in addition to the conveyance of the net profits interest , enduro also assigned to the trust the right to receive a payment equal to the amount the trust would have received had the net profits interest been in effect during the period from july 1 , 2011 through the day prior to 43 the closing of the initial public offering . as a result , enduro announced its first payment to the trust pursuant to the net profits interest in november 2011 , which payment covered the net profits attributable to the net profits interest consisting of the period from july 1 to september 30. the net profits attributable to the net profits interest will be impacted by the settlement of hedge contracts that enduro has entered into for 2012 and 2013. see item 7ahedge contracts below . the trust is not subject to any pre-set termination provisions based on a maximum volume of oil or natural gas to be produced or the passage of time . the trust will dissolve upon the earliest to occur of the following : ( 1 ) the trust , upon approval of the holders of at least 75 % of the outstanding trust units , sells the net profits interest , ( 2 ) the annual cash available for distribution to the trust is less than $ 2 million for each of any two consecutive years , ( 3 ) the holders of at least 75 % of the outstanding trust units vote in favor of dissolution or ( 4 ) the trust is judicially dissolved . the trust is required to make monthly cash distributions of substantially all of its monthly cash receipts , after deducting the trust 's administrative expenses , to holders of record ( generally the last business day of each calendar month ) on or before the 10 th business day after the record date . the net profits interest will be entitled to a share of the profits from and after july 1 , 2011 attributable to production occurring on or after june 1 , 2011. on november 18 , 2011 , the trust announced the trust 's first distribution to unitholders of record on november 30 , 2011 of $ 10,385,199 or $ 0.314703 per unit , payable on december 14 , 2011. the trust 's first distribution related to net profits generated during the calculation period from july 1 , 2011 through september 30 , 2011 as provided in the conveyance . the distribution primarily represented oil and natural gas production during the months of june and july 2011 and only a portion of oil production related to august 2011 , while expenses were included for the full three months in the calculation period . subsequent distributions will only cover the trust administrative expenses and net profits attributable to the net profits interest for one month , and , as a result , are likely to be substantially less . the amount of trust revenues and cash distributions to trust unitholders depends on , among other things : oil and gas sales prices ; volumes of oil and natural gas produced and sold attributable to the underlying properties ; production and development costs ; price differentials ; potential reductions or suspensions of production ; and the amount and timing of trust administrative expenses . results of operations the trust was formed on may 3 , 2011. in connection with the closing of the initial public offering , on november 8 , 2011 , enduro contributed the net profits interest to the trust in exchange for 33,000,000 newly issued trust units . the net profits interest entitles the trust to receive 80 % of the net profits from the sale and production of oil and natural gas attributable to the underlying properties that are produced during the term of the conveyance , which commenced on july 1 , 2011. on november 18 , 2011 , the trust announced a trust distribution to unitholders of record on november 30 , 2011 of $ 10,385,199 or $ 0.314703 per unit , payable on december 14 , 2011. the trust 's first distribution related to net profits generated during the calculation period from july 1 , 2011 through september 30 , 2011 as provided in the conveyance of net profits interest to the trust . the distribution primarily represented oil and natural gas production during the months of june and july 2011 and only a portion of oil production related to august 2011 , while expenses are included for the full three months in the calculation period . subsequent distributions will only cover the net profits attributable to the net profits interest for one month , and , as a result , are likely to be substantially less . 44 the following table displays oil and natural gas sales , volumes and average prices from the underlying properties , representing the amounts included in the net profits calculation for the first distribution . underlying sales volumes average price oil ( bbls ) natural gas ( mcf ) oil ( per bbl ) natural gas ( per mcf ) underlying properties 220,481 1,413,458 $ 89.39 $ 4.63 total capital expenditures included in the net profits calculation during 2011 were approximately $ 3.2 million . for the period from inception through december 31 , 2011 , the trust 's distributable income was $ 10,385,199 and was based on income from net profits interest of $ 10,535,206 less general and administrative expenses of $ 37,261 and cash withheld for future trust expenses of $ 112,746. computation of net profits income received by the trust the trust 's net profits income consists of monthly net profits attributable to thenet profits interest . story_separator_special_tag net profits income for the period from inception through december 31 , 2011 was determined as shown in the following table : replace_table_token_7_th story_separator_special_tag ( a ) under the terms of the trust agreement , the