EMPIRE PETROLEUM’S INSIDER BUYING STIRS Confidence Amid Steep Share Slump

Insider Buying at Empire Petroleum: What It Means for Shareholders

A recent director‑dealing filing shows that Matschke Mason H. purchased 7,777 shares of Empire Petroleum Corp. (EMPIRE) on 29 May 2026, paying $2.54 per share—just below the market close of $2.74. The transaction, while modest in dollar terms, is part of a consistent pattern of incremental buying by the owner over the past 18 months. Since early 2025, Mason has added roughly 20,000 shares, steadily increasing his stake from 382,904 shares to 426,525 after the latest purchase. The absence of any large sales suggests a long‑term conviction rather than a short‑term speculation.

Investor Takeaway: Confidence Amid Volatility

Empire’s share price has slumped nearly 50 % year‑to‑date, with a steep weekly decline of 3.66 % and a 52‑week low of $2.41. In this environment, insider buying can act as a beacon of confidence. Mason’s incremental purchases indicate that he believes the company’s low‑cost, mature assets will continue to deliver stable cash flow even as oil and gas prices cycle. For investors, the move may signal that the company’s fundamentals—low operating costs and a diversified geographic portfolio—are still attractive, especially if the market remains undervalued.

Broader Insider Activity: A Sign of Strength?

The broader insider landscape at Empire is dominated by Phil E. Mulacek, who has made several large purchases and exercised subscription rights in the past year. Mulacek’s buying spree, coupled with Mason’s steady accumulation, points to a coordinated effort among senior management to reinforce their positions. While such activity can be interpreted as a positive endorsement of future prospects, it also raises the question of whether these insiders are fully aligned with long‑term shareholders, given the company’s negative P/E of –1.23 and the significant decline in market cap over the past year.

Matschke Mason H.: The Profile of a Long‑Term Investor

Mason has been a passive yet persistent buyer. His earliest recorded purchase in the dataset is 10,000 shares on 15 April 2025, and he has repeatedly increased his holding by similar amounts—5,402 shares in March 2026, 7,777 shares in May 2026, and a modest 10,000 share purchase in April 2025. Unlike some insiders who execute large block trades, Mason’s strategy is incremental, suggesting a belief in the company’s long‑term trajectory rather than a desire to profit from short‑term swings. This style can be appealing to investors who prefer a gradual, risk‑averse approach to building a position in a volatile sector.

Future Outlook: Caution and Opportunity

Given Empire’s exposure to commodity cycles and its negative earnings multiple, investors should weigh the insider buying as a potential signal of confidence but also remain cautious. The company’s core assets—mature wells in the Permian and Bakken—offer low‑cost production, yet the broader macro environment and regulatory uncertainties could still pressure cash flows. For those looking to add EMPIRE to their portfolio, Mason’s incremental buying may serve as a “green light” for a long‑term, patient investment strategy, especially if the share price continues to trade at a significant discount to peer valuations.