<SEC-DOCUMENT>0000887396-14-000004.txt : 20140627
<SEC-HEADER>0000887396-14-000004.hdr.sgml : 20140627
<ACCEPTANCE-DATETIME>20140627140746
ACCESSION NUMBER:		0000887396-14-000004
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140627
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140627
DATE AS OF CHANGE:		20140627

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:		14945402

	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>form8k-06272014.htm
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<!-- 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">June
27, 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 June 24, 2014, Empire Petroleum Corporation
(the &ldquo;Company&rdquo;) and Sierra Nevada Oil LLC (&ldquo;Sierra&rdquo;) executed a letter agreement (the &ldquo;Letter Agreement&rdquo;)
amending that certain Call Option Agreement dated as of March 4, 2014 (the &ldquo;Call Option Agreement&rdquo;), by and between
the Company and Sierra. The Letter Agreement extends the date by which Sierra may exercise the call option granted to it under
the Call Option Agreement to September 1, 2014.</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>

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    <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">Letter Agreement dated June 27, 2014, by and between Empire Petroleum Corporation 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: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">EMPIRE PETROLEUM CORPORATION</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;Date: June 27, 2014</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 320pt">By: <U>/s/ Albert E. Whitehead&#9;&#9; </U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 340pt">Albert E. Whitehead</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 340pt">Chief Executive Officer</P>



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

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1.htm
<DESCRIPTION>JUNE 27, 2014
<TEXT>
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<P STYLE="font: 11pt/9pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">EXHIBIT 10.1</P>

<P STYLE="font: 11pt/9pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/9pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3.65pt 357.4pt 0 5.9pt; color: #18181A">June<FONT STYLE="letter-spacing: -0.2pt">
</FONT>27,<FONT STYLE="letter-spacing: -0.35pt"> </FONT>2014</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0.15pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/116% Times New Roman, Times, Serif; margin: 0 357.4pt 0 5.65pt; text-indent: 0.7pt; color: #18181A">Sierra<FONT STYLE="letter-spacing: -1.15pt">
</FONT>Nevada<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Oil<FONT STYLE="letter-spacing: -0.6pt"> </FONT>LLC P.<FONT STYLE="letter-spacing: 0.85pt">
</FONT>0.<FONT STYLE="letter-spacing: -0.7pt"> </FONT>Box<FONT STYLE="letter-spacing: 1.5pt"> </FONT>16187</P>

<P STYLE="font: 11pt/120% Times New Roman, Times, Serif; margin: 0.3pt 304.5pt 0 5.65pt; text-indent: 0.7pt"><FONT STYLE="color: #18181A">South<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Lake<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Tahoe,<FONT STYLE="letter-spacing: -0.3pt"> </FONT>CA<FONT STYLE="letter-spacing: -0.55pt">
</FONT>96151 E-mail:<FONT STYLE="letter-spacing: -1.6pt"> </FONT></FONT><FONT STYLE="color: #2A5E99">pafagen<FONT STYLE="letter-spacing: -2.25pt">
</FONT></FONT><FONT STYLE="color: #49749C; letter-spacing: -0.1pt">@</FONT><FONT STYLE="color: #2A5E99; letter-spacing: -0.1pt">yahoo</FONT><FONT STYLE="color: #2A5E99; letter-spacing: -2.4pt">
</FONT><FONT STYLE="color: #2B4D6E; letter-spacing: -0.25pt">.</FONT><FONT STYLE="color: #2A5E99; letter-spacing: -0.3pt">com</FONT></P>

<P STYLE="font: 11pt/120% Times New Roman, Times, Serif; margin: 0.3pt 304.5pt 0 5.65pt; text-indent: 0.7pt; color: #18181A">Attention:<FONT STYLE="letter-spacing: -0.25pt">
</FONT>Patrick<FONT STYLE="letter-spacing: -0.3pt"> </FONT>A.<FONT STYLE="letter-spacing: -0.9pt"> </FONT>Fagen</P>

