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PREPARED FOR:MORRISON CARTER &EAGLE’S VIEW HOLDINGSTAX WRITE OFFTAX WRITE OFFAND LITIGATION SUPPORTAND LITIGATION SUPPORTMEMORANDUMMEMORANDUMPrepared by John Kane, Esq.Kane Russell Coleman Logan PCNovember 3, 2023

WHITE ELK RESOURCES LOANA. WHITE ELK RESOURCES LLC LOANOn March 24, 2021, Eagle’s View Holdings LLC made a $450,000 loan to WhiteElk Resources LLC to facilitate the purported acquisition by White Elk of certaincompanies worth approximately $5.5 million. Discovery in the NorvellBankruptcy Case indicated that Norvell and his occasional business partner andco-member in White Elk, David J. Lewis, used White Elk, like Grace Energy andAbTex before, as a vehicle through which to defraud investors.The Chapter 7 Trustee learned through discovery in bankruptcy litigation in theNorvell Bankruptcy Case that, as of October 2022, White Elk had no assetswhatsoever and could not pay any judgment even if one was rendered against it.In a negotiated agreement, White Elk stipulated that it would abandon anyinterests it has in any assets to the Norvell bankruptcy estate for administrationby the Chapter 7 Trustee, Mark Weisbart. White Elk’s asset abandonment is akinto a quitclaim assignment of all of its assets to the bankruptcy estate. Since ithad no assets, the bankruptcy estate received nothing. It also ensures that nopotential litigant could recover against White Elk, as all of its assets belong tothe bankruptcy estate.As a result, Eagle’s View’s $450,000 loan is a total loss, and should be writtenoff in its entirety. SACRAMENTO VALLEY RESOURCES AND NUECES CAPITALA. A.NUECES CAPITAL, LLC A.K.A NUECES CAPITAL LTDNueces Capital, LLC, also known as Nueces Capital LTD, appears to have alsobeen a vehicle for various oil and gas schemes.Like AbTex and Grace Resources,Nueces Capital did, at times, actually acquire various mineral interests, whichthey later assigned or otherwise sold. Our research indicates that certainrepresentatives of Nueces Capital were later also affiliated with SacramentoValley Resources, LLC (“SVR”). Our research, corroborated by Payne’sOklahoma mineral record research, also indicates that Nueces Capital engagedin mineral interest sales or transfers with Grace Energy, which then transferredmany of those same interests to AbTex during or immediately preceding GraceEnergy’s bankruptcy. While it is unclear to our firm exactly what relationship members of NuecesCapital had with Norvell and his other business partners, it does appear thatsome of the same Oklahoma oil and gas redevelopment opportunities were usedby each entity to denude investors. Nueces Capital has been sued for fraud onmultiple occasions, as has SVR and its members. One Mission. Your Mission.

B. A.SACRAMENTO VALLEY RESOURCES, LLC$150,000 – April 8, 2021 – Eagle View Holdings LLCPromissory Note made by SAV for the benefit of Eagle View, securedby a 15% interest in SAV’s mineral interests in Wyoming’s Epsy Unitand Hatfield Dome field acquired by SAV from PDS Resources LLC onJanuary 1, 2021Due in full Nov. 1, 2021Guaranty issued by:Rick LockhartJustin BrownDustin Endsley$65,000 – September 23, 2021 – Morrison CarterFinance Agreement between SAV and Morrison Carter evidencing aloan by Mr. Carter to SAV in the amount of $65,000, plus a promise bySAV to deliver to Mr. Carter as 1.25% WI in the MOI Squaw Gap 22-9Hwell.Due in full Jan. 15, 2022Guaranty issued by:SAVSAV successor if SAV sells or assigns interests without priorwritten consent of Mr. Carter [this provision is almost certainlyunenforceable and, as a result, this Finance Agreement is not aguaranteed agreement].Mr. Carter and Eagle View Holdings LLC both made loans, evidenced bypromissory notes, to Sacramento Valley Resources LLC in 2021:Mr. Carter informed our firm that SAV defaulted on each of the aforementionedinvestments, and as that we inquire regarding the defaults. Unfortunately, at oraround that time, SAV abandoned its business offices in downtown Dallas andappear to have gone to ground. Thereafter, we attempted to locate SAV’sprincipals, including Rick Lockhart, and Justin Brown, neither of whomresponded to our inquiries. Our research indicates that Rick Lockhart and Justin Brown, each of whomguaranteed Eagle’s View’s loan, were also principals of Nueces Capital and havebeen sued for oil and gas investment fraud by multiple parties. Our research alsoindicates that they have taken default judgments, and may have little assetsavailable for recovery should Eagle’s View wish to pursue litigation againstthem.One Mission. Your Mission.

