| Commodity Price Volatility |
Energy-based pricing will fluctuate. |
| Production Risks |
Production levels will fluctuate. |
| Lack of Operational Control |
Operators are not obligated to drill or keep wells in production. |
| Revenue Delay |
Distributions may not begin until months after the close of the offering. |
| Illiquid Investment |
You may not be able to sell your investment. |
| Regulatory Changes |
Could impact current tax treatment of Royalties. |
| Loss of Investment |
May not recover original investment over life of reserves. |
| Reserve Depletion |
Assets will deplete - estimates could be off. |
| Loss of Production |
Natural disasters or shut-in wells could decrease or halt production temporarily or permanently. |
