October 11,2019

From:VETAR ENERGY G.P.Jorgen Bogdanoff, Managing General Partner2233 East 3rd Ave.Port Angeles, WA 98362Email: adsma@olvpen.com

FILEDocT I I 20r$

SEGRFTARY BOARD OFotl, GAS & MthitzuG

BEFORE THE BOARD OF OIL, GAS AND MTNING DEPARTMENT OF NATURAL RESOURCESSTATE OF UTAHDocket No.2019-021 Cause No. 139-168

IN THE MATTER OF THE PETITION OF VETAR ENERGY G.P. FOR A HEARING TODETERMINE WHY RIVIERAOPERATTNG, LLC, f/K/a LINN ENERGY HOLDINGS LLC,RIVIERA RESOURCES, A SPIN-OFF FROM LINN ENERGY, INC., HAS NOT PAID OIL ANDGAS ROYALTY PROCEEDS DUE FOR TWO (2) WELLS, THE WHITE T-23Cs WELL AND THEWHITE TRUST 3-23C5 WELL, LOCATED TN SECTION 23, TOWNSHIP 3 SOUTH, RANGE 5

WEST, DUCHESNE COLINTY UTAH.

LET IT BE KNOWN TO THE STATE OF UTAH, AND ALL PERSONS HAVING AN INTEREST IN THIS MATTER.

Subject: Two (2) Oil and Gas Wells named, White l-23C5 and White Trust 3-23C5, located inSection 23, Township 3 South - Range 5 West, Duchesne County, State of Utah.VETAR Energy G.P., (VETAR) the Lessor, owns an undivided 20Yo interest of the MineralRights of Section 23:Wll2SE1/4; SWl14 (240 gross acres) (48 net acres).

This is a time line and a brief history in regards to this matter, and my discoveries to date.

The Debtor: Riviera Operating'LLC f/k/a Linn Energy Holdings LLC, Riviera Resources,a spin-off from LINN Energy,Inc. (LINN)600 Travis, Suite 1700, Houston, TX 77002Contact person at Riviera Operating, LLCMs. Holly Anderson, Executive Vice President and General Counsel.

The Debtor are now planning of attending the hearing before THE BOARD OF OIL, GAS ANDMINING DEPARTMENT OF NATURAL RESOURCES STATE OF UTAH, set for December 11,

2019, attempting to convince the BOARD, to overlook their failures in following the laws of the State ofUtah, beginning with, not sending any of the Royalty Interest (RI) owners their DIVISION ORDERS andnotifuing them of the production "Wells' on their property, collecting the monthly proceeds from the saleof the production "WELLS", and defrauding the RI owners, by not paying them their part of the Royaltyincome. They are now coming to the BOARD to plead with unclean hands for a favorable outcome in itsbehalf.The words used in a court of law, "appearing and pleading with unclean hands" is not a

moral persuasion but an enforceable Rule of Law. The court will refuse to assist anyone whosecause of action is founded on their misconduct toward the other party.He who comes into equity must come with clean hands. This maxim bars relief for anyone guiltyof improper conduct in this matter at hand.

The subject lease was entered into on 17 April 1971, stipulating a I/8 (12.5%) Royalty payment.See copy of the lease agreement hereto attached.

LINN EXCHANGE PROPERTYS LLC. secured the subject lease and other leases like it on orbefore 21412015. Consequently, becoming the Lessee, who is by State of Utah law, becameresponsible of paying the Lessors their Royalty of the title e-mailed to me byG. Sterling Randolph at EP Energy, stating that the LEASEHOLD WORKING INTERESTS areheld by LINN EXCHANGE PROPERTYES LLC. See copy of title opinion hereto attached.

I refer you to, Utah Code 40-6-9. Proceeds from sale of productiono Payment of Proceeds,Requirements, and 40-6-9.1. Payment information to royalty owners.httos : //le.utah. sov/xcode/Titl e4OlChapter6/40-6-S9.htmlNone of the Codes therein were followed by LINN.For one (1) year, from June 2015 to end of May 2016. LINN failed to mail a DIVISIONORDER to VETAR (the lessor), or any of the other lessor to this property, to secure a signature.This should have been done immediately upon commencement of production of each well. LINNdeposited all of the Royalty funds, to into its general account, and failed to pay its lessors theirRoyalty Interest (RI). One can only speculate that this billion-dollar Company, had a team ofunqualified people in charge, who failed to abide by the laws of the States that they were doingbusiness in. During this same time period, June 2015 to end of May 2016, LINN continuedpaying Royalties to VETAR on four (4) other production "'Wells", that VETAR had DIVISIONORDERS with LINN in Duchesne County, Utah. Establishing that here they did followed thelaws of State of Utah. See attached LINN's monthly pay statement.

In Riviera Operating, LLC., answer to VETAR Energy's Payment Demand Letter, they arguethat on May 11,2016 (the "Petition Date"), Linn Energy,LLC and certain of its affiliatesincluding LINN (collectively, the "Debtors") filed for chapter 11 of the United StatesBankruptcy Code, and referring to the amount collected from June 2015 to end of May 2016and owing the Royalty Interest owners as a "Pre-Petition Demand".