Next, we contracted with Payne to review Wyoming mineral title searches, andspecifically in Carbon County, to determine ownership of the Espy and HatfieldDome interests identified on exhibits to each of the Carter and Eagle Viewinvestments. After completing its research, Payne noted that they “did not findany county record indicated and supporting that Sacramento Valley Resourcesever had or owned an interest of any kind in the subject Espy [and Hatfield]wells, that was recorded. Likewise, Payne was unable to locate any recordedmineral interest attributable to Mr. Carter on the MOI Squaw Gap well.The Espy and Hatfield Dome wells in which SAV purported to have an interestare worth close to $3 million on an 8/8th PV15 valuations. The wells are operatedby TransHorizon Energy, which is owned by Tom and Craig Shanor, attorneys inWyoming. We reached out to the Shanor brothers regarding TransHorizon to seeif they could provide any additional information regarding the wells and SAV,but they did not respond. Forcing a response would likely require a lawsuitagainst SAV, Lockhart, and Brown, followed by a subpoena to the Shanors forinformation.Unfortunately, it does not appear that SAV exists to pay its notes. It does notappear that SAV ever owned the wells in which it purported to grant Eagle View asecurity interest. It does not appear that SAV ever assigned or could haveassigned Mr. Carter a working interest in the Squaw Gap well. And it does notappear that Eagle View’s guaranty is valuable, or that suit is likely to lead to anymaterial recovery. As a result, we advise that Eagle View and Mr. Carter write offthe entirety of their $215,000 loans to SAV as total losses.Prepared by:/s/ John J. KaneJohn J. Kane, Esq.One Mission. Your Mission.

MEMORANDUMThe purpose of this memorandum is to provide a detailed synopsis of Eagle’sView Holdings and Morrison Carter’s (“Clients”) investments in or loans to: (i)White Elk Resources, LLC (ii) AbTex Energy, Inc.; (iii) James D. Norvell, Jr.; and(iv) Sacramento Valley Resources, LLC. Further, we intend this memo to addressinvestment losses for tax purposes. In support of this memorandum weresearched federal, state, and credit-related information databases. We alsocontracted with D.R. Payne & Associates for Oklahoma oil and gas title andoperator research assistance. Remitted concurrently with this Memo arerecords from our research, which support the conclusions contained herein. Incertain instances, we were unable to find conclusive records, such as FEINs forAbTex Energy, Inc. and White Elk Resources, LLC. We have provided records wewere able to locate for those entities, including documents evidencing statetaxpayer numbers where no FEIN was available.FEDERAL & STATE TAX INFORMATION Nueces Capital, LLC a/k/a Nueces Capital LTDFEIN:751330605 AbTex Energy, Inc.Texas Taxpayer Number: 32063984267 White Elk Resources, LLCTexas Taxpayer Number: 32080036679 Grace Resources, Inc.FEIN:454710563 James D. Norvell Jr.SSN:463-77-6800The following federal and state identification numbers are provided exclusivelyfor tax reporting purposes and should not be otherwise disclosed to any otherparty unless assisting Clients for tax or litigation purposes. Despite significanteffort, we were unable to identify a Federal EIN for AbTex Energy, Inc. or WhiteElk Resources, LLC. We were able to locate Texas State Taxpayer IdentificationNumbers, which are provided below. 1.a.2.a.3.a.4.a.5.a.One investigative report identified a FEIN for AbTex Energy, but our researchand analysis indicated that the FEIN was associated with a separate legal entitythat pre-dated and had no relation to James D. Norvell Jr., and ceased existingwell in advance of the investments and loans described in more detail below.

