Texas-based Energy Evolution Master Fund, Ltd. just acquired 500,000 more shares in Tulsa’s Empire Petroleum Corp.
The acquisition at $5 per share was revealed in a filing with the Securities and Exchange Commission. The filing indicated Energy Evolution’s current ownership is 5,466,639 shares in Empire Petroleum.
It was the second largest acquisition of Empire Petroleum shares by Energy Evolution. A filing with the SEC made September 30, 2021 indicated a purchase of 5,200,000 funds at $1.25 per share. At the time, it left Energy Evolution with 15,250,208 shares in Empire.
However, a similar SEC filing in 2021 indicated Energy Evolution held 17,250,208 in voting power and held 23.15% of the shares in Empire.
Managed by E2 Investment Advisors LLC, Energy Evolution Fund describes itself as a series of hybrid-high-conviction funds that expect to provide substantial capital apprecition by investing in companies and technologies that will benefit from the transition of the global energy sector from fossil-based fuels to low-carbon solutions. SEC filings indicated the company was organized in the Cayman Islands.
The company says its team is focused on expected growth in the petroleum sector with a view to rotate capital into the alternative energy sector in the near-to medium-term.