Evolution Petroleum Corporation reported fiscal fourth-quarter 2026 net income of $4.6 million, or $0.13 per diluted share, compared with $3.4 million a year earlier and a $8.9 million net loss in fiscal Q3. Adjusted loss was $0.02 per share, missing the $0.01 consensus estimate, while revenue rose 15% year over year to $24.21 million and exceeded expectations. Revenue also increased 20% sequentially, and Adjusted EBITDA, a non-GAAP measure of operating earnings before financing, taxes and non-cash charges, more than doubled from $3.1 million to $6.5 million. Production averaged 6,901 BOEPD (barrels of oil equivalent per day), up 3% from fiscal Q3 but down 4% year over year. Average realized equivalent prices rose 20% year over year to $38.55 per BOE, led by a 49% increase in crude-oil prices. Evolution completed its approximately $16 million acquisition of Permian Basin mineral and royalty interests on August 20, 2026, adding approximately 3,420 net royalty acres and exposure to 832 producing wells, 7 completed wells, 34 drilled but uncompleted wells, 27 permitted wells and approximately 1,257 upside locations. The company funded the acquisition with $12.8 million from a public offering of 4.3 million common shares and $3.2 million of credit-facility borrowings. Fiscal 2026 production averaged 7,077 BOEPD, compared with 7,074 BOEPD in fiscal 2025, while proved reserves increased to 27.2 MMBOE from 27.1 MMBOE and replaced more than 100% of annual production. Evolution declared its 17th consecutive $0.12 quarterly dividend, payable September 30, 2026, marking its 52nd consecutive quarterly payment. Management said fiscal 2027 would benefit from the Permian Minerals acquisition, recently added Louisiana minerals and royalty positions, and activity across its non-operated and royalty portfolio, while cautioning that forward-looking statements remain subject to risks and uncertainties.