912030--3/31/2006--TORCH_ENERGY_ROYALTY

related topics

{interest, director, officer}

{debt, indebtedness, cash}

{gas, price, oil}

{cost, regulation, environmental}

{stock, price, operating}

The Trust s business is subject to operational risks that may not be fully insured, which, if they were to occur, could adversely affect the Trust s financial condition or results of operations and, as a result, the Trust s ability to pay distributions to Unitholders. The Trust may be unable to compete effectively with larger companies, which may adversely affect the Trust s ability to generate sufficient revenue and its ability to pay distributions to Unitholders The Trust s operations are subject to regulations which may limit the Trust s production of natural gas or the price that the Trust receives for natural gas. Because the Trust handles oil and gas petroleum products, the Trust may incur significant costs and liabilities in the future resulting from a failure to comply with new or existing environmental regulations or an accidental release of hazardous substances in the environment. Net Proceeds Attributable to the Robinson s Bend Field Have Declined Significantly If the Trust terminates there is no assurance that the Trustee can sell the Net Profits Interests or the amount it will be sold for. Financial information of the Trust is not prepared in accordance with GAAP. The Trust is dependent on Torch and its subsidiaries to provide administrative services to the Trust. If the Trust terminates there is no assurance that the Trustee can sell the Net Profits Interests or the amount it will be sold for. Financial information of the Trust is not prepared in accordance with GAAP. The Trust is dependent on Torch and its subsidiaries to provide administrative services to the Trust.

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912030--3/31/2006--TORCH_ENERGY_ROYALTY_TRUST