RECEIVER'S QUARTERLY REPORTS

Second Quarterly Report - 1/29/2010
First Quarterly Report - 10/30/2009

Contact Information - Updated 11/05/2009
Frequently Asked Questions - Updated 08/20/2009

On July 1, 2009 the Securities and Exchange Commission ("SEC") filed a Complaint against Provident Royalties, L.L.C., et al.; Cause No. 3-09cv1238-L in the United States District Court for the Northern District of Texas. The SEC sought, and the Court appointed, Dennis L. Roossien, Jr. as the Receiver to assume management and control of Provident Royalties, L.L.C.; Provident Asset Management, L.L.C.; Provident Energy 1, L.P.; Provident Resources 1, L.P.; Provident Energy 2, L.P.; Provident Energy 3, L.P.; Shale Royalties II, Inc.; and each Shale Royalties, Inc. entity. A copy of the Complaint and the Order Appointing Receiver may be accessed via these links: Complaint | Order

As a result of the Receiver's appointment, the investor phone line has been closed and all further investor-related updates will be provided on this site whenever material developments occur and as this matter progresses. At this point, the Receiver is rapidly meeting with all relevant employees, professionals and related parties to understand the scope of the assets, business plans, investors and creditors. Please review the Frequently Asked Questions page on this website and we will build on that page as new questions are asked and answered so that all interested parties can have a common understanding. Major announcements will also be made by separate bold notice on this page.

Should you have specific inquiries with regard to the Receivership or the Bankruptcy, you may submit your question via email at this address http://www.epiq11.com/Contact.aspx

For investors needing to submit documents changing ownership or providing other notices to the Company, the following documents and procedures should answer your questions:

1) For re-registration - Change of Custodial Ownership, Add/Change Transfer on Death Beneficiary, Individual to Trust, JT ROS to Trust, IRA to individual, splitting of investment to two individuals, Custodial account number changes, etc.

Required Documentation
1. A) Letter of Instruction
  1. 1) Custodian Re-registration - Letter of Instruction from Custodian (Signature Guaranteed by Medallion Stamp)
  2. 2) Transfer on Death - Letter of Instruction signed by Investor (includes Beneficiary Name, Date of Birth, SSN, Address, & Percentage)
  3. 3) Individual, JT ROS, or Trust - Letter of Instruction signed by Investor
2. B) Trust Docs
3. C) W-9 (if TIN is changing)
4. D) Dividend Payment Directive (if instructions are changing)
5. E) All other pertinent documents pertaining to re-registration request (divorce decree, notarized and/or signature guaranteed letter of instruction, certified court order, etc.)
6. F) Send signed documents to Dennis Roossien, Receiver, 500 N. Akard, Suite 3800, Dallas Texas 75201.
2) Death Re-registrations

Required Documentation
1. A) Letter of Instruction - signed by personal representative or executor appointed in court documents unless Custodial account (Custodian will send signature guaranteed letter of instruction)
2. B) Certified Death Certificate
3. C) Letters Testamentary (Dated within 45 days)
4. D) W-9
5. E) Dividend Payment Directive
6. F) All other pertinent documents pertaining to re-registration request (trust docs, will, etc.)
7. G) Send signed documents to Dennis Roossien, Receiver, 500 N. Akard, Suite 3800, Dallas Texas 75201.
3) Address Changes

Required Documentation
1. A) Letter of Instruction - Signed by Investor
2. B) Send signed documents to Dennis Roossien, Receiver, 500 N. Akard, Suite 3800, Dallas Texas 75201.
4) Dividend Payment Directive Changes

Required Documentation
1. A) Dividend Payment Directive Form - Signed by Investor
  
  OR
2. B) Letter of Instruction - Signed by Investor
3. C) Send signed documents to Dennis Roossien, Receiver, 500 N. Akard, Suite 3800, Dallas Texas 75201.
5) Change of Broker & Broker Dealer

Required Documentation
1. A) Broker Dealer's Internal Change Form - signed by Investor
2. B) Letter of Instruction - signed by Investor
3. C) Block Transfers from Broker Dealer - signed by broker dealer principal
4. D) Send signed documents to Dennis Roossien, Receiver, 500 N. Akard, Suite 3800, Dallas Texas 75201.
6) Corrections - Inputting Errors or Errors on Subscription Documents

Required Documentation
1. A) Inputting Errors - Use jacket to verify error & document in sales force
2. B) Subscription Document Errors - Letter of Instruction signed by client & other pertinent documents depending on what error is
3. C) Send signed documents to Dennis Roossien, Receiver, 500 N. Akard, Suite 3800, Dallas Texas 75201.

Financial Restructuring Information

On June 22, 2009, Provident Royalties LLC and certain of its subsidiaries (the “Company”) announced the filing voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division. The Company will continue to operate its business uninterrupted during the reorganization process.

Additional information about our Chapter 11 filing is available via the following links:

Chapter 11 Basics and Glossary of Terms

Claim Information and Court Documents

Lists of Equity Security Holders

If the information provided here does not answer your question, you may submit an email at http://www.epiq11.com/Contact.aspx to leave a message and we will return your email within two (2) business days.