<SEC-DOCUMENT>0000887396-14-000002.txt : 20140306
<SEC-HEADER>0000887396-14-000002.hdr.sgml : 20140306
<ACCEPTANCE-DATETIME>20140306121220
ACCESSION NUMBER:		0000887396-14-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140304
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140306
DATE AS OF CHANGE:		20140306

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EMPIRE PETROLEUM CORP
		CENTRAL INDEX KEY:			0000887396
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				731238709
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1213

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16653
		FILM NUMBER:		14672078

	BUSINESS ADDRESS:	
		STREET 1:		6506 S. LEWIS AVE.
		STREET 2:		SUITE 112
		CITY:			TULSA
		STATE:			OK
		ZIP:			74136-1020
		BUSINESS PHONE:		918-488-8068

	MAIL ADDRESS:	
		STREET 1:		6506 S. LEWIS AVE.
		STREET 2:		SUITE 112
		CITY:			TULSA
		STATE:			OK
		ZIP:			74136-1020

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICOMM RESOURCES CORP
		DATE OF NAME CHANGE:	19951115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICOMM CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k342014.htm
<DESCRIPTION>FORM 8-K (3/4/14) CALL OPTION AGREEMENT
<TEXT>
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<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 3.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 18pt/85% Tiempo Bold,serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font: 18pt/85% Tiempo Bold,serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>SECURITIES AND
EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 6pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>______________________________</B></FONT></P>

<P STYLE="font: 10pt/85% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>WASHINGTON,
D.C. 20549</B></FONT></P>

<P STYLE="font: 22pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 22pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 16pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt"><B>Current
Report </B></FONT></P>

<P STYLE="font: 12pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt"><B>Pursuant
To Section 13 or 15 (</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: -0.1pt">d</FONT></B><B><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt">)
of the Securities Exchange Act of 1934</FONT></B></P>

<P STYLE="font: 9pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt"><B>Date
of Report (date of earliest event reported):</B></FONT></P>

<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt/85% Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-variant: small-caps; text-transform: none; letter-spacing: -0.1pt">MARCH
4, 2014</FONT></P>

<P STYLE="font: 9pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 18pt/85% Microstyle Bold Extended ATT; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>EMPIRE
PETROLEUM CORPORATION</B></FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>(Exact name of registrant
as specified in its charter)</B></FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt CG Times (W1); text-align: center"><FONT STYLE="font-size: 12pt; letter-spacing: -0.1pt; line-height: 85%"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt CG Times (W1); text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt; line-height: 85%"><B>001-16653</B></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt CG Times (W1); text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt; line-height: 85%"><B>73-1238709</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>(State or other
        jurisdiction</B></FONT></P>
        <P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>of incorporation)</B></FONT></P></TD>
    <TD STYLE="font: 11pt CG Times (W1); padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt; line-height: 85%"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="font: 11pt CG Times (W1); padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt; line-height: 85%"><B>(I.R.S. Employer Identification No.)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0; text-align: center"><B>6506 S. Lewis Ave., Suite 112, Tulsa, OK<FONT STYLE="letter-spacing: -0.1pt">
&#9;</FONT>74316-1020</B></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(Address of principal
executive offices) (Zip Code)</FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>(918) 488-8068</B></FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Registrant's telephone
number, including area code) </FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Former name or former
address, if changed since last report)</FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">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
(see General Instruction A.2. below):</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">[ ] Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">[ ] Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">[ ] Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">[ ] Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt/85% CG Times (W1); margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt CG Times (W1); margin: 0; text-align: justify; text-indent: 0.5in">On March 4, 2014, Empire Petroleum Corporation
(the &ldquo;Company&rdquo;), Albert E. Whitehead and Sierra Nevada Oil LLC (&ldquo;Sierra&rdquo;) entered into a Call Option Agreement
(the &ldquo;Call Option Agreement&rdquo;). The Call Option Agreement provides Sierra with a call option (the &ldquo;Call Option&rdquo;)
to purchase 4,000,000 shares of common stock of the Company at a price of (i) $0.25 per share or an aggregate of $1,000,000, less
(ii) the $50,000 paid by Sierra to the Company as consideration for the Call Option Agreement. The Call Option expires 90 days
after the date of the Call Option Agreement. If the Call Option is exercised by Sierra, the purchase of shares will be consummated
using a Securities Purchase Agreement substantially in the form attached to the Call Option Agreement as Exhibit A thereto. The
Call Option Agreement also provides that, if the Call Option is exercised by Sierra, Albert W. Whitehead, the Company&rsquo;s Chief
Executive Officer and the Chairman of the Company&rsquo;s Board of Directors, will take commercially reasonable efforts to cause
the current members of the Company&rsquo;s Board of Directors, Albert E. Whitehead, Montague H. Hackett, Jr. and Kevin R. Seth,
to resign from the Company&rsquo;s Board of Directors and three of Sierra&rsquo;s designees to be appointed to the Company&rsquo;s
Board of Directors.</P>

