Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Yost Kurt C
  2. Issuer Name and Ticker or Trading Symbol
MILLER ENERGY RESOURCES, INC. [MILL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP and General Counsel
(Last)
(First)
(Middle)
9721 COGDILL ROAD, SUITE 302
3. Date of Earliest Transaction (Month/Day/Year)
05/20/2012
(Street)

KNOXVILLE, TN 37932
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
OPTION $ 4.01 05/20/2012   A   6,945   05/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   06/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   07/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   08/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   09/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   10/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   11/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   12/20/2012 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   01/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   02/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   03/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   04/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   05/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   06/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   07/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   08/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   09/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   10/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   11/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   12/20/2013 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   01/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   02/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   03/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   04/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   05/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   06/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   07/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   08/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   09/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  
OPTION $ 4.01 05/20/2012   A V 6,945   10/20/2014 05/20/2022 COMMON STOCK 6,945 $ 0 6,945 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Yost Kurt C
9721 COGDILL ROAD
SUITE 302
KNOXVILLE, TN 37932
      SVP and General Counsel  

Signatures

 /s/ Kurt C. Yost   05/23/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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).
 
Remarks:
In connection with Mr. Yost's employment agreement, he was awarded an option to purchase 250,000 shares of our common stock, which vests in equal installments over the first thirty-six months of his employment with us.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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