<P STYLE="font: 11pt/9.5pt Times New Roman, Times, Serif; margin: 0.1pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41.6pt"></TD><TD STYLE="width: 35.8pt"><FONT STYLE="color: #18181A">Re:</FONT></TD><TD STYLE="text-align: justify; padding-right: 19.95pt"><FONT STYLE="color: #18181A">That<FONT STYLE="letter-spacing: 0.95pt">
</FONT>certain<FONT STYLE="letter-spacing: 1pt"> </FONT>Call<FONT STYLE="letter-spacing: 1.05pt"> </FONT>Option<FONT STYLE="letter-spacing: 0.55pt">
</FONT>Agreement<FONT STYLE="letter-spacing: 1.65pt"> </FONT>(the<FONT STYLE="letter-spacing: 0.65pt"> </FONT></FONT><FONT STYLE="color: #2D2D2D"><B>&quot;Option<FONT STYLE="letter-spacing: 0.55pt">
</FONT></B></FONT><B><FONT STYLE="color: #18181A">Agreement&quot;)<FONT STYLE="letter-spacing: 1.75pt"> </FONT></FONT></B><FONT STYLE="color: #18181A">dated<FONT STYLE="letter-spacing: 1pt">
</FONT>as<FONT STYLE="letter-spacing: 0.4pt"> </FONT>of<FONT STYLE="letter-spacing: 0.5pt"> </FONT>March<FONT STYLE="letter-spacing: 1pt">
</FONT>4, 2014,<FONT STYLE="letter-spacing: 0.8pt"> </FONT>by<FONT STYLE="letter-spacing: 1.15pt"> </FONT>and<FONT STYLE="letter-spacing: 0.7pt">
</FONT>among<FONT STYLE="letter-spacing: 0.8pt"> </FONT>Empire<FONT STYLE="letter-spacing: 1pt"> </FONT>Petroleum<FONT STYLE="letter-spacing: 1.8pt">
</FONT>Corporation,<FONT STYLE="letter-spacing: 1.3pt"> </FONT>Albert<FONT STYLE="letter-spacing: 1.25pt"> </FONT>E.<FONT STYLE="letter-spacing: 0.5pt">
</FONT>Whitehead and Sierra Nevada Oil LLC</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/12.05pt Times New Roman, Times, Serif; margin: 0 357.4pt 0 5.9pt; color: #18181A">Gentlemen:</P>