trust pays an annual administrative fee of $ 200,000 to the trustee and $ 2,000 to the delaware trustee . because the term of the net profits interest and the trust are not limited , the aggregate amounts of future payments can not be calculated . new accounting pronouncements as the trust 's financial statements are prepared on the modified cash basis , most accounting pronouncements are not applicable to the trust 's financial statements ; therefore , no new accounting pronouncements have been adopted or issued that would impact the financial statements of the trust . critical accounting policies and estimates the trust uses the modified cash basis of accounting to report trust receipts of the net profits interest and payments of expenses incurred . the net profits interest represents the right to receive revenues ( oil and natural gas sales ) , less direct operating expenses ( lease operating expenses and production and property taxes ) and development expenses of the underlying properties plus any payments made or net of payments received in connection with the settlement of certain hedge contracts , multiplied by 80 % . cash distributions of the trust will be made based on the amount of cash received by the trust pursuant to terms of the conveyance creating the net profits interest . the financial statements of the trust , as prepared on a modified cash basis , reflect the trust 's assets , liabilities , trust corpus , earnings and distributions as follows : ( a ) income from net profits interest is recorded when distributions are received by the trust ; ( b ) distributions to trust unitholders are recorded when paid by the trust ; ( c ) trust general and administrative expenses ( which includes the trustee 's fees as well as accounting , engineering , legal , and other professional fees ) are recorded when paid ; ( d ) cash reserves for trust expenses may be established by the trustee for certain expenditures that would not be recorded as contingent liabilities under accounting principles generally accepted in the united states of america ( gaap ) ; 47 ( e ) amortization of the investment in net profits interest is calculated on a unit-of-production basis and is charged directly to trust corpus . such amortization does not affect cash earnings of the trust ; and ( f ) investment in the net profits interest is periodically assessed to determine whether its aggregate value has been impaired below its total capitalized cost based on the underlying properties . if an impairment loss is indicated by the carrying amount of the assets exceeding the sum of the undiscounted expected future net cash flows , then an impairment loss is recognized for the amount by which the carrying amount of the asset exceeds its estimated fair value . while these statements differ from financial statements prepared in accordance with gaap , the modified cash basis of reporting revenues , expenses , and distributions is considered to be the most meaningful because monthly distributions to the trust unitholders are based on net cash receipts . this comprehensive basis of accounting other than gaap corresponds to the accounting permitted for royalty trusts by the u.s. securities and exchange commission as specified by staff accounting bulletin topic 12 : e , financial statements of royalty trusts . the preparation of financial statements requires the trust to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period . actual results could differ from those estimates . oil and gas reserves . the proved oil and gas reserves for the underlying properties are estimated by independent petroleum engineers . reserve engineering is a subjective process that is dependent upon the quality of available data and the interpretation thereof . estimates by different engineers often vary , sometimes significantly . in addition , physical factors such as the results of drilling , testing and production subsequent to the date of an estimate , as well as economic factors such as changes in product prices , may justify revision of such estimates . because proved reserves are required to be estimated using prices at the date of the evaluation , estimated reserve quantities can be significantly impacted by changes in product prices . accordingly , oil and gas quantities ultimately recovered and the timing of production may be substantially different from original estimates . the standardized measure of discounted future net cash flows is prepared using assumptions required by the financial accounting standards board and the securities and exchange commission . such assumptions include using year-end oil and gas prices and year-end costs for estimated future development and production expenditures . discounted future net cash flows are calculated using a 10 % rate . changes in any of these assumptions , including consideration of other factors , could have a significant impact on the standardized measure . the standardized measure does not necessarily result in an estimate of the current fair market value of proved reserves . amortization of net profits interest . the trust amortizes the investment in net profits interest using the units-of-production method . the rate of recording amortization is dependent upon estimates of total proved reserves , which incorporate various assumptions and future projections . if the estimates of total proved reserves decline significantly , the rate at which we record amortization expense may increase , reducing trust corpus . such a decline in reserves may result from lower commodity prices , which may make it uneconomic to drill for and produce higher cost fields . we are unable to predict changes in reserve quantity estimates as such quantities are dependent on future economic

