JVL Advisors, L.L.C. Form 3 Epsilon Energy / JOHN LOVOI ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:	3235-0104
Estimated average burden
hours per response:	0.5

1. Name and Address of Reporting Person^*

LOVOI JOHN

(Last) (First) (Middle)

3505 W SAM HOUSTON PKWY NORTH

SUITE 400

(Street)

HOUSTON TX 77043

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/14/2019

3. Issuer Name and Ticker or Trading Symbol
Epsilon Energy Ltd. [ EPSN ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	5,498,419	I	See Footnote(1)
Common Shares	2,500	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (right to buy)	(2)	(2)	Common Shares	10,000	7.34	D
Restricted Stock Grant	(3)	(3)	Common Shares	5,000	(5)	D
Restricted Stock Grant	(4)	(4)	Common Shares	9,000	(5)	D

1. Name and Address of Reporting Person^*

LOVOI JOHN

(Last) (First) (Middle)

3505 W SAM HOUSTON PKWY NORTH

SUITE 400

(Street)

HOUSTON TX 77043

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

JVL Advisors, L.L.C.

(Last) (First) (Middle)

10,000 MEMORIAL DRIVE

SUITE 550

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

Explanation of Responses:

1. These shares are owned directly by JVL Advisors, L.L.C. ("JVL"). Mr. Lovoi, as the managing partner of JVL, exercises voting power and dispositive power with respect to the Common Shares held by JVL.

2. The options are fully vested and expire on June 5, 2022.

3. This Restricted Stock Grant will vest in equal parts on December 20, 2019 and December 20, 2020, as long as Mr. Lovoi is still a director of Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.

4. Vesting evenly at each anniversary of the grant date (December 31, 2018) over a three year period, as long as Mr. Lovoi is still a director of Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.

5. Upon vesting, the Restricted Stock Grants convert into Common Shares on a one-for-one basis.

	/s/ B. Lane Bond as attorney-in-fact	02/25/2019
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.