<a href="https://laohu8.com/S/EMPR">Empire Petroleum</a> Secures Up to $4 Million Financing from Phil Mulacek to Fund Drilling Program and Working Capital
**Empire Petroleum Corporation Secures $4 Million Financing from Phil E. Mulacek** Empire Petroleum Corporation announced that it has entered into a new financing agreement with Phil E. Mulacek. Under the terms of the agreement, Empire issued a promissory note for up to $4 million to Mulacek on September 24, 2025. As of September 25, 2025, $2 million has already been advanced, with the remaining $2 million available for drawdown between March 23, 2026, and September 23, 2026, subject to certain conditions. The note carries an annual interest rate of 5.5%, maturing on September 23, 2027, and can be prepaid without penalty. In connection with the financing, Mulacek also received a warrant to purchase 281,030 shares of Empire Petroleum at $4.27 per share, exercisable over three years. The proceeds will support Empire's ongoing oil and gas drilling program and general working capital needs.
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