Item 4. Controls and Procedures
ITEM 4. Controls and Procedures
The Trustee conducted an evaluation of the effectiveness of the
Trust’s disclosure controls and procedures pursuant to Exchange Act Rules 13a-15(a) and 15d-15(a) as of the end of the period covered
by this Quarterly Report. Based on this evaluation, the Trustee has concluded that the disclosure controls and procedures of the Trust
are effective as of September 30, 2023, that the information required to be disclosed by the Trust in its reports filed or submitted under
the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC,
and such information is accumulated and communicated, as appropriate to allow timely decisions regarding required disclosure. In its evaluation
of disclosure controls and procedures, the Trustee has relied, to the extent considered reasonable, on information provided by Boaz Energy.
Due to the nature of the Trust as a passive entity and in light
of the contractual arrangements pursuant to which the Trust was created, including the provisions of the Trust Agreement and the Conveyance,
the Trustee’s disclosure controls and procedures related to the Trust necessarily rely on (A) information provided by Boaz Energy,
including information relating to results of operations, the costs and revenues attributable to the Trust’s interests under the
Conveyance and other operating and historical data, plans for future operating and capital expenditures, reserve information, information
relating to projected production, and other information relating to the status and results of operations of the Underlying Properties,
and (B) conclusions and reports regarding reserves by the Trust’s independent reserve engineers.
During the quarter ended September 30, 2023, there were no changes
in the Trust’s internal control over financial reporting that have materially affected, or are reasonably likely to materially affect,
the Trustee’s internal control over financial reporting. The Trustee notes for purposes of clarification that it has no authority
over, has not evaluated and makes no statement concerning, the internal control over financial reporting of Boaz Energy.
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PART II. OTHER
INFORMATION
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