Item 8.01 Other Events.

On December 24, 2012, NGS Technologies, Inc. ("NGS"), a wholly owned subsidiary of Evolution Petroleum Corporation (the "Company"), closed the sale of a portion of its exploration and production properties and assets in Brazos, Burleson, Fayette, Lee and Grimes Counties, Texas to ASM Oil and Gas Company, Inc. ("ASM"). The sold properties consisted of approximately 3,744 net acres of leasehold, which included 956 net acres of producing leasehold and current aggregate production of approximately 151 BOE per day for the quarter ended September 30, 2012.

As of the closing date, the adjusted purchase price paid for the properties was approximately $2.8 million, subject to further post-closing date adjustments. As part of the transaction, ASM has agreed to pay to NGS, subject to certain terms and conditions, a $100,000 fee for each well ASM drills or causes to be drilled or participates in that is located on any of the leases that are identified as "Non-Producing Leases."