What changed in this filing

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Item 1. Legal Proceedings

2021-11-15 compared with 2021-08-16 · 45 added, 21 removed, 20 unchanged (77% of the section changed)

1 unchanged sentence

On October 1, 2018, a lawsuit styled Thaleia L.

Marston, Trustee of the Marston Trust v.

Marston, Trustee

of the Marston Trust v.

Blackbeard Operating, LLC , et.al, No.

18-10-24761 CVW in the 143rd District Court in Ward County, Texas (the 2018 Litigation) was filed, naming, among others, Boaz Energy and the Trust as defendants.

The plaintiff is a lessor under two leases operated by Blackbeard Operating LLC.

The Underlying Properties include the interests of Boaz Energy in some of the minerals covered by those leases.

The litigation seeks surface use damages and alleges violations of the terms of the leases, among other things.

While it is not yet possible to estimate any potential loss or range of loss, Boaz Energy has advised the Trustee that it does not anticipate the litigation will materially affect the Trust.

18-10-24761 –

CVW in the 143rd District Court in Ward County,

Texas (the “2018 Litigation”) was filed, naming, among others, Boaz Energy and the Trust as defendants.

The plaintiff is a

lessor under two leases operated by Blackbeard Operating LLC.

The Underlying Properties include the interests of Boaz Energy in some of

the minerals covered by those leases.

The litigation seeks surface use damages and alleges violations of the terms of the leases, among

other things.

While it is not yet possible to estimate any potential loss or range of loss, Boaz Energy has advised the Trustee that it

does not anticipate the litigation will materially affect the Trust.

On January 3, 2020, Lawrence M.

Marston joined the lawsuit as a plaintiff alleging surface damage claims against Blackbeard and Goodnight Midstream Permian, L.L.C., but not against the Trust.

On January 17, 2020, the Trust and the other defendants filed a motion for summary judgment, which would dispose of the claims against the Trust if granted.

Marston joined the lawsuit as a plaintiff

alleging surface damage claims against Blackbeard and Goodnight Midstream Permian, L.L.C., but not against the Trust.

On January 17, 2020,

the Trust and the other defendants filed a motion for summary judgment, which would dispose of the claims against the Trust if granted.

After delays related to COVID-19, a hearing on the summary judgment motions filed by the Defendants and Goodnight was held on August 27,

As of March 31, 2021, the court had not yet ruled on the motion for summary judgment.

A mediation was conducted on November 10, 2020, but no settlement was reached.

A mediation was conducted on November 10,

2020, but no settlement was reached.

The discovery period closed in January 2021.

Counsel for the defendants reported that during discovery, plaintiffs appeared to concede several points related to their claim against the Trust in responses to request for disclosure and a deposition of the Marston Trusts manager, including that the Trust and the other defendants are entitled to retain 40-acres around each producing well as defendants have contended all along.

However, plaintiffs have not formally amended their pleading or otherwise non-suited any claim against the Trust.

Consequently, the Trust and the other defendants filed a second summary judgment motion pointing out, in part, that plaintiffs appear to have conceded portions of their claim against the Trust and the other defendants regarding the trespass to try title claim.

That motion was set for hearing on April 1, 2021, but at that hearing, the court granted the plaintiffs counsels motion to withdraw from representing the plaintiffs and vacated the May 3, 2021 trial setting to allow plaintiffs an opportunity to retain new counsel.

Counsel for the defendants reported that during discovery,

plaintiffs appeared to concede several points related to their claim against the Trust in responses to request for disclosure and a deposition

of the Marston Trust’s manager, including that the Trust and the other defendants are entitled to retain 40-acres around each producing

well as defendants have contended all along.

However, plaintiffs have not formally amended their pleading or otherwise non-suited any

claim against the Trust.

Consequently, the Trust and the other defendants filed a second summary judgment motion pointing out, in part,

that plaintiffs appear to have conceded portions of their claim against the Trust and the other defendants regarding the trespass to try

That motion was set for hearing on April 1, 2021, but at that hearing, the court granted the plaintiffs’

counsel’s

motion to withdraw from representing the plaintiffs and vacated the May 3, 2021 trial setting to allow plaintiffs an opportunity to retain

The court did not re-open the expired discovery and pleading deadlines.

All other motions were carried forward.

Replacement counsel have since appeared for the plaintiffs, and the court has set a hearing for October 1, 2021 to cover all pending motions.

Also on the docket currently are a November 1, 2021 pre-trial hearing and the trial set for November 8, 2021.

counsel have since appeared for the plaintiffs, and the court conducted a hearing on October 1, 2021 to cover all pending motions.

court indicated a letter ruling on all pending motions would be circulated but that has not yet occurred.

On the docket currently are

a December 3, 2021 pre-trial hearing and the trial now set for the week beginning December 13, 2021.

Certificate of Trust of PermRock Royalty Trust (incorporated by reference to Exhibit 3.3 to Registration Statement on Form S-1 (SEC File No.

4 unchanged sentences

Section 906 Certification.

The exhibits marked with the asterisk symbol (*) are filed or furnished with this Quarterly Report on Form 10-Q.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

The exhibits marked with the asterisk symbol (*) are filed or furnished

with this Quarterly Report on Form 10-Q.

Pursuant to the requirements of the Securities Exchange Act of 1934,

the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

PERMROCK ROYALTY TRUST

3 unchanged sentences

Senior Vice President

August 16, 2021

The registrant, PermRock Royalty Trust, has no principal executive officer, principal financial officer, board of directors or persons performing similar functions.

Accordingly, no additional signatures are available, and none have been provided.

In signing the report above, the Trustee does not imply that it has performed any such function or that any such function exists pursuant to the terms of the Trust Agreement under which it serves.

November 15, 2021

The registrant, PermRock Royalty Trust, has no principal executive

officer, principal financial officer, board of directors or persons performing similar functions.

Accordingly, no additional signatures

are available, and none have been provided.

In signing the report above, the Trustee does not imply that it has performed any such function

or that any such function exists pursuant to the terms of the Trust Agreement under which it serves.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Legal Proceedings