During the past ten years, James D. Norvell, Jr. (“Norvell”) served as ChiefExecutive Officer, President, or in some leadership role at Grace Resources, Inc.(“Grace Resources”), AbTex Energy, Inc. (“AbTex”), and White Elk Resources,LLC (“White Elk”).Norvell is a criminal. Our records search indicates that asidefrom a healthy rap sheet for speeding more than thirty miles per hour over thelimit in a number of counties and states, Norvell was charged with or convictedof bouncing checks, theft, driving while intoxicated, driving with a suspendedsentence, and felony possession of methamphetamines.Norvell appears to have applied his morally loose tendencies to the operations ofhis businesses. Grace Resources, AbTex, and White Elk were each involved inPonzi schemes or fraudulent scams tied to the acquisition, development, andoperation of oil and gas properties in Texas and Oklahoma. On July 17, 2020,when his scams ran out, Norvell filed for bankruptcy relief, commencing CaseNo. 20-41591-BTR-7 (the “Norvell Bankruptcy Case”) in the United StatesBankruptcy Court for the Eastern District of Texas (the “Bankruptcy Court”). Behind Norvell’s bankruptcy trails a wake of defrauded investorsA few years earlier in May, 2017, Grace Resources filed for bankruptcy relief inDallas, Texas. During the Grace Resources bankruptcy case, the bankruptcycourt determined that Billy Marcum, Grace Resources’ operator, wasperpetrating a Ponzi scheme. According to Norvell’s testimony around thattime, Norvell was unaware of Marcum’s scheme but alleges that he later learnedthat Marcum was taking money that individuals had invested in Grace Resourcesand misappropriating those funds for unauthorized uses. While Norvell claimedhe was largely unaware of the scheme, he later admitted that Marcum paid himfrom investor funds, and that he used a portion of those funds to purchase hishome. Despite that testimony, Norvell appears to have avoided further scrutinyin the years immediately following Grace Resources’ bankruptcy case. It wasonly after Norvel filed for personal bankruptcy relief that the scope of his AbTexfraud was brought to light, which is detailed below.Norvell no longer possesses any assets of value given the scope of hisbankruptcy case and liquidation of all of his and AbTex’s assets. Moreover,according to various sources including his prior lawyer, Norvell likely ranthrough a large portion of investor funds and his own assets, if he had any,acquiring illegal drugs which eventually landed him in jail and later in rehab.Even Norvell’s home was liquidated, the proceeds of which were used to paytaxes, costs and legal expenses of the Chapter 7 Trustee Mark Weisbart, andother creditors of Norvell’s bankruptcy estate. Clients should not expect any distribution from Norvell or AbTex. Clients did notfile proofs of claim in the Norvell Bankruptcy Case. The deadline to file proofs ofclaim expired on November 24, 2020. Our firm was retained more than a yearlater. As a result, Clients will not recover any proceeds, should they exist in anymaterial sum, from the liquidation of substantially all of Norvell and AbTex’sassets. NORVELL & ABTEX ENERGY, INC.A. NORVELL’S BUSINESSESOne Mission. Your Mission.