It is important to recognize, that VETAR and all other RI owners, were never notified by LINNEnergy that they had two (2) producing Wells on the subject property.VETAR received a letter from LINN Claims Processing Center, dated 02128117, Copy of letterare hereto attached, informing us that they were in Chapter 1l.I then checked the records, and noticed that LINN was current on all the "Wells",that we hadDIVISIN ORDERS on, with LINN in Duchesne County, Utah.

On or about June 1, 2016, LINN started deposited into a Bank escrow account, also known as asuspense account, the net monthly proceeds due the RI owners from the production of the subjectwells. The first deposit was from June 2016 production, and thereafter to the date of sale of itsassets in Utah, to Altamont Energy. Later on, these deposits also including the proceeds from a

well named White 2-23-C5, that started producing October 2016. There was a total of$216,070.11 in this Suspense Account. This money was transferred by LINN to AltamontEnergy who now have payed VETAR Energy in full from June 2016.I believe the same holdstrue for the rest of the RI owners.

The Debtors lists the following Companies, including its tax identification numbers, in itsChapter 11 Plan of Reorganization,1. Linn Energy, LLC (7591)2.LinnCo, (6623)3. Linn Acquisition Company LLC (4791)4. Linn Energy Finance Corp. (5453)5. Linn Energy Holdings LLC (6517)6. Linn Exploration and Production Michigan LLC (0738)l.Linn Exploration Midcontinent LLC (3143)8. Linn Midstream LLC (9707)9. Linn Midwest Energy LLC (1712)10. Linn Operating Inc. (3530)11. Mid-Continent I LLC (1812)12. Mid-Continent II LLC (1869)13. Mid-Continent Holdings I LLC (1686)14. Mid-Continent Holdings II LLC (7129)

It is worth noting that, all the Leasehold Working Interests where in name LINN EXCHANGEPROPERTIES, LLC., and is not listed among the above. This is the LLC that held our leases andare therefore not apart of this chapter 1 1. See copy of title opinion, hereto attached.

The debt and outstanding balance relate to !@! Oil and Gas revenues from production andsales from subject property, from June 1,2015 to end of May 2016, forwarded monthly to LINNEnergy LLC. and/or LINN Exchange Properties LLC. (the lessee), by EP Energy E&PCompany, L.P., the Operator of the subject wells. Total paid to LINN: $5,209,823.80This is the amount owed to all RI owners 51731624.63See copy of Excel spreadsheet amount owed all RI owners, hereto attached.It is my intent to collect the addresses of each person (61) listed therein, and make them aware ofthe money owed them by sending them a copy of this letter and relevant documents.

It was not before Altamont Energy purchased the property from LINN in 2018, that I becameaware that VETAR was not being paid its RI.

Publications available:January 16 2018 Source: LINN Energy, LLCLINN Energy LLC's management, sold Linn Energy's assets in Utah, including our leases, toAltamont Energy for 132 Million Dollars. See copy of LINN press relies, hereto attached.

SAN ANTONIO EXPRESS NEWSBig payouts after bankruptcy as Linn Energy seeks to dissolve nameBy Jordan Blum, Staff Writer April 23,2018

"Former Wall Street darling Linn Energy will abandon the "Linn" name as it splinters intomultiple businesses, but not before its three top leaders took in more than $110 million incompensation after the company emerged last year from arguably the biggest bankruptcy of the

recent oil bust. Mark Ellis of the Houston company received a dramatical upgrade $60 millionpay package -primarily through stock awards -- after Linn reorganized its business in less than ayear of bankruptcy proceedings, according to a filing with the U.S. Securities and ExchangeCommission. That's more than triple the annual compensation of Exxon Mobil CEO DarrenWoods. Ellis said he plans to retire this year. Ellis' top lieutenants Chief Financial Officer DavidRottino and Chief Operating Officer Arden Walker - each received more than 25 million ln2017". Please note that David Rottino. now is the President and Chief Executive Officer and adirector of Riviera Resources Inc.

We, the owners of VETAR Energy G.P., Jorgen W. Bogdanoff, Brigitte Bogdanoff,, and BeritBogdanoff, are each representing our own part of ownership in VETAR, in regards to this matter

Yours sincerely.

Jorgen W. Bogdanoff, Managing General Partner

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frun: RandoQh, George (Sdrtrg)S.oe Tu€sdary, Se*mUer 11, 2018 1:59 PtrlTo: Jorgen W. BogdanotrSutlac* RE: lf- * 35459;31fF,27 - Vetar Energy I btbnd Eftril ]

Mr. Bqdanoff,

Thank you very much for the deed and chain of title information. After further research I found that the last title opinion for Section Z3-3S-SW, Duchesne County, UT,effective February 4, 2015. shows Vetar as a mineral interest owner and the lease owned at that time by Linn Energy. Please see below for the pertinent pages of the titleopinion. Altamont Energy LLC has since acquired Linn Energy's Working lnterest earlier this year and they can be contacted at royaltyinguiries@altamontenergy.com.