<P STYLE="font: 11pt CG Times (W1); margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;3.02. Unregistered Sales of Equity Securities. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The information set forth
under Item 1.01 above is incorporated herein by reference. The private placement of the Call Option to Sierra was made in reliance
upon an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof.
Sierra is a sophisticated investor with the experience and expertise to evaluate the merits and risks of an investment in the Company&rsquo;s
securities and the financial means to bear the risks of such an investment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 13.5pt 0 0"><B>Item&nbsp;9.01. Financial Statements and Exhibits. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font: 11pt CG Times (W1)"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD STYLE="font: 11pt CG Times (W1)"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><I>Exhibits.</I> </FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 24.5pt">The following exhibit is filed herewith.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; border-bottom: black 0.75pt solid">Exhibit&nbsp;No.</P></TD>
    <TD STYLE="font: 11pt CG Times (W1)">&nbsp;</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; border-bottom: black 0.75pt solid">Description</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 76.5pt">10.1</TD><TD STYLE="text-align: justify">Call Option Agreement dated March 4, 2014, by and among Empire Petroleum Corporation, Albert E.
Whitehead and Sierra Nevada Oil LLC</TD></TR></TABLE>

<P STYLE="font: 11pt/normal CG Times (W1); margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt/normal Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center"><FONT STYLE="text-transform: none">SIGNATURES</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt CG Times (W1); margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: CG Times (W1)">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">EMPIRE PETROLEUM CORPORATION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Date: March 4, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">/s/ Albert E. Whitehead</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Albert E. Whitehead</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt CG Times (W1); margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101.htm
<DESCRIPTION>CALL OPTION AGREEMENT
<TEXT>
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<P STYLE="font: bold 12pt/15pt Times New Roman, Times, Serif; margin: 0; text-align: justify">EXHIBIT 10.1</P>

