Attached files
file | filename |
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8-K - FORM 8-K - TORCH ENERGY ROYALTY TRUST | h82984e8vk.htm |
EX-99.1 - EX-99.1 - TORCH ENERGY ROYALTY TRUST | h82984exv99w1.htm |
EX-99.2 - EX-99.2 - TORCH ENERGY ROYALTY TRUST | h82984exv99w2.htm |
Exhibit 99.3
NEWS RELEASE
FOR IMMEDIATE RELEASE
|
Contact: | |
June 15, 2011
|
Investor Relations | |
(800) 536-7453 |
Torch Energy Royalty Trust Announces the Effective Date of the Court Approved Settlement with
Derivative Unitholder Plaintiff and Constellation Energy Partners LLC
HOUSTON Torch Energy Royalty Trust (Trust) (NYSE: TRU) (www.torchroyalty.com) today announced
that the proposed Settlement and Release Agreement previously approved in all respects on April 13,
2011 by the Circuit Court of Tuscaloosa County, Alabama in the matter captioned Trust Venture
Company, LLC v. Constellation Energy Partners LLC (CV-2008-900751) by its terms became
effective on June 13, 2011. The proposed Settlement and Release Agreement provided that the
agreement would become effective on the date on which the Order and Final Judgment previously
issued by the Court on April 13, 2011 becomes final and unappealable which, absent appeal, was
anticipated to be June 13, 2011. As of June 14, 2011, the Trust believes that no appeal had been
filed with the Court. Therefore, the Trust believes by its terms the Settlement and Release
Agreement has an effective date of June 13, 2011.
Additional information about the lawsuit and settlement can be found in the Trusts filings with
the Securities and Exchange Commission and on the Trusts Web site www.torchroyalty.com.
About the Trust
The Trusts underlying properties are depleting assets consisting of net overriding royalty
interests in proved developed oil and gas properties located in Texas, Alabama and Louisiana and
approximately 99% of the estimated reserves are gas.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 with respect to the Trusts business that is not
historical information. As a general matter, forward-looking statements are those focused upon
future or anticipated events or trends and expectations and beliefs relating to matters that are
not historical in nature. The words believe, expect, plan, intend, estimate, or
anticipate and similar expressions, as well as future or conditional verbs such as will,
should, would, and could, often identify forward-looking statements. The Trust believes
there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain,
and the Trust may not realize its expectations and its beliefs may not prove correct. These and
other risks, uncertainties and assumptions are detailed in the Risk Factors section and elsewhere
in the documents filed by the Trust with the Securities and Exchange Commission. Accordingly,
there are or will be important factors that could cause actual outcomes or results to differ
materially from those indicated in these statements. The Trust undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result of new information,
future events, or otherwise.