Norvell appears to have formed and incorporated AbTex in Texas in 2017, butshortly thereafter, AbTex forfeited its charter. AbTex sought reinstatement inmid-2020, listing Norvell as its registered agent. Around that same time, AbTexfiled an Assumed Name record with the Texas Secretary of State, thereafterdoing business as “AbTex” or “White Elk Resources.” Later that year Norvellformed White Elk as a separate Texas limited liability company, and heldhimself out as the newly-formed White Elk’s Chief Executive Officer.During the Norvell Bankruptcy Case, Norvell was called to testify on multipleoccasions regarding the source of funds deposited into his personal bankaccount, AbTex’s operations, and how Norvell used AbTex to fund his lifestyle.During those proceedings, Norvell noted that AbTex obtained leases and otheroil and gas interests previously owned by Grace Resources with money fromAbTex’s investors based on representations made to investors in investmentpitches. Norvell’s ownership interests in Grace Resources enabled him tofacilitate the mineral interest sales, while reserving excess funds for“redevelopment.” As a result, title research shows that Norvell, on behalf ofAbTex, did acquire interests in real redevelopment projects in Oklahoma, givingAbTex a façade of legitimacy.AbTex was not, however, legitimate. During the Norvell Bankruptcy Case,Weisbart, the Chapter 7 Trustee, obtained AbTex’s bank records throughdiscovery. AbTex’s bank records conclusively prove that Norvell used AbTex todefraud investors. AbTex’s records from 2019-2021 show more than $600,000of investments or sale proceeds for oil and gas ventures, including payments byMr. Carter. During that same time, AbTex’s bank statements show that Norvellwas using deposits to purchase guns, designer clothes, massages, jewelry, andto pay car payments on a Mercedes and a retainer for a criminal lawyer.Norvell’s bank statements make abundantly clear that Norvell was simplystealing money that investors believed was being used to acquire interests in oiland gas leases and development projects purportedly owed by AbTex. BecauseNorvell failed to use AbTex investments in the manner promised, AbTex did notcomplete redevelopment projects; failed to properly operate wells; caused wellsto fall into disrepair; failed to pay plugging and abandonment obligationsresulting in fines and sanctions; and allowed wells to cease producing in payingquantities.AbTex no longer exists. All of AbTex’s assets were liquidated through the NorvellBankruptcy Case after the Chapter 7 Trustee essentially pierced AbTex’scorporate veil and showed that AbTex was simply an extension of Norvell. As aresult, Mr. Carter cannot recover any losses incurred as a result of Norvell orAbTex’s fraud from either AbTex or Norvell. As detailed further below, White Elkwas similarly stripped of all assets in the Norvell Bankruptcy Case and, as aresult, is not a viable source of recovery. B. ABTEX – VEHICLE FOR FRAUD One Mission. Your Mission.

$250,180 – April 14, 2020o6% ORRI in Barrows Lease, Payne County, Oklahoma; 6.75% WI representing a 5.0625% Net Revenue Interest in the DocCole Development Program, Garvin County, Oklahoma$102,180 – July 24, 2020.75% ORRI in Barrows Lease (increase to 6.75% total)6.75% WI in the Doc Cole Development Program (increase to 13.5%WI)$172,000 – November 12, 20206.75% WI in the Barrows WI Development Program representing a5.0625% Net Revenue Interest3.375% WI in the Doc Cole Development Program (increase to16.875% WI)$63,460 – March 23, 20214.75% WI in the Doc Cole Development Program (increase to 21.625%WI)To perpetuate his fraudulent schemes, Norvell prepared convincing investmentsolicitation materials for AbTex pertaining to, among other projects: (a) certainwells in the Doc Cole field in Garvin County, Oklahoma (“Doc Cole”); and (b)wells under the Barrows Lease in Payne County, Oklahoma (the “BarrowsLease”). Based on Norvell’s solicitations, Mr. Carter made the followinginvestments in the Doc Cole and Barrows Lease opportunities:Our investigation of AbTex’s interest in the Barrows Lease and Doc ColeDevelopment Program yielded unfortunately negative results. CARTER INVESTMENTS IN ABTEXA. CARTER INVESTMENTS IN ABTEX “PROJECTS”B. BARROWS LEASE INVESTMENTS AND INTERESTSTo ensure an accurate analysis of Mr. Carter’s investments and their currentstatus, we engaged D. R. Payne & Associates, Inc. (“Payne”), a highly reputableand ethical Oklahoma-based mineral interest specialist with whom we havepreviously worked, to perform lease and title searches related to the Doc Coleand Barrows Lease projects.Payne’s research into the Barrows Lease interests yielded negative results.While AbTex appeared to have acquired an interest in the Barrows Lease inMarch, 2020, just before Mr. Carter’s initial investment, AbTex did not record itsinterests in the Barrows Lease as assignee until mid-March, 2021, nearly fourmonths after Mr. Carter’s final investment in the Barrows Lease projects. One Mission. Your Mission.