<P STYLE="font: bold 12pt/15pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman, Times, Serif; margin: 0; text-align: center">CALL OPTION AGREEMENT</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify; text-indent: 0.5in">This Call
Option Agreement (this &ldquo;<FONT STYLE="color: black"><B>Agreement</B></FONT>&rdquo;), is made and entered as of March 4, 2014
(the &ldquo;<B>Effective Date</B>&rdquo;), by and among Empire Petroleum Corporation, a Delaware corporation (the &ldquo;<FONT STYLE="color: black"><B>Company</B></FONT>&rdquo;),
Albert E. Whitehead, an individual (&ldquo;<B>AEW</B>&rdquo;), and Sierra Nevada Oil LLC, a Nevada domestic limited-liability company
(&ldquo;<FONT STYLE="color: black"><B>Sierra Nevada</B></FONT>&rdquo;). The Company, AEW and Sierra Nevada are sometimes collectively
referred to herein as the &ldquo;<B>Parties</B>&rdquo; and singly as a &ldquo;<B>Party</B>.&rdquo;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify; text-indent: 0.5in">WHEREAS,
Sierra Nevada desires to have the right to purchase 4,000,000 shares (the &ldquo;<FONT STYLE="color: black"><B>Shares</B></FONT>&rdquo;)
of the Company&rsquo;s common stock, and the Company desires to grant such right to Sierra Nevada, pursuant to the terms and conditions
set forth herein.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE,
in consideration of the foregoing, and the mutual and dependent covenants hereinafter set forth, the Parties agree as follows:</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Grant of Call Option</U>.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Option Purchase Price</U>. On the Effective Date, Sierra Nevada has paid the Company $50,000 (the &ldquo;<B>Option Purchase
Price</B>&rdquo;) for the Call Right (as defined in <B>Section 1(b)</B>). For the avoidance of doubt, the Option Purchase Price
is non-refundable, even in the event Sierra Nevada determines not exercise the Call Right. The Company agrees to use the Option
Purchase Price for general working capital and other legitimate third-party, non-affiliate debts and/or Company operating expenses,
and, prior to the Call End Date (as defined in <B>Section 1(b)</B>), shall not use the Option Purchase Price to pay any indebtedness
owed to any stockholder, officer, or director of the Company.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Right to Purchase</U>. Subject to the terms and conditions of this Agreement, at any time from the Effective Date through
ninety days thereafter (the &ldquo;<FONT STYLE="color: black"><B>Call End Date</B></FONT>&rdquo;), Sierra Nevada shall have the
right (the &ldquo;<FONT STYLE="color: black"><B>Call Right</B></FONT>&rdquo;), but not the obligation, to purchase all, but not
less than all, of the Shares at a purchase price of (i) $0.25 per Share or an aggregate of $1,000,000, <I>less</I> (ii) the Option
Purchase Price (as reduced, the &ldquo;<B>Call Purchase Price</B>&rdquo;), which Call Right may be exercised by Sierra Nevada and/or
up to three of its designees, provided, however, any such purchasers must be accredited investors as further described in the Securities
Purchase Agreement (as defined in <B>Section 1(d)</B>) (each, a &ldquo;<B>Purchaser</B>&rdquo; and, collectively, the &ldquo;<B>Purchasers</B>&rdquo;).</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Procedures</U>.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a Purchaser desires to purchase the Shares, Sierra Nevada shall deliver to the Company a written notice (the &ldquo;<FONT STYLE="color: black"><B>Call
Exercise Notice</B></FONT>&rdquo;) exercising the Call Right on or before the Call End Date. In the event the Call Right is not
exercised on or before the Call End Date, the Call Right shall automatically, without further action, expire and become null and
void.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The closing of any sale of Shares pursuant to this <B>Section 1</B> shall take place at the Company&rsquo;s office at a
time mutually agreeable to the Parties but in no event later than five business days following receipt by the Company of the Call
Exercise Notice.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Consummation of Sale</U>. The consummation of the sale of the Shares, if any, shall be accomplished using the securities
purchase agreement substantially in the form attached hereto as <U>Exhibit A</U> (the &ldquo;<B>Securities Purchase Agreement</B>&rdquo;)
and the Purchaser(s), payment of the Call Purchase Price by certified or official bank check or by wire transfer of immediately
available funds.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Post Closing Covenants</U>.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;(a)&#9;The Parties acknowledge and
agree that (i) the Company currently owes AEW, its President, CEO and largest stockholder, $91,580 in outstanding indebtedness,
plus accrued interest of approximately $935 and (ii) the Company shall use proceeds from the Call Purchase Price to pay such indebtedness
and accrued interest in full.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;(b)&#9;Provided the sale of the Shares
is consummated as described in <B>Section 1(d)</B>, AEW hereby agrees to take commercially reasonable efforts to cause (i) Sierra
Nevada&rsquo;s designees to be appointed to fill all seats on the Company&rsquo;s Board of Directors and (ii) all other members
of the Company&rsquo;s Board of Directors to resign.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U>. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in
writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received
by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or
e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the
next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified
or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the
addresses indicated below (or at such other address for a party as shall be specified in a notice given in accordance with this
<B>Section 3</B>).</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt">If to Sierra Nevada:</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P></TD>
    <TD STYLE="width: 56%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Sierra Nevada Oil LLC</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">P. O. Box 16187</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">South Lake Tahoe, CA 96151</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Facsimile: [&bull;]</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">E-mail: <FONT STYLE="color: black">pafagen@yahoo.com</FONT></P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Attention: Patrick A. Fagen, Manager</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt/15pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">If to the Company or AEW:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Empire Petroleum Corporation</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">6506 S. Lewis Ave., Suite 112</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Tulsa, OK 74136-1020</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Facsimile: (918) 488-1530</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">E-mail: <FONT STYLE="color: black">empirepetroleum@aol.com</FONT></P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Attention: Albert E. Whitehead</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Entire Agreement</U>. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with
respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both
written and oral, with respect to such subject matter.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successor and Assigns</U>. Except as provided for in Section 1(b), neither this Agreement nor any of the rights of the
parties hereunder may otherwise be transferred or assigned by any Party hereto by operation of law or otherwise. Any attempted
transfer or assignment in violation of this <B>Section 4</B> shall be void.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Third-Party Beneficiaries</U>. This Agreement is for the sole benefit of the Parties hereto and their respective successors
and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person any legal or
equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Agreement.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Headings</U>. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment and Modification; Waiver</U>. This Agreement may only be amended, modified or supplemented by an agreement
in writing signed by each Party. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set
forth in writing and signed by the Party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or
delay in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or privilege.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">9.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U>. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or
render unenforceable such term or provision in any other jurisdiction.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">10.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U>. This Agreement shall be governed by and construed in accordance with the internal laws of the State
of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other
jurisdiction) that would cause the application of Laws of any jurisdiction other than those of the State of Delaware.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">11.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts</U>. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all
of which shall together be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail
or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy
of this Agreement.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">12.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Strict Construction</U>. The Parties have participated jointly in the negotiation and drafting of this Agreement.
In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly
by the Parties, and no presumption or burden of proof will arise favoring or disfavoring any Party by virtue of the authorship
of any of the provisions of this Agreement.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman, Times, Serif; margin: 0 22.95pt 0 0; text-align: justify; text-indent: 0.5in">IN WITNESS
WHEREOF, the parties hereto have executed this Call Option Agreement on the date first written above.</P>

