MUNSCH HARDT ANNOUNCES PLAN OF LIQUIDATION
FOR PROVIDENT ROYALTIES, LLC AND AFFILIATES
Dallas — June 17, 2010 —

||Munsch Hardt Kopf & Harr, P.C.|| represented the Chapter 11 Trustee of Provident Royalties, LLC and its 26 debtor affiliates in successfully obtaining confirmation of a plan of liquidation for those entities on June 10, 2010. The plan was proposed jointly by the Chapter 11Trustee, the Official Committee of Unsecured Creditors and the Official Investors Committee. On June14, 2010, the plan took effect, and distributions to creditors have commenced.

The plan will pay 100 percent plus interest to all creditors holding allowed claims and creates a liquidating trust to pursue litigation against third parties for the benefit of holders of Provident’s preferred stock interests. Among the claims being pursued by the trust are personal claims of investors who elected to assign their claims against certain third parties to the liquidating trust. The plan was overwhelmingly approved by creditors and investors.

MUNSCH HARDT ANNOUNCES PLAN OF LIQUIDATION
FOR PROVIDENT ROYALTIES, LLC AND AFFILIATES
Dallas — June 17, 2010 —

||Munsch Hardt Kopf & Harr, P.C.|| represented the Chapter 11 Trustee of Provident Royalties, LLC and its 26 debtor affiliates in successfully obtaining confirmation of a plan of liquidation for those entities on June 10, 2010. The plan was proposed jointly by the Chapter 11Trustee, the Official Committee of Unsecured Creditors and the Official Investors Committee. On June14, 2010, the plan took effect, and distributions to creditors have commenced.

The plan will pay 100 percent plus interest to all creditors holding allowed claims and creates a liquidating trust to pursue litigation against third parties for the benefit of holders of Provident’s preferred stock interests. Among the claims being pursued by the trust are personal claims of investors who elected to assign their claims against certain third parties to the liquidating trust. The plan was overwhelmingly approved by creditors and investors.

Prior to filing bankruptcy, Provident and its affiliates were in the business of acquiring and investing in both producing and non-producing leasehold and mineral interests across the United States, with a primary focus in Oklahoma. From approximately September 2006 through January 2009, the Provident entities solicited investments and sold preferred stock through a series of private placement offerings. During that time period, the Provident entities raised approximately $485 million from approximately
7,700 investors nationwide. In response to significant declines in the price of both crude and natural gas in late 2008 and early 2009, Provident and certain of its affiliates were forced to file bankruptcy on June 22, 2009. Shortly thereafter, on July 1, 2009, the Securities & Exchange Commission (SEC) obtained an order from the Federal District Court in Dallas appointing a receiver for Provident and other entities, asserting that the private placement offerings were fraudulent and that the Provident entities
were a massive Ponzi scheme.

“Considering the unique legal issues presented by an SEC Receivership encompassing a pre-existing multi-debtor Chapter 11 bankruptcy proceeding, our ability to successfully sell the energy assets and then develop and confirm a plan in less than a year which pays creditors in full plus interest is a tremendous accomplishment” said Joseph J. Wielebinski, Chairman of the Insolvency, Restructuring & Creditors’ Rights Section of Munsch Hardt, and Executive Director of FraudNet.

The Munsch Hardt team was led by Shareholders Joseph J. Wielebinski and Kevin M. Lippman. Shareholders James M. McGee, Jay H. Ong, Mark L. Nastri, Christopher D. Speer and Richard W Wilhelm, and Associates Kate M. Patrick, Lee J. Pannier, Lea C. Dearing and Aryn S. Self, were also key members of the team. Dennis Roossien, served as the SEC Receiver and Chapter 11 Trustee.

Munsch Hardt, a commercial law firm with over 100 attorneys and offices in Dallas, Houston and Austin, Texas, provides the highest quality legal services and strategic business advice to companies and individuals of all sizes and has done so since 1985.

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Real Estate and Tax. Munsch Hardt is a multispecialty firmwhere experienced practitioners work together as a team across disciplinary lines to solve legalproblems. For more information, visit munsch.com.