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Big payouts after bankruptcy as Linn Energy seeks todissolve nameBy Jordan Blum, Stafr WriterApril23,2018

Former wall street darling Linn Energy will abandon the "Linnn name as itsplinters into multiple businesses, but not before its three top leaders took in

more than $110 million in compensation after the company emerged last year

from arguably the biggest bankruptcy of the recent oil bust.

Mark Ellis, the CHO of the l{ouston conlpany, received a dramatically upgraelert

$60 million pay package - primarily through stock awarcls * after t,inn

reorganized its business in less than a year of'bankrul)tcy proceedings, accordingto a filing with the U.S. Securities and Exchange Commissiorr. That's rnore than

triple the annual compensation of uxxon Mobil cEo Darren woocls.

Ellis said he plans to retire later this year. Ellis'top lieutenants - Chief Financial

Officer David Rottino and Chief Operating Officer Arden Walker - each received

more than $25 million inaafi.

sRF 14344

case 16-60040 Document 1767 Fited in TXSB an ezlz9tL7 page 1 of 3

IN THE UNITED STATES BANKRUPTCY COURTF'OR THE SOUTHERN DISTRICT OF TEXAS

VICTORIA DIVISION

In re:

LINN ENERGY, LLC, et al.,t

Debtors.

)))))))

Chapter 1l

Case No. l6-60040 (DRJ)

(Jointly Administered)

NOTICE OF' OCCUNREN€E OF THE IOFFECTIVE DATE

PLEASE TAKE FURTHER NOTICE that the Effective Date occurred on Februrry2t,2017.

PLNASE TAKE FURTHER NOTICE thAt pursuant to Article v.B. of the Plans, unlessrespect to

Claims arising from the rejection of Executory Contracts or Unexpired Leases, pursuant to thePlans or the Confirmation Order must be filed within 30 days of: (l) the date of entry ofan orderof the Bankruptcy Court (including the Confirmation Order) approving such rejection; and(2) the effective date of such rejection. Any Clalms arising from the reJectlon of an

The Debtors in these chapter I I cases and the last four digits of each Debtor's federal tax identification numberare as follows: Linn Energy, LLC (7591); Berry Petroleum Company, LLC (9387); LinnCo, LLC (6623); LinnAcquisition Company, LLC (4791); Linn Energy Finance Corp-(5453); Linn Energy Holiings, LfC (enl'S;Linn Exploration & Production Michigan LLC (0738); Linn-Exploration Midcon'iinent, LIIC (31a3); LinnlI_i{stream, LLC (9707): Linn Midwest Energy LLC (1712); Linn Operating, Inc. (3530); Mid-Continent I,LLC (1812); Mid-Continent II, LLc (1869); Mid-Continent Holdings t, Llcltoao); Mid-Continent Holdings[, LLC (7129). The Debtors' principal offices are tocated at JPMorgan Cirase tower, 600 Travis SHeJt,Houston, Texas 77002.

Capitalized terms not otherwise defined herein have the same meanings as set forth in the applicable plan.

I

LIHH Energy Allnounc*t $als of tht Altarno,nt BlllebsllF*eld fur $133 tllilllion

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tl$l l fi{&4110lrilFlnnrnrrou.eom

