<SEC-DOCUMENT>0001072613-14-000498.txt : 20141231
<SEC-HEADER>0001072613-14-000498.hdr.sgml : 20141231
<ACCEPTANCE-DATETIME>20141231164241
ACCESSION NUMBER:		0001072613-14-000498
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20141230
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20141231
DATE AS OF CHANGE:		20141231

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:		141318919

	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
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<FILENAME>form8k_17737.htm
<DESCRIPTION>FORM 8K DATED DECEMBER 30, 2014
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<div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">FORM 8-K</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-WEIGHT: normal"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-VARIANT: small-caps; DISPLAY: inline">Pursuant To Section 13 or 15 (</font><font style="FONT-FAMILY: Times New Roman; DISPLAY: inline">d</font><font style="FONT-VARIANT: small-caps; DISPLAY: inline">) of the Securities Exchange Act of 1934</font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-WEIGHT: normal"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">Item 2.01 Completion of Acquisition or Disposition of Assets.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-WEIGHT: normal"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Albert E. Whitehead Living Trust (the &#8220;Whitehead Trust&#8221;) has advanced funds to the Company from time to time in the past.&#160;&#160;As of December 30, 2014, the total outstanding indebtedness owed by the Company to the Whitehead Trust was $196,451.&#160;&#160;Albert E. Whitehead, the Chief Executive Officer of the Company and Chairman of its Board, is the trustee of the Whitehead Trust.&#160;&#160;Effective as of December 30, 2014, the Company exchanged its leasehold interest in its Gabbs Valley Prospect to Mr. Whitehead in exchange for the debt owed to the Whitehead Trust.&#160;&#160;At the time of such exchange, the Company&#8217;s interest in the Gabbs Valley Prospect was valued on its books at approximately $191,715.&#160;&#160;The Company did not have the funds to pay rentals on such properties as they came due in 2015 and intended to let them expire.&#160;&#160;The exchange was approved by the disinterested directors, Messrs. Hackett and Seth.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-WEIGHT: normal"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On December 30, 2014, each of Albert E. Whitehead, the Company&#8217;s Chief Executive Officer and the Chairman of the Board, and Montague H. Hackett, Jr., a member of the Company&#8217;s Board of Directors, transferred and assigned all of the common stock owned by them to Empire Petroleum Holdings, LLC, an Oklahoma limited liability company (&#8220;Empire Holdings&#8221;).&#160;&#160;In connection with such transaction, each of Montague H. Hackett, Jr. and Kevin R. Seth will resign from the Board of Directors effective as of January 16, 2015 and Albert E. Whitehead, has agreed to appoint two designees of Empire Holdings to fill such vacancies effective as of January 19, 2015.&#160;&#160;Empire Holdings has designated J. C. Whorton, Jr., and Michael R. Morrisett to be appointed to the Board.&#160;&#160;&#160;&#160;Albert E. Whitehead intends to resign from the Company&#8217;s Board of Directors effective as of January 20, 2015.&#160;&#160;Messrs. Whorton and Morrisett each own 45% of the equity interest of and are managers of Empire Holdings.</font></font></div>

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<td colspan="2" valign="top" width="38%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">EMPIRE PETROLEUM CORPORATION</font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Date:&#160;&#160;&#160;&#160;&#160;&#160; December 31, 2014</font></div>
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<td align="left" nowrap valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">/s/&#160;Albert E. Whitehead</font></td>
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