Five States Energy Capital, LLC has sponsored one fund, Five States Energy Capital (“FSEC”) Fund 1.  The Fund invests in oil and natural gas properties on an equity basis, or as a lender of mezzanine capital (a financial structure which can be characterized as subordinated debt with equity participation).

Current FSEC Fund 1 has investments in:

Coachman Tombstone

Tufbow Tombstone  NE Welch  Activa Tombstone

Vector Tombstone  Grella Tombstone  North Permian Tombstone

Five States Energy Capital, LLC continues to source desirable crude oil investment opportunities throughout Texas, particularly west Texas, Oklahoma, New Mexico and along the Rocky Mountains. In the past, Five States Production Partnerships FSEC Geographic Focushave participated in development wells in the Bakken Shale oil play in North Dakota, all of which were economically successful. Currently Five States is focused in this area on small non-operating working interest owners in need of capital to meet their drilling obligations or who are selling assets.

Because of the current oversupply in the U.S. from ongoing development of shale plays, natural gas remains a complex investment proposition. As the market for natural gas continues to be developed, natural gas acquisitions and mezzanine investments will be a primary focus for Five States over the next several years.