Owner

ALLEN D VOORHIES JR

ANNA LOU BOETTCHER OHREL

ANNE LAUREN BIGLEY

ANTHONY HARVEY WH ITAKER

ARTHUR BIGLEY

BERENICE J BRADSHAW CHARITABLE

BLACK STONE MINERALS CO LP

CAROLYN R ASHLEY

CECILIA A WELLS

CHAPARRAL ROYALTY CO

CHERYLJ MURRAYTR

COLONIAL ROYALTIES LTD PTRSHIP

DANIEL G BIGLEY

DAVID W EVANS HEIRS

DELORES A FORSYTHE

DIXIE ANNE MECHAM WHITAKER EST

DRUKMAN PROPERTIES LLC

EDWARD LAWRENCE DOHENY

EVANSONS-A PRTNRSHIP

FRANK M ASHLEY JR

GEORGE MARION CALDER TR

GILBERT R HORROCKS

GUY HOLLENBECK

J SMITH INVESTMENTS LLC

JACK D CLOSE

JANE T BROWN&STEVEN W&ANTHONY

JEFFREYJOHN WHITAKER

JOHN C BIGLEY & KAREN T PEARL

JOSEPH S MERRILL

JULIE ANN BURDOIN

KENNETH E CALDER& ELISE CORENE

KEVIN L DOHENY

lnt

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

lnterest

0.000L038200.000L384200.0000041s0

0.00000ss400.000004L50

0.0000649400.0005646900.00000s7600.0000057700.0000878300.00004s680

0.000L95170

0.0000041s00.0000207600.0000055300.000005540

0.0000697s00.0000023L00.000020760

0.000005770

0.0000415300.0000830500.0000529s0

0.0093750000.0001170900.000049830

0.00000ss400.0000041s00.000221480

0.0000s29s0

0.0000415300.000004610

White 1-23

5 2,5O6,99t.72

260.27

347.0O

10.40

13.89

10.40

162.80'1,,4'J,5.62

14.44

14.46

220.18

1.1.4.5L

489.27

10.40

52.O4

13.86

13.89

174.86

5.79

52.O4

1,4.46

LO4.11,

208.20

132.74

23,502.L1_

293.s3

I24.9213.89

10.40

555.23

132.74

IO4.TL

11.56

White 3-23

s 2,702,932.09

280.62

374.1,4

1.1,.22

74.97

L1,.22

175.53

L,526.32

1.5.57

l_5.60

237.40

723.47

527.53

IL.2256.L1

1_4.95

74.97

188.53

6.24

56.11

15.60

1,12.25

224.48

L43.r225,339.99

31.6.49

1.34.69

L4.97

L1..22

598.65

1,43.L2

1.r2.25

t2.46

Total

S 5,209,823.90

540.89721-.14

21.62

28.86

21.62

338.33

2,941.94

30.01

30.06

457.58237.98

1,016.90

2'-.62108.15

28.81

28.86

363.39

L2.O3

108.15

30.05

2t6.36432.68

275.8648,842.10

610.02

259.61

28.86

2L.62

1,153.99

275.86

216.36

24.O2

KIMBERLY ANN RUARK

LARRY CLYDE MURRAY TR

LARSEN BEAR LAKE LLC

LAVINIA SCHREUDER TR

LAWRENCE J BRADSHAW SPECIAL

LUCILLE B BURHENN

LUCY BONSALL

LYNNE P BIGLEY

MARCIA S WRIGHT

MARILVN B REAGAN TR BENEF FRAN

MARKD&TARYNJRAVEN

MARY S PARLIN

MEAGHER OIL & GAS PROP INC

MELVIN D CLOSE TR

MST 72 LLC

MYRTLE W DRAPER

NODILO FAMILY TR

PATRICIA CLOSE

PENTAGON OIL CO

REX ROSS WALKER

RONALD VAN VOORHIES

RYAN ROBERT DOHENY

SHARON BELL

THOMAS E ROBINSON FAMILY TR

UNKNOWN WHITE 23C5 OWNERS

VETAR ENERGY

VICKY ANN MALLOCK FAMILY TR

VIOLA VESTAL COULTER FDN 01-13VODA ENERGY CO LLC

WILLIAM J&JANET B HATCH AB LIV

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

RI

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RI

0.0000230700.00004s6800.000041s30

0.000007860

0.0000078s0

0.000005770

0.0000046100.0000041500.000221_480

0.0000157100.0000041500.0000L1540

0.000016610

0.000117090

0.0002214800.0000332200.0000276800.0001170900.0001405900.00004L530

0.000103820

0.00000231_0

0.0000046100.000041530o.oot7L1,4600.0093750000.0000276800.000138410

0.0093750000.000027680

57.83

LI4.51.704.1,1,

19.70

19.68

14.46

11.56

10.40

555.23

39.38

L0.40

28.93

41..64

293.53

555.23

83.28

69.39

293.53

352.44

1.O4.tI

260.27

s.7911.56

ro4.7r4,290.44

23,502.11_

69.39

346.98

23,502.1,1

69.39

83,545.51

62.36

723.47

1.r2.25

2L.25

21.22

15.60

12.46

1.1..22

s98.6s42.46

t1..22

31.L9

44.90

31,6.49

598.65

89.79

74.82

3L6.49

380.01

1.12.25

280.62

6.24

12.46

1.12.25

4,625.9625,339.99

74.82

374.1L

25,339.99

74.82

90,o79.O2

120.19

237.98

2L6.3640.95

40.90

30.06

24.O2

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81.842L.62

60.L2

86.54610.02

1,153.99t73.O7L44.21

610.02732.45

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540.89

12.03

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48,842.LO

144.2t72t.O9

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144.2L

173,624.63

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522.66

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546,297.68

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546,222.s9

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568.53

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29,016.00

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527.79

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100

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100

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202

202

202

202

202

202

202

DRP

DRP

202

202

202

DRP

202

202

100

202

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202

202

Sales

Date

Prop

Net

Value

Avg

Prc

Prd

cd

Property

Gross

Vol

white 1-23C5Property

Gross

Value

Owner Gross

0.00937s

L92.O2 s

8,820.32 s

4,277.46 s

t.za S

2,040.78 s

o.2L s18.44 S

(18.44) S

18.8s S

434.04 S

(434.04) S

433.34 S

296.8s s

(1.28) s

r.28 S

(2s6.8s) s

294.46 S

95.2L s

(0.21) s

(ss.21) s

95.22 s

r,666.63 s

to2.7s s

o.1s S

(1.28) g

(0.ls) s

(102.7s) s

toz.to S

Ovner Sever

Tax

0.38

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8.55

4.08

Net Shere VETAR

ENERGY 0.009375

rgt.64

8,802.68

4,268.90

1.28

2,036.69

o.2t

13.30

(13.30)

