Item 4. Controls and Procedures
Item 4. Controls and Procedures.
Evaluation of Disclosure Controls and
Procedures
The Trustee conducted
an evaluation of the Trust’s disclosure controls and procedures (as defined in Rules 13a-15 and 15d-15 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)). Based on this evaluation, the Trustee has concluded that the
disclosure controls and procedures of the Trust were effective, as of the end of the period covered by this report, in ensuring
that information required to be disclosed by the Trust in the reports that it files or submits under the Exchange Act is accumulated
and communicated to the Trustee to allow timely decisions regarding required disclosure.
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 (i) the Trust Agreement and (ii) the Conveyance, the Trustee’s disclosure controls and procedures
related to the Trust necessarily rely on (A) information provided by the Sponsor, including information relating to results
of operations, the costs and revenues attributable to the Trust’s interest 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 the Net Profits Interest, and
(B) conclusions and reports regarding reserves by the Trust’s independent reserve engineers.
Changes in Internal Control over Financial
Reporting
As of the end of the
period covered by this report, 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 Trust’s internal control over financial reporting. The Trustee
notes for purposes of clarification that it has no authority over, and makes no statement concerning, the internal control over
financial reporting of the Sponsor.
18
PART
II—OTHER INFORMATION
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.