AI Earnings Predictions for Empire Petroleum Corporation (EP)

EX-99

2 exh_99.htm

PRESS RELEASE DATED AUGUST 17, 2026

EXHIBIT 99

EMPIRE

PETROLEUM REPORTS FINANCIAL RESULTS FOR SECOND QUARTER 2026 AND PROVIDES OPERATIONAL UPDATE

TULSA,

OK – (AUGUST 17, 2026) – Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"),

an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today announced financial results for second quarter 2026 and an update on current operations.

SECOND

QUARTER 2026 HIGHLIGHTS

o Reported Q2-2026 net production volumes of 1,825 barrels of oil equivalent per day (“Boe/d”) including 1,278 barrels of oil per day (“Bbl/d”);

■Boe/d is comprised of 70% oil, 18% natural gas liquids (“NGLs”), and 12% natural gas;

oIn Q2-2026, Empire’s Texas development and drilling activity expanded with the arrival of the first drilling rig on location in June, marking a significant operational milestone as the Company continued to advance reactivation, recompletion, well-deepening, and drilling initiatives across the assets;

■Empire strategically invested in field infrastructure and gas compression over the past two quarters to eliminate the risk of stranded gas and allow for the immediate realization of gas sales;

■During the quarter, the infrastructure’s compression capacity increased to approximately 700% of its initial level, raising system throughput to approximately 9.5 million cubic feet per day (“MMcfd”), and supporting higher sustained gas production volumes as additional wells are brought online;

■Five wells were placed online through reactivations, recompletions, and well-deepening activities, while four additional wells advanced toward first production, increasing active contributions across multiple intervals;

■The Company’s deep-target evaluation advanced successfully, and subsequent to quarter-end, Empire re-entered, underreamed, logged, and cored the Wakefield-Harrison GU B #1 well to 21,006 feet measured depth, confirming hydrocarbon C1 and C4-plus from approximately 10,000 ft to 21,006 ft;

■Based on publicly disclosed operating data, Empire is the first microcap energy company to successfully log open-hole intervals across the Travis Peak, Cotton Valley Sand, Bossier, and Haynesville formations to a depth of 21,006 ft, supporting the Company’s phased development strategy leveraging over 100 existing wellbores and infrastructure throughout the Fort Trinidad field;

oDuring Q2-2026, Empire progressed its second-generation thermal recovery operations in the Starbuck Drilling Program (“Starbuck”) in North Dakota with completion of a major retrofit milestone, which is designed to improve heat delivery and strengthen oil performance within the Upper Charles interval;

■The Company targeted well workover and downhole enhancement efforts, positioning an additional well for upcoming reactivation and supporting incremental oil volumes;

■Empire progressed upgrades to surface production facilities during the quarter, enhancing crude oil separation and storage capabilities while creating opportunities for meaningful reductions in operating and maintenance costs as field production increases;

oIn Q2-2026, Empire advanced its participation in a Louisiana oil and natural gas development program through amended terms to reflect Empire’s full involvement across the three-well program for a 25% working interest with various related parties;

■Participation was funded by issuance of approximately 1.8 million shares of Empire common stock at a price of $3.00 per share issued in the second quarter of 2026;

■

During the quarter, development continued through drilling, logging, and evaluation activities across the three wells, confirming substantial sand development and strengthening confidence in the broader resource potential, as subsurface results demonstrated increases in net pay thickness and validated reservoir continuity, reducing development risk and supporting planning for additional wells;

■

Wells were drilled and uncompleted (“DUC’s”), with completion operations targeted for Q4-2026, while further operational activities have advanced the program, including one well already deepened to evaluate additional reserve potential and preparations underway to generate cash flow later this year;

oIn May 2026, Empire entered into a sales agreement with Roth Capital Partners, under which the Company may sell from time to time shares of Empire’s common stock having an aggregate gross sales price of up to $7.5 million in an at-the-market offering at prices and terms to be determined at the time of the sale;

■At this time, no shares have been issued;

oReported Q2-2026 total product revenue of $11.1 million, a net loss of $1.9 million, or ($0.05) per diluted share;

■Adjusted EBITDA of $0.4 million for Q2-2026, compared to ($1.2) million in Q2-2025;

■Results for the quarter were primarily influenced by higher realized pricing offset by lower production year over year, reduced operating co

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

Current Report

Pursuant To Section 13 or 15 (d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported):

MARCH

16, 2026

EMPIRE

PETROLEUM CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 001-16653 73-1238709

(State or Other Jurisdiction (Commission (I.R.S. Employer

of Incorporation) File Number) Identification No.)

2200 S. Utica Place, Suite 150, Tulsa, Oklahoma 74114

(Address of Principal Executive Offices)       (Zip Code)

Registrant’s telephone number, including area code:   (539) 444-8002

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17

CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock $0.001 par value

EP

NYSE

American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.Results of Operations and Financial Condition.

On March 16, 2026, Empire Petroleum Corporation (the “Company”) issued a press release announcing its financial and operating results for the fourth quarter and full year 2025. A copy of the press release is furnished herewith as Exhibit 99.

This information is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01.Financial Statements and Exhibits.

(d)Exhibits.

The following exhibits are filed or furnished herewith.

Exhibit

Number

Description

99 Press Release of Empire Petroleum Corporation dated March 16, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EMPIRE

PETROLEUM CORPORATION

Date: March 16, 2026 By: /s/ Michael R. Morrisett

Michael R. Morrisett

President and Chief Executive Officer

3