L3.77

316.84

(316.84)

3T6,L4

2t3.26

(1.28)

0.02

(2t3.26},

210.88

64.LI

(0.21)

(64.11)

64.L2

1,663.30

69.4L

0.15

(0.02)

(0.1s)

(6e.41)

69.42

Property

Sever

Tax

Property

Deducts

Owner otherDeductions

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08/oLl2OLs

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0.03

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0.03

0.63

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0.63

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116.56

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116.56

83.16

t.26

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83.16

30.87

30.97

33.20

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Sales

Date

Prop

NetValue

Avg

Prc

Prd

cd

Property

Gross

Vol

-10,83

Property

Gross

Value

Property

Sever

Tax

PropertyDeducts

Owner otherDeductions

Net Shere

VETAR ENERGY

0.009375

OwnerGross OvnerSever

0.009375 Tax

orlotl2oL6

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otlorl2016

or/o1/2oL6

02/ot/2016

02/or/2016

02/orl2016

03/01/2016

03/ot/2016

03/oL/20L6

03/or/2016

03/otl2oL6

03/o7/2OL6

03/orl2ot6

03/0r/2016

03/orl2016

03/ot/2oL6

04/or/2016

04/oLl2OL6

04/or/2oL6

04/oL/2O76

04/or/2076

04/o1/2016

os/or/2016

os/oL/2016

os/ot/2016

os/oL/2016

os/or/2oL6

s26.6s

5r.22

sL.22

5L.22

$2s.72

s7.22

5t.22

S31.89

S31.89

$o.ss

S31.89

S31.89

So.gs

S31.89

S31.89

So.e8

S0.98

S34.s4

s1.03

$a+.s+

S34.s4

S1.03

s1.03

544.46

$42.r2

Sr.z2

5r.22

5L.22

2,867.99

10,814.00

278.06

-278.06

-10,814.00

10,814.00

2,867.9s

7,539.00

-2,867.94

2,867.94

-7,539.00

7,539.00

r,996.t7

284.36

5,572.OO

$r22,s

5t3,2s7

s

-Stz,zst

s96,680.

Sr+,:

-S14,3

S8,866.ss

SgL,4s2.t

s

S8,866.ss

59t,4s2.r7

S8,866.ss

-S8,866.ss

-S10,624.s0

s10,624.s0

599,o72.76

57,777.3s

-599,O72.42

$99,o72.42

-57,777.3s

$7 ,777.3s

s88,743.s3

irL,976.39

S6,814.66

-56,8L4.66

S6,814.66

1,148.63 s

124.29 5

124.34 s

(124.2s) s

906.38 s

L34.20 s

(134.20) s

83.12 s

8s7.36 s

99.60 s

83.12 s

8s7.36 s

es.60 s

83.12 s

(83.12) s

(ee.60) s

99.60 s

928.80 s

72.9r s

(s28.80) s

928.80 s(72.s1) s

72.91 s

83L.97 s

Lr2.28 s63.89 s

(63.8s) s

63.89 s

3.64

37.59

t.74

3.64

37.59

r.74

L.74

(3.64)

(r.74l,

7.74

41.30

1.32

(41.31)

4L.3L

(1.32)

r.32

38.40

5.15

1.30

(1.30)

1.30

45.40

45.40

(4s.40)

45.31

45.31

45.31

31.59

(31.ss)

31.59

23.24

(23.24l,

L,146.34

78.73

78.79

(78.731

868.41

82.76

(82.16)

79.44

8L9.77

s2.56

79.48

8r9.77

52.56

79.48

(7s.48)

(s2.s6)

52.56

887.50

40.00

(887.s0)

887.50

(40.00)

40.00

793.57

LO7.t3

39.25

(3e.2s)

39.2s

100

202

202

202

100

202

202

100

100

202

100

100

202

100

100

202

202

100

202

100

100

202

202

L00

100

202

202

202

s

s

s

s

s

s

s

5

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

2.30

0.16

0.15

37.97

2.72

(0.16)

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

$

s

)

s

s

s

s

s

s

s

s

s

s

s

5

s

s

s

s

s

$

s

s

s

s

$

s

s

3,

IL,

1r,49.33

(49.33)

45.31

(2.721,

2,467.99

1)(4s.3

White 1-23C5, Totals first 5 mo. 2015

White 1-23C5, Aug. to end of Dec. 2015

S 23,502.09

5L22,276.oo

S8,398.24

Ss,+oq.rs

-$8,398.24

s92,630.81

58,763.64

-58,763.64

58,477.79

s87,442.36

Ss,606.40

58,477.79

587,442.36

Ss,6o6.4o

$e,qtt.tg

-s8,477.79

-Ss,606.40

5s,606.40

S94,666.66

54,267.LL

-s94,666.33

S94,666.33

-54,267.r1

54,267.rr

584,647.88

5rL,427.s6

S4,186.1s

-54,186.1s

s4,186.1s

5625,ss9.40

51.,887,332.32

$2,so6,89L.72

So.oo

54,842.62

54,842.62

-54,s42.62

so.oo

Ss,261.81

-Ss,261.81

So.oo

So.oo

54,s32.77

$0.00

so.0o

$4,832.77

so.oo

So.oo

-54,832.77

s4,832.77

so.oo

S3,369.17

So.oo

so.oo

-S3,369.17

S3,369.17

So.oo

So.oo

$2,49o.L2

-52,490.t2

s2,49O.t2

524s.o4

$re.ss

$ro.sq

-S16.83

S4,049.98

s289.77

-5289.7r

S388.76

54,009.81

s18s.33

s388.76

s4,009.81

s18s.33

s388.76

-S388.76.