<P STYLE="font: 12pt/15pt Times New Roman, Times, Serif; margin: 0 22.95pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman, Times, Serif; margin: 0 22.95pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27%; padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="width: 62%; padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">EMPIRE PETROLEUM CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt; padding-bottom: 1pt">By:</TD>
    <TD STYLE="vertical-align: top; padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt; border-bottom: Black 1pt solid">/s/ Albert E. Whitehead</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">Albert E. Whitehead</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">President and CEO</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt"><FONT STYLE="text-transform: uppercase">Sierra Nevada Oil LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt; padding-bottom: 1pt">By:</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt; border-bottom: Black 1pt solid">/s/ Patrick A. Fagen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">Patrick A. Fagen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">Manager</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 15pt">Solely for purposes of his obligations set forth in <B>Section 2(b)</B>.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt; border-bottom: Black 1pt solid">/s/ Albert E. Whitehead</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: right; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; text-align: justify; line-height: 15pt">Albert E. Whitehead</TD></TR>
</TABLE>
<P STYLE="font: 12pt/15pt Times New Roman, Times, Serif; margin: 0 22.95pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 22.95pt; padding-left: 5.4pt; line-height: 15pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="padding-right: 22.95pt; padding-left: 5.4pt; line-height: 15pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt/15pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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