Burk Royalty Co., Ltd concentrates its activities in East Texas and the Permian Basin although the Company operates properties in South Texas, Panhandle of Texas, North Texas and the Ft. Worth Basin.  The Company participates in the development of Buda Rose wells as operator and non-operator in Madison and Houston Counties covering over 110,000 acres which is the dominant lease position in the area. These wells produce oil, gas, and NGLs and the average EUR’s are in excess of 250,000 BOE per well. This acreage is also prospective for horizontal development in multiple zones.  The Company is a non-operated majority owner in Yoakum County in a San Andres water flood and horizontal development project. The Company has drilled over 210 vertical wells and 22 horizontal wells in developing this field.