-S18s.33

S18s.33

S4,406.10

5L4L.o7

-$4,406.09

S4,406.09

-Sr4r.o7

5t4t.o7

S4,o9s.6s

Ss48.83

S138.39

-s138.39

s138.39

t,624.50

>_,52r.O4

\,257.69

\,263.59

\,257.69

,,680.79

1,315.16

1.315.15

t,452.t7

t,624.50

1

s668,

$1 ,913,

TOTAL 2016- 2017

23.24

Net ShereVETAR

ENERGY

Owner otherDeductions

Ovner Sever

Tax

Owner Gross0.009375Net

Prop

ValuePropertyDeducts

PropertySeverTax

PropertyGrossValueVol

GrossProperty

o"nl

"'"l

Prdcd

White Trust 3-32C5

SalesDate

06/orlzots

06/0r/2ots

06/01/20rs

07/oL/20Ls

07/or/21Ls

07loLl21rs

07/o7/20rs

07loL/2OLs

07lotlz0rs

07/ot/2ots

08/ot/2ors

o8/oL/2ors

08/07/2O1s

08/0]-/21rs

08/oLl2O7s

08/orl2ors

08/ot/2ots

09/oL/2ots

09/ot/20rs

09/or/2oLs

09/oL/zOLs

ro/or/2o]-s

ro/o1-l2oLs

ro/0L/2ots

ro/0r/2oLs

LO/OLl20ts

LO/Ot/2Or5

tr/orl20t5

Lr/orl2ors

LLlOLl2O7s

100

202

DRP

100

202

DRP

202

202

DRP

DRP

100

100

100

100

202

DRP

DRP

100

202

DRP

DRP

DRP

100

202

DRP

DRP

DRP

100

202

DRP

Sso.26

S1.s2

541.33

542.78

S1.61

S32.43

s1.61

S1.61

S32.43

Szz.qz

s36.03

$36.03

524.89

S3s.17

s1.ss

4.62

o.12

]-5.79

o.67

(0.67)

o.67

6.6s

0.19

o.r4

0.19

0.57

3.89

o.29

2.9L

0.15

24.O2

0.98

t21.32

2.66

(r2t.32\

72]..32

2.66

(2.66)

to7.97

L.62

55.95

0.6s

3.89

19,686.93

30,199.00

8.75

-30,199.00

30,r-99.00

8.75

-8.7s

9,849.44

276.3L

292.84

284.33

26,876.00

7.O7

-7.O7

5,426.30

13p27.OO

2.58

-2.58

4,899.35

7,907

s283.76

-52s3.76

S3s4,843.8i.

59,9s4.57

57,288.49

S9,999.60

54t,766.Ls

5L72.43

-5L72.43

5207,234.73

S21,316.s1

S69.s7

-S69.s7

S123.66

S167,006.06

ito,466.46

S709.69

Srg.gr

S14.s8

520.00

Soo.so

So.:+

-So.sq

5414.47

SEo.zo

S0.14

-S0.14

So.2s

s334.01

S14.16

-So.zs

So.2s

-So.2s

S310.37

s2,s

$o.oo

So.oo

S11,s16.36

5r72.77

-5r72.77

So.oo

5s,967.72

S69.78

-S69.78

So.oo

So.oo

S3,388.1s

50.00

5r2t.62

-5r2r.62

524s,

-S1.1

5206,820.26

S1s,318.09

-go.3s

$0.3s

SL23.4r

5166,672.os

S7,064.1s

-$r23.4r

Si..79

-51.7e

S1s4,876.68

2,308.33 s

8s.12 S

1.s1 s

7,895.91 s

4ss.20 s

z.oo S

(4ss.20) s

4ss.38 s

2.66 s

(2.66) s

3,326.66 s

93.32 S

68.33 s

93.74 5

agr.so S

r.62 s

(1.62) s

\,942.82 s

199.84 s

0.6s s

(0.6s) s

1.16 s

1,565.68 s

98.12 s

(1.16) s

1.16 S

(1.16) s

1,454.88 s

]lr.2r S

o.32 s

5246,22r.73

$s,ozg.s:

S160.

5842,230.49

S48,s54.19 57r.23 s

S283.