Worse, despite considerable diligence, Payne was unable to locate a recordedassignment of the oil and gas interests Mr. Carter acquired from AbTex in theBarrows Lease in Payne County. Payne was only able to locate a filed“Amendment to the Purchase & Development Agreement” (the “Amendment”)referencing the Barrows Lease in the Payne County Records. While thatdocument references Mr. Carter’s interests, and purports to increase thoseinterests with an additional .75% ORRI in the Barrows Lease there is notraditional recorded instrument assigning those interests from AbTex to Carterin the chain of title. We question whether that Amendment is effective totransfer the 6.75% ORRI from AbTex to Mr. Carter, given the lack of any priorrecorded assignment of AbTex’s ORRI to Mr. Carter in the chain of title. With that said, Mr. Carter could make a colorable argument that the Amendmentis a sufficient legal instrument to transfer a 6.75% ORRI in the Barrows Leasefrom AbTex to Mr. Carter. The Barrows Lease is defined in the Amendmentwhich is notarized and filed of record in the Registry of Deeds in Payne County,Oklahoma. The Amendment identifies AbTex as the owner of the leaseholdinterest, purports an increase in position, references a prior assignment (thoughthat assignment is not recorded), includes as an attachment an assignment of a6.75% ORRI, and is filed in Payne County, the location of the Barrows Lease. While the remainder of the purported assignments to Mr. Carter do not appearto have been recorded, the Amendment may be sufficient to preserve Mr.Carter’s 6.75% ORRI in the Barrows Lease. We recommend placing MarkTemple, AbTex’s successor-in-interest through a bankruptcy sale, on notice ofMr. Carter’s 6.75% ORRI, should the Barrows Lease yield improved productionfollowing Temple’s acquisition of AbTex’s interest, which is discussed in moredetail below. Mr. Temple would likely have identified the Amendment in hisdiligence, and should have been on notice at the time of the sale that Mr. Carterpossessed at least a 6.75% ORRI in the Barrows Lease.Given the limited value of AbTex’s interests in the Barrows Lease, seekingrecourse against Mr. Temple if he refuses to acknowledge Mr. Carter’s ORRI stillmay not be worthwhile given the limited dollars and interests in play. While welack data from 2022 and 2023, we do know that the Barrows Lease has notproduced any significant production in decades. For instance, productionreports evidence that the Barrows Lease did not produce even 600 barrels of oilin any year since 1981. The Barrows Lease was responsible for the production ofzero barrels of oil from November 2018 through September 2021. In October,2021, the Barrows Lease produced just 144 barrels of oil. Current productionunder the Barrows Lease is unknown. Given the potentially enforceable recorded instrument arguably evidencing Mr.Carter’s acquisition of a 6.75% ORRI in the Barrows Lease, we cannot state withcertainty that Mr. Carter’s investments in the Barrows Lease have no currentvalue. Even so, if Mr. Carter’s interests have value, that value may be minimalgiven past levels of production and the legal morass that Mr. Carter may need toovercome to realize Mr. Carter’s 6.75% ORRI. One Mission. Your Mission.

