1175872--3/26/2007--TREASURE_ISLAND_ROYALTY_TRUST

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{interest, director, officer}
{loss, insurance, financial}
{operation, natural, condition}
The occurrence of drilling, production or transportation accidents or other problems at any of the underlying properties could reduce trust distributions The trust is dependent on Newfield for funding. Trust unitholders have limited voting rights and the trust has no influence over the operation or future development of the underlying properties. Newfield s interests and the interests of the trust unitholders may not always be aligned. Newfield may transfer or abandon underlying properties Trust unitholders have limited ability to enforce their rights. Limited liability of trust unitholders is uncertain.

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