-S48,ss4.19 -57r.23

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

$

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

$

s

s

s

s

s

s

s

s

s

s

s

s

s

s

)s

s

s

s

2,303.7L

60.98

0.53

7,880.t2

333.2t

333.40

3,320.Ot

93.13

68.19

93.55

283.O2

1.,938.94

L43.6r

1.t6

r,562.55

66.23

(1.16)

0.02

(0.02)

r,457.97

73.63

o.32

-s

s

S283.

Sr. r

53s4,L34.r2

s

57,273.91

S9,979.60

s30,189.29

-s0.68

s0.68s

s27

s

3.13

0.13

s27

527

527

-s

s

-s

3L.76

1't4

(1

S1ss,187

5L.27

524.42

9,3

S33.es

Sls. S3,993. 57 37.43

ttl01/20rs

rr/01/2ors

Lrlot/zors

t2/orl2o7s

t2/o1/20rs

r2/oL/2OLs

L2/07/zOLs

524.42

Sz+.qz

524.42

s31.3s

51.30

S18.83

So.oo

S10,187

(0.32)

1,166.18

L46.96

o.24

(o.241

DRP

DRP

DRP

100

202

DRP

DRP

-S33.88

5o.+t

s

s

s

s

s

s

s

(0.32)

o.32

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

(0.32)

1,LL5.2I

95.50

o.23

3,967 s

0.31

(0.31)

48.30s s336.

50.97

3.16

0.00

White Trust 3-23C5 June to end of 2015

Sales

$2,283,s7t.66 59,980.91 94s,933.97 92,227,6s6.7s S 2t,4o9.2t S gg.sz $ tro.gg

Date

0L/0r/2016

02/0L/20L6

02/or/20t6

02/oLl2016

02/ot/2016

03/oL/2ot6

03/otl2016

04/or/2oL6

04/oL/2OL6

04/oLl2OL6

04/01/2OL6

os/o7/2016

0s/orl2016

os/oL/2ot6

os/oL/2oL6

os/oL/2016

os/o7/2016

os/oL/2oL6

0s/o7/2oL6

os/orl2016

White Trust Total firs 5 mo.

White Trust 3-23CS End of 2015

5 zo,seq.zz

Net ShereVETAR

ENERGY6 6noatE

836.L2

743.8r

99.75

99.79

(ee.7sl

896.98

65.57

794.36

51.L2

17e4.36\

794.36

799.92

108.70

59.34

(108.70)

108.70

(7ss.szl

799.92

(ss.34)

59.34

s

s

s

s

s

s

s

s

$

s

s

s

$

s

s

s

s

s

s

s

s

$

4,455.7r

20,884.27

Owner otherDeductions

OvnerSever

Tax

Owner Gross0.009375

873.02 s

776.33 s

r63.7s s

163.78 s

(163.72], 5

938.11 s

128.60 s

831.33 s

94.32 s

831.33 s

(831.33) s

838.62 5

Lr3.92 s97.7L s

(113.e2) s

113.92 s

(838.62) s

838.62 s(e7.7Ll 5

97.7r s

36.89

32.52

3.30

3.30

(3.30)

41.13

2.r7

36.97

1.69

36.97

(36.e7)

38.70

5.22

r.97

(s.22)

5.22

s

s

$

s

s

s

s

s

s

s

s

5

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

s

60.87

41.51

36.4L

60.70

60.70

(60.70)

(36.41)

36.4t

(38.70)

38.70

(1.s7) $

1.s7 s

NetProp

Value

s89,186.s0

S79,339.68

s10,640.39

51o,644.L4

-S10,640.39

Sss,678.06

56,994.28

584,73r.44

Ss,4s2.69

-584,73r.44

isq,tr.+q58s,324.67

'LL,s94.7456,329.10

-'rL,s94.74

iLr,s94.74

-58s,324.67

iss,324.67

-S6,329.10

$0,:zs.ro

547s,27s3a

52,227,6s6.78

702,932.04

DeductsProperty

So.oo

So.oo

ia,Eq.zq

56,474.24

-$6,474.24

So.oo

56,492.s7

s0.00

54,427.89

$o.oo

So.oo

So.oo

So.oo

S:,aaq.or

$o.oo

So.oo

so.oo

So.oo

-S3,884.01

S3,884.01

PropertySeverTax

S3,93s.24

S3,468.87

S3s1.74

S3s1.87

-53s1.74

54,387.48

5237.22

S3,943.68

s180.26

-S3,943.68

s3,943.68

54,r28.39

sss6.86

S209.23

-Ssso.so

Sss6.86

,54,L28.39

54,L28.39

-s209.23

5209.23

PropertyGrossValue

593,L2r.74

s82,808.ss

5L7,466.37

Sr7,47o.zs

-St7,466.37

S1oo,o6s.s4

5L3,718.o7

588,67s.t2

S10,060.84

-s88,67s.12

S88,67s.12

S89,4s3.06

S12,151.60

5ro,422.34

-S12,1s1.60

S12,151.60

-S89,4s3.06

s89,4s3.06

-51o,422.34

iLo,422.34

5sr7,947 .LI

s2,283,s7r.66

S2.801.s18.77

PropertyGross

Vol

3,488.79

3,2r9.88

14,487.OO

14,487.OO

-14,487.OO

3,138.1r.

