Evolution Petroleum Corp. Announces New Management Hire

HOUSTON--(BUSINESS WIRE)--Evolution Petroleum Corporation (AMEX: EPM) announced today that Edward Schell joined the Company on October 5, 2006 as General Manager for Drilling and Unconventional Development. Mr. Schell comes to Evolution Petroleum with over 24 years of experience in the oil and gas industry through his employment at Anadarko Petroleum and its predecessor, Union Pacific Resources. In his career Mr. Schell has held various management positions in drilling, operations and business development with particular focus in horizontal drilling and tight gas reservoirs. In 2005, he received Anadarko‘s Innovator Award. Educated as a petroleum engineer at the University of Texas, Mr. Schell has published numerous articles and presentations drawing upon his extensive field experience.

“We are extremely pleased to have a person of Mr. Schell’s caliber join out management team. Eddie’s extensive horizontal drilling, tight gas development and operations experience will be instrumental to the successful execution of Evolution’s strategic initiatives in oil and gas field redevelopment.”

Robert S. Herlin, President and CEO of Evolution Petroleum commented, “We are extremely pleased to have a person of Mr. Schell’s caliber join out management team. Eddie’s extensive horizontal drilling, tight gas development and operations experience will be instrumental to the successful execution of Evolution’s strategic initiatives in oil and gas field redevelopment.”

About Evolution Petroleum

Evolution Petroleum Corporation (http://www.evolutionpetroleum.com) acquires mature oil and gas resources and applies conventional and specialized technology to accelerate production and develop incremental reserves and value. The Company currently owns 7.4% in overriding royalty interests and a 25% reversionary working interest in the 13,636 acre Delhi Field Holt Bryant Unit, a 25% working interest in certain other depths in the Delhi Field and 100% working interests in smaller fields, all located onshore in Louisiana. Having already produced 190 million barrels of oil through primary and secondary recovery methods, the Delhi Holt Bryant Unit is scheduled for redevelopment using CO2 enhanced oil recovery technology. The Company is actively engaged in other development projects.