With that said, Mr. Carter should write off as a total loss all of the $172,000 thathe allocated to his acquisition of a 6.75% Working Interest (as opposed to thepreviously acquired ORRI) in the Barrows Lease on November 12, 2020. Thatpurported acquisition was never recorded, and there is no evidence that AbTexever assigned any such interest to Mr. Carter before the court-overseen sale ofAbTex’s interest in bankruptcy to Mr. Temple.That sale, free and clear ofunrecorded claims and interests, precludes Mr. Carter’s recovery on hisunrecorded claim.C. A.THE DOC COLE DEVELOPMENT PROJECT INVESTMENTS AND INTERESTSAs detailed above, Mr. Carter invested considerable funds to acquire a 21.625%WI in AbTex’s Doc Cole Development Project, located in Garvin County,Oklahoma. After considerable title research, Payne was not able to locate anyassignment from Abtex to Mr. Carter in Garvin County related to the Doc ColeDevelopment Project. The only recorded instrument that Payne could locateevidencing an assignment of AbTex’s interest in the Doc Cole DevelopmentProject to Mr. Carter was the Amendment, which was filed in Payne County, notGarvin. The Amendment references only a 13.5% working interest in the DocCole Development Program, but fails to provide a legal description of the DocCole Development Program. Moreover, the Amendment does not actuallyinclude any assignment related to the Doc Cole Development Program; it justreferences Carter’s purported 13.5% working interest. Given the location of thefiled Amendment and the lack of legal description of the Doc Cole interests Mr.Carter purportedly owned or acquired, we doubt that the Amendment wouldenforceable against Mr. Temple in court.Under bankruptcy law, an unrecorded working interest is very likely avoidableunder a bankruptcy trustee’s inherent “strong arm” powers pursuant to section544 of the Bankruptcy Code. An avoidable claim against property is typicallyeliminated in a sale of property under section 363 of the Bankruptcy Code. Aspreviously noted, the Chapter 7 Trustee in the Norvell Bankruptcy Case soldAbTex’s interest in the Doc Cole Development Project free and clear of all liens,claims, and encumbrances pursuant to section 363 of the Bankruptcy Code. As aresult, it very unlikely that Carter could enforce his referenced 13.5% workinginterest in the Doc Cole Development Project against Mr. Temple, and wouldrequire Mr. Carter to sue Mr. Temple in bankruptcy court for a determination ofeach party’s rights in the Doc Cole mineral interests. The potential downside of a working interest is an obligation to pay operatingcosts and expenses associated with wells under the lease. At this time, our firmis unaware of any money paid by Mr. Temple to Mr. Carter on account of hispurported interests. Similarly, our firm is unaware of any demands made by Mr.Temple on Mr. Carter to fund operating losses or other expenses as a workinginterest owner.If Mr. Temple has not issued any payments or demands, it wouldappear clear that Mr. Temple does not recognize Mr. Carter as a working interestowner in the Doc Cole project. Accordingly, unless Mr. Carter wishes to sue forthe recognition of his interests (which would not likely succeed), we believe thatof the $587,820 he paid to AbTex, Mr. Carter may write off every dollar heallocated to acquiring interests in Doc Cole. One Mission. Your Mission.

