GoodMajor
Under new President/CEO Michael Morrisett following the December 2014 change of control, Empire Petroleum raised $135,000 (1.08 million shares plus warrants) in its first private placement of the rebuild era.
What it means for a shareholder
1.1m new shares at about US$0.125 to raise about US$135,000. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held US$1,000 of shares (8,000 at the issue price), your slice goes from 0.0918% to 0.0817% of the company. To keep it you'd need 992 more shares - about US$124 at the issue price.
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6 Mar 2014capital raising announcement● NeutralMajor
Empire and chairman/CEO Albert Whitehead gave Sierra Nevada Oil LLC a 90-day call option over 4,000,000 shares at $0.25, $1,000,000 in aggregate less the $50,000 Sierra had already paid for the option itself. If Sierra exercises, Whitehead is to use commercially reasonable efforts to have the whole existing board resign and three Sierra nominees appointed - so the option is a change-of-control mechanism, not just a financing. The filing does not say whether it was exercised.
What it means for a shareholder
4.0m new shares at US$0.250 to raise about US$1.0m. That's 34% dilution: every existing holder's slice gets 34% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0524% to 0.0344% of the company. To keep it you'd need 2,097 more shares - about US$524 at the issue price.
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11 Dec 2012capital raising announcement▼ BadMajor
Empire Petroleum converted $300,013 owed to CEO Albert Whitehead's trust - three separate notes made over nearly two years - into 6,000,250 shares at just $0.05 each, underscoring how thin the company's finances had become before its 2014 change of control.
7 Feb 2011capital raising announcement▼ BadMajor
With outside financing scarce, CEO Albert Whitehead personally lent Empire Petroleum $100,000 through his own family trust, convertible into stock at $0.10/share - a sign of how dependent the company had become on its own CEO for cash.
21 Jan 2010capital raising announcement▼ Bad
Empire Petroleum raised another $310,000 (4.43 million shares) from eight investors under the same 2009-2010 offering.
What it means for a shareholder
4.4m new shares at about US$0.070 to raise about US$310,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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4 Jan 2010capital raising announcement▼ Bad
Empire Petroleum raised a further $260,000 (3.71 million shares) from three investors, part of a small 2009-2010 offering during the company's pre-2014 financial decline.
What it means for a shareholder
3.7m new shares at about US$0.0701 to raise about US$260,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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9 June 2005capital raising announcement● Neutral
During its Nevada exploration era, Empire Petroleum raised $500,000 in a private placement (5 million shares plus warrants at $0.25) from five accredited investors.
What it means for a shareholder
5.0m new shares at about US$0.100 to raise about US$500,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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