The Bank of New York Mellon Trust Company, N.A., Corporate Trust

Mike Ulrich
919 Congress Ave, Suite 500
Austin, TX 78701
Phone: 512-236-6599

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Q – How long are the trust’s distributions expected to last?

A – The net profits interest terminated effective January 28, 2015. Pursuant to the terms of the net profits interest, a final distribution will be made no later than March 30, 2015, to holders of record on March 19, 2015. Given the time lag between when production is produced and sold and the receipt of revenues and payment of expenses relating thereto, on or about August 31, 2015, the trust may make a “true-up” distribution if, after the receipt of revenues and payment of expenses, the final distribution is higher than the amount paid by March 30, 2015. Holders of record on March 19, 2015 will be entitled to such distribution, if any. There may not be any “true-up” distribution or, if there is one, it is not likely to be significant. After any “true-up” distribution or determination that no such payment will be made, the trust will soon thereafter wind up its affairs and terminate, after which it will pay no further distributions.

Q – What will be the value of the units when the trust terminates?

A – Zero. There will be a final cash distribution to unit owners as noted above. The properties associated with the trust have reverted back to Whiting Petroleum Corporation as of January 28, 2015, the net profits interest termination date.

Q – For tax reporting purposes, does the trust issue a K-1?

A – No. A tax guide will be sent to unit owners in January of each year. Typically, the tax information for the trust can be reported on a 1099.

Q – Who should I contact if I have questions about the trust?

A – Please contact the trustee: Mike Ulrich of The Bank of New York Mellon Trust Company at 512.236.6599.