<P STYLE="font: 11pt/6pt Times New Roman, Times, Serif; margin: 0.5pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/120% Times New Roman, Times, Serif; margin: 0 6.25pt 0 5.4pt; text-indent: 36.2pt"><FONT STYLE="color: #18181A">I<FONT STYLE="letter-spacing: 0.3pt">
</FONT>am<FONT STYLE="letter-spacing: 0.35pt"> </FONT>writing<FONT STYLE="letter-spacing: 1.1pt"> </FONT>with<FONT STYLE="letter-spacing: 0.95pt">
</FONT>respect<FONT STYLE="letter-spacing: 1.4pt"> </FONT>to<FONT STYLE="letter-spacing: 0.25pt"> </FONT>the<FONT STYLE="letter-spacing: 0.75pt">
</FONT>Option<FONT STYLE="letter-spacing: 1.25pt"> </FONT></FONT><FONT STYLE="color: #2D2D2D">Agreement. <FONT STYLE="letter-spacing: 2.3pt">
</FONT></FONT><FONT STYLE="color: #18181A">Capitalized<FONT STYLE="letter-spacing: 1.7pt"> </FONT>but<FONT STYLE="letter-spacing: 1.05pt">
</FONT>undefined<FONT STYLE="letter-spacing: 1.85pt"> </FONT>terms<FONT STYLE="letter-spacing: 0.9pt"> </FONT>used<FONT STYLE="letter-spacing: 1pt">
</FONT>herein shall<FONT STYLE="letter-spacing: 1.2pt"> </FONT>have the same meanings attributable<FONT STYLE="letter-spacing: 0.75pt">
</FONT>to<FONT STYLE="letter-spacing: 0.9pt"> </FONT>such<FONT STYLE="letter-spacing: 0.25pt"> </FONT>terms in the Option Agreement.
The Parties have agreed<FONT STYLE="letter-spacing: 1.2pt"> </FONT>to amend the Option<FONT STYLE="letter-spacing: 0.95pt"> </FONT>Agreement
as follows: (1) the Call End<FONT STYLE="letter-spacing: 1.05pt"> </FONT>Date<FONT STYLE="letter-spacing: 1pt"> </FONT>shall be
extended to<FONT STYLE="letter-spacing: 1.05pt"> </FONT>September 1, 2014<FONT STYLE="letter-spacing: 1.1pt"> </FONT>and<FONT STYLE="letter-spacing: 1pt">
</FONT>(2) Section 2(a) is hereby amended and<FONT STYLE="letter-spacing: 0.75pt"> </FONT>restated<FONT STYLE="letter-spacing: 1.2pt">
</FONT>to read </FONT><FONT STYLE="color: #2D2D2D">&quot;The </FONT><FONT STYLE="color: #18181A">Parties acknowledge and<FONT STYLE="letter-spacing: 0.95pt">
</FONT>agree that <B>(i) </B>the<FONT STYLE="letter-spacing: 0.9pt"> </FONT>Company currently owes AEW,<FONT STYLE="letter-spacing: 1.4pt">
</FONT>its President, CEO<FONT STYLE="letter-spacing: 0.75pt"> </FONT>and largest<FONT STYLE="letter-spacing: 1.7pt"> </FONT>stockholder,
$153,000 in outstanding indebtedness and (ii) the<FONT STYLE="letter-spacing: 0.9pt"> </FONT>Company shall<FONT STYLE="letter-spacing: 1.2pt">
</FONT>use proceeds<FONT STYLE="letter-spacing: 1.7pt"> </FONT>from the<FONT STYLE="letter-spacing: 1.1pt"> </FONT>Call Purchase
Price to pay such indebtedness in<FONT STYLE="letter-spacing: 0.75pt"> </FONT>full<FONT STYLE="letter-spacing: 0.75pt"> </FONT>at
closing<FONT STYLE="letter-spacing: 0.9pt"> </FONT>of deal.</FONT></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/119% Times New Roman, Times, Serif; margin: 0 6.25pt 0 5.65pt; text-indent: 35.95pt"><FONT STYLE="color: #18181A">Except<FONT STYLE="letter-spacing: 1pt">
</FONT>to<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.9pt"> </FONT>extent<FONT STYLE="letter-spacing: 1.4pt">
</FONT>specifically<FONT STYLE="letter-spacing: 0.9pt"> </FONT>modified<FONT STYLE="letter-spacing: 2.25pt"> </FONT>hereunder<FONT STYLE="letter-spacing: -1.05pt">
</FONT></FONT><FONT STYLE="color: #444449">, </FONT><FONT STYLE="color: #18181A">the<FONT STYLE="letter-spacing: 1.25pt"> </FONT>Option<FONT STYLE="letter-spacing: 1.05pt">
</FONT></FONT><FONT STYLE="color: #2D2D2D">Agreement<FONT STYLE="letter-spacing: 1.65pt"> </FONT></FONT><FONT STYLE="color: #18181A">remains<FONT STYLE="letter-spacing: 1.75pt">
</FONT>in<FONT STYLE="letter-spacing: 0.55pt"> </FONT>full<FONT STYLE="letter-spacing: 0.85pt"> </FONT>force and<FONT STYLE="letter-spacing: 1.85pt">
</FONT></FONT><FONT STYLE="color: #2D2D2D; letter-spacing: 0.05pt">effect</FONT><FONT STYLE="color: #444449; letter-spacing: 0.05pt">.</FONT><FONT STYLE="color: #444449">
<FONT STYLE="letter-spacing: 0.1pt"> </FONT></FONT><FONT STYLE="color: #18181A; letter-spacing: 0.05pt">If this</FONT><FONT STYLE="color: #18181A; letter-spacing: 1.75pt">
</FONT><FONT STYLE="color: #18181A">letter correctly sets forth our<FONT STYLE="letter-spacing: 0.9pt"> </FONT>agreement<FONT STYLE="letter-spacing: 1.85pt">
</FONT>as to the<FONT STYLE="letter-spacing: 0.85pt"> </FONT>matters </FONT><FONT STYLE="color: #2D2D2D">set </FONT><FONT STYLE="color: #18181A">forth<FONT STYLE="letter-spacing: 0.9pt">
</FONT>herein, please promptly execute<FONT STYLE="letter-spacing: 1pt"> </FONT>and return this<FONT STYLE="letter-spacing: 1.25pt">
</FONT>letter to me.</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0.5pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 26.55pt; text-align: center; color: #18181A">Best<FONT STYLE="letter-spacing: -1.25pt">
</FONT>regards,</P>