While this write off proposal may leave some uncertainty, the alternatives areprecarious. For instance, if Mr. Carter wants written confirmation from Mr.Temple that he (Mr. Carter) has no working interest in Doc Cole as a result of thebankruptcy sale and lack of proper recording of AbTex’s assignment to Mr.Carter, Mr. Temple may not provide it. A working interest owner typically hasboth upside, and downside, from operations. If wells are not operatingprofitably and Mr. Temple is losing money from his acquisition, he may seekcontributions from working interest holders to cover losses or to plug andabandon wells. Mr. Temple would be incentivized to leverage Mr. Carter’sposition for some contribution in exchange for a release. On the contrary, if thewells are operating profitably, Mr. Temple would likely be happy to provideconfirmation that Mr. Carter has no working interest in the Doc Cole wells.D. A.VALUE CONSIDERATIONS – ABTEX OPERATORS AND BANKRUPTCY SALEOF ABTEX’S INTERESTS TO MARK TEMPLEDiscovery in the Norvell Bankruptcy revealed that by August, 2021, Norvell raninto serious trouble with Oklahoma oil and gas regulatory agencies andcontacted Don Luckinbill of White Wolf Energy, LLC (“White Wolf”) and askedthat White Wolf operate the AbTex wells including among others the BarrowsLease and Doc Cole wells. Our research confirms that Norvell failed to maintainand develop wells in those projects, leading to regulatory issues and fines, andgenerally terrible conditions at well sites. The preceding operator for AbTex,Lucky Ace Petroleum, Inc., was even fined $55,000 by the State of Oklahoma forfailure to maintain well sites. Findings of fact and conclusions of law issued withthat judgment indicated that the majority of the wells in the Doc ColeDevelopment Project were in atrocious condition, would take considerablemoney to return to production, that salt water disposal was necessary and wouldbe costly, and that the operator was in violation of a number of Oklahoma lawsand regulations. According to Luckinbill, White Wolf and Norvell later came to an agreementpursuant to which, in exchange for operating the AbTex wells, all of theproceeds of the wells would be re-invested into them in order to resolve themounting regulatory concerns, pay fines, and bring the wells back online.Luckinbill, the operator for White Wolf, testified that’s exactly what happenedafter August 2021. White Wolf operated the wells, captured the proceeds,reinvested them into the properties, brought them into regulatory compliance,and maintained operations. When preparing this memo, our firm lacked information from Mr. Carter aboutwhether he received any distributions from the Barrows Lease on account of hispurported ORRI. We do know that during the Norvell Bankruptcy Case,Luckinbill, the operator over the Doc Cole and Barrows leases, testified that hedid not receive any additional payments, interests, or compensation foroperating the Doc Cole and Barrows leases on behalf of Norvell. He furthertestified that Norvell did not receive anything during the period in whichLuckinbill operated. After reasonable investigation, Mark Weisbart, the Chapter7 Trustee in the Norvell Bankruptcy, declined to sue White Wolf to recover anymoney. One Mission. Your Mission.

Weisbart’s failure to sue following reasonable investigation suggestsLuckinbill’s representations were likely credible. Weisbart is a fairly aggressiveChapter 7 Trustee. If he believed he had a reasonable claim that would lead to apotential recovery, he almost certainly would have pursued it. That leads to twoconsiderations. First, if a decent amount of money was reinvested into wells inwhich Mr. Carter owns an interest, the value of his interests may have improved.Second, if all of the profits of production were returned to bringing wells backinto regulatory compliance and zero dollars remained for payments to ORRI andWI holders, neither the Doc Cole nor Barrows leases could have been producingall that many barrels of oil. By year-end 2022, Weisbart moved for court approval in the Novell BankruptcyCase to liquidate substantially all of AbTex’s interests in the Doc Cole andBarrows Lease (among others). There was little interest in the properties afteran extensive marketing period. Eventually, Weisbart was able to locate andsecure a buyer for not only all of AbTex’s mineral interests in the Doc Cole andBarrows fields, but also in the Cutshall and Kelly fields. After a hearing, thebankruptcy court approved the sale of all of AbTex’s interests to Mark Templefor $120,000, free and clear of all liens, claims, and encumbrances. About$15,000 those proceeds were used to satisfy outstanding obligations to WhiteWolf and others for costs of operations and a finder’s fee.Mr. Temple now owns all of AbTex’s interest in the Barrows Lease and Doc ColeDevelopment Project. While his acquisition was “free and clear of all liens,claims, and encumbrances,” recorded mineral interests typically run with theland and remain enforceable. As a result, even despite the sale, Mr. Carter’s6.75% ORRI in the Barrows Lease may be valid and enforceable, as noted above.Mr. Carter’s 13.5% working interest in Doc Cole is very probably not enforceable.While there may be some risk involved, Mr. Carter should strongly considernotifying Mr. Temple of his ORRI in the Barrows Lease. Should a dispute ariseregarding that interest, Mr. Carter may be able to use the controversy to leveragea full release from Mr. Temple, concretely putting all ownership interests to bed.One Mission. Your Mission.