t4,s28.OO

2,566.96

9,908.00

-2,566.96

2,566.96

2,OL2.t3

288.52

8,691.00

-288.s2

288.52

-2,Or2.L3

2,Or2.t3

-8,691.00

8,691.00

AvgPrc

S26.69

52s.72

5t.zt

5t.2L

S1.21

S31.8e

s0.94

S34.s4

S1.02

S34.s4

S:+.s+

544.46

54z.rz

sr.2o

542.t2

542.t2

544.46

544.46

S1.20

s1.20

Prdcd

100

100

202

202

202

L00

202

100

202

100

100

100

100

202

100

100

100

100

202

202

TOTAT

White 1-23C5, Total Aug.2015-End of May 2016White Trust 3-23C5 June 2015 to end of May 2016

S 2,s82,s33.1s

s 2,8]r,sr8,77

S s,384,0s1.92

)s

s

s

2,506,89L.72

2,702.932.0812s,339.98

23,sO2.O9

$ 48,842.07S s,209,823.80

(https://www. linnenergy.com)

OWNERS

0wnersOnAugust 7,20l8,Linn Energy completed the spin-offof Riviera Resources, Inc. ("Riviera"). Riviera now

owns all of Linn Energy's legacy oil and gas properties located in the Hugoton Basin, East Texas, North

Louisiana, Michigan/Illinois, the Uinta Basin, and Mid-Continent regions.

Please see the Owner Relations tab of the Riviera Resources website (http//www.rivieraresourcesinc.com) for

contact information.

This is a otNews release" by Riviera Resources. Inc.

Go to the end of the article and read; In 2017 and 2018" Linn Enerw sold $2BN in assets

and generated enough in proceeds to repav all debt and repurchase 9Yo ofshares outstanding.

If true, why were Royalties not payed prior to May 2016, on Two (2) Oil and Gas Wells named,White l-23C5 and White Trust 3-23C5, located in Section 23, Township 3 South - Range 5West, Duchesne County, State of Utah.

Riviera Resources: An Orphaned Spin-Off With88o/o+ UpsideApi. 10. 2019 I I ;26 z\lVI l: t'

About: Riviera Resources. Inc. (RVRA)

Stock Spin-off InvestingI-ong onll'. special situations. event-driven" resear.ch analvst

Stock Spj!:aiT4lpha

Summary

Riviera is a recent spin-off from Linn Energy.

It is executing well but has been ignored by sell-side analysts and institutional investors as it

trades over the counter.

Company is aggressively buying back stock. Has bought back 1Oo/o of shares since the spin-off.

Could buy back an addition al 17% of shares outstanding.

Elliott Management, Fir Tree Capital, And York Capital own over 50% of the company, control

the board of directors, and are aligned with minority shareholders to maximize value.

Current valuation implies up to 88% upside.

This idea was drscussed in more depth with members of my private investing community, Sfock

Spin-off Alpha. Starl vour free trial todav y

Summary

Riviera Resources (Riviera or OTCQX:RVRA) is an unlevered, orphaned oil and gas spin-off

that is trading at a deep discount to its peers. lt is covered by zero sell-side analysts and trades

over the counter. Once the company grows its midstream business, it will likely be sold or spun-

off which will be a major catalyst. Some of the shrewdest investors in the world own over 50% of

the stock, and the company is on track to buy back over 25o/o of shares outstanding. A

conservative valuation implies 30% upside. A more optimistic valuation implies 88Vo+ upside.

Overview

Riviera Resources is a spin-off from Linn Energy (LNGG), a post-bankruptcy equity that is

trading overthe-counter. Linn Energy emerged from bankruptcy on February 28,2017, and is

majority owned by Linn Energy debtors who bought the debt at distressed valuations prior to the

bankruptcy

\r-r..d .lddrem cl lkntllclrl lhlrr

lrhrrn sJ{ nnrtul Stdrl

lhrJttrqllbHdtt !

5ql iilarlh.ldrfr:[]llrrll tirilrli!:tFir T!c( ttqdrr rI1'** [ rFitrrl lirndrt* t

Source: Riviera Resources S-1

As shown above, Elliot funds (Elliott Management), Fir Tree Funds, and York Capital Funds own

over 50% of company's stock and effectively control the company. Elliot, Fir Tree, and York

Capital actually own a higher percentage than is indicated above as RVRA has been buying

back stock aggressively in the past 6 months.

These shareholders (and board members) have been working aggressively to unlock value at

the company as they believe shares are significantly undervalued ln 2O17 a 2018. Linn

Enerov sold $2BN in assets and qenerated enouqh in proceeds to repav all debt and

repurchase 9% of shares outstanding

On February 27,2018, Linn Energy announced its plan to split itself into three different publicly

traded companies. Ultimately, management and the board of directors decided that the best

path forward was to split into two (instead of three) publicly traded companies.

t.i{rdilr otlllldridhr

I i,?.il,I r:1,t,7 | :,n?$i.+ t {.1*-}

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