<P STYLE="font: 11pt/7pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 221.1pt; color: #18181A">Empire<FONT STYLE="letter-spacing: -1pt">
</FONT>Petroleum<FONT STYLE="letter-spacing: -0.75pt"> </FONT>Corporation</P>

<P STYLE="font: 11pt/6.5pt Times New Roman, Times, Serif; margin: 0.25pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 5.9pt; text-indent: -0.25pt; color: #18181A">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 3.65pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.95pt"></TD><TD STYLE="width: 16.6pt"></TD><TD STYLE="padding-right: 72.5pt; text-align: right; vertical-align: bottom"><FONT STYLE="color: #18181A; letter-spacing: -0.1pt">By: <U>// Albe</U></FONT><U><FONT STYLE="color: #18181A">rt<FONT STYLE="letter-spacing: -0.9pt">
</FONT></FONT><FONT STYLE="color: #2D2D2D">E.<FONT STYLE="letter-spacing: -1.25pt"> </FONT></FONT><FONT STYLE="color: #18181A">Whitehead</FONT></U></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3.65pt 72.5pt 0 19.55pt; text-indent: 300pt">&#9;&#9;&#9;Albert E.
Whitehead</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 5.65pt; color: #18181A; text-indent: 320pt">&#9;President<FONT STYLE="letter-spacing: 1.95pt">
</FONT>and<FONT STYLE="letter-spacing: 1.25pt"> </FONT>CEO</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: #18181A">&nbsp;</P>

<P STYLE="font: 11pt/10.3pt Times New Roman, Times, Serif; margin: 0; color: #18181A">&nbsp;</P>

<P STYLE="font: 11pt/10.3pt Times New Roman, Times, Serif; margin: 0; color: #18181A">Agreed and accepted this 27<SUP>th</SUP>
day of June, 2014</P>

<P STYLE="font: 11pt/10.3pt Times New Roman, Times, Serif; margin: 0; color: #18181A">&nbsp;</P>

<P STYLE="font: 11pt/10.3pt Times New Roman, Times, Serif; margin: 0; color: #18181A">Sierra Nevada Oil LLC</P>

<P STYLE="font: 11pt/10.3pt Times New Roman, Times, Serif; margin: 0; color: #18181A">&nbsp;</P>

<P STYLE="font: 11pt/10.3pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/10pt Sans-Serif; margin: 0; color: Red"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.85pt 0 0">By: <U>// Patrick A. Fagen</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 21.95pt"><FONT STYLE="color: #18181A">Patrick<FONT STYLE="letter-spacing: -0.45pt">
</FONT>A.<FONT STYLE="letter-spacing: -0.9pt"> </FONT></FONT><FONT STYLE="color: #2D2D2D">Fagen</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 21.95pt; color: #18181A">Manager</P>



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

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