Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

As previously reported in a Form 8-K filed on January 22, 2018, on January 16, 2018, Empire Petroleum Corporation (the "Corporation") entered into a purchase and sale agreement (the "Purchase Agreement"), with Wagon Wheel ArklaTex, LLC and Green Wheel, LLC (collectively, "Seller"), pursuant to which, among other things, the Corporation agreed to acquire certain oil and gas properties from Seller in North Louisiana.  Pursuant to the Purchase Agreement, the closing date was to occur on February 5, 2018.

The Corporation requested an extension of the time within which to conduct title due diligence and close the transaction, but such request was not agreed to by Seller.  On February 7, 2018, a termination of purchase and sale agreement (the "Termaintion Agreement") was executed by Empire and Seller, pursuant to which, among other things, the Purchase Agreement was terminated effectives as of February 5, 2018.  The foregoing description of the Termination Agreement is only a summary, does not purport to be complete and is subject to, and is qualified in its entirety by reference to, the Termination Agreement, a copy of which is filed as Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by reference.

The Corporation intends to continue to cooperate with Seller with respect to the potential purchase the oil and gas properties described in the terminated Purchase Agreement as well as evaluate other acquisition opportunities.