liquidity and capital resources other than trust administrative expenses , including any reserves established by the trustee for future liabilities , the trust 's only use of cash is for distributions to trust unitholders . available funds are the excess cash , if any , received by the trust from the net profits interest and other sources ( such as interest earned on any amounts reserved by the trustee ) in that month , over the trust 's expenses paid for that month . available funds are reduced by any cash the trustee decides to hold as a reserve against future expenses . 45 the trustee may create a cash reserve to pay for future liabilities of the trust . if the trustee determines that the cash on hand and the cash to be received are , or will be , insufficient to cover the trust 's liabilities , the trustee may authorize the trust to borrow money to pay administrative or incidental expenses of the trust that exceed cash held by the trust . the trustee may authorize the trust to borrow from the any person , including the trustee or the delaware trustee or an affiliate thereof . the trustee may also cause the trust to mortgage its assets to secure payment of the indebtedness . the terms of such indebtedness and security interest , if funds were loaned by the entity serving as trustee or delaware trustee or an affiliate thereof , would be similar to the terms which such entity would grant to a similarly situated commercial customer with whom it did not have a fiduciary relationship .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources other than trust administrative expenses , including any reserves established by the trustee for future liabilities , the trust 's only use of cash is for distributions to trust unitholders . available funds are the excess cash , if any , received by the trust from the net profits interest and other sources ( such as interest earned on any amounts reserved by the trustee ) in that month , over the trust 's expenses paid for that month . available funds are reduced by any cash the trustee decides to hold as a reserve against future expenses . 45 the trustee may create a cash reserve to pay for future liabilities of the trust . if the trustee determines that the cash on hand and the cash to be received are , or will be , insufficient to cover the trust 's liabilities , the trustee may authorize the trust to borrow money to pay administrative or incidental expenses of the trust that exceed cash held by the trust . the trustee may authorize the trust to borrow from the any person , including the trustee or the delaware trustee or an affiliate thereof . the trustee may also cause the trust to mortgage its assets to secure payment of the indebtedness . the terms of such indebtedness and security interest , if funds were loaned by the entity serving as trustee or delaware trustee or an affiliate thereof , would be similar to the terms which such entity would grant to a similarly situated commercial customer with whom it did not have a fiduciary relationship .
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 Suspicious Activity Report : in addition to the conveyance of the net profits interest , enduro also assigned to the trust the right to receive a payment equal to the amount the trust would have received had the net profits interest been in effect during the period from july 1 , 2011 through the day prior to 43 the closing of the initial public offering . as a result , enduro announced its first payment to the trust pursuant to the net profits interest in november 2011 , which payment covered the net profits attributable to the net profits interest consisting of the period from july 1 to september 30. the net profits attributable to the net profits interest will be impacted by the settlement of hedge contracts that enduro has entered into for 2012 and 2013. see item 7ahedge contracts below . the trust is not subject to any pre-set termination provisions based on a maximum volume of oil or natural gas to be produced or the passage of time . the trust will dissolve upon the earliest to occur of the following : ( 1 ) the trust , upon approval of the holders of at least 75 % of the outstanding trust units , sells the net profits interest , ( 2 ) the annual cash available for distribution to the trust is less than $ 2 million for each of any two consecutive years , ( 3 ) the holders of at least 75 % of the outstanding trust units vote in favor of dissolution or ( 4 ) the trust is judicially dissolved . the trust is required to make monthly cash distributions of substantially all of its monthly cash receipts , after deducting the trust 's administrative expenses , to holders of record ( generally the last business day of each calendar month ) on or before the 10 th business day after the record date . the net profits interest will be entitled to a share of the profits from and after july 1 , 2011 attributable to production occurring on or after june 1 , 2011. on november 18 , 2011 , the trust announced the trust 's first distribution to unitholders of record on november 30 , 2011 of $ 10,385,199 or $ 0.314703 per unit , payable on december 14 , 2011. the trust 's first distribution related to net profits generated during the calculation period from july 1 , 2011 through september 30 , 2011 as provided in the conveyance . the distribution primarily represented oil and natural gas production during the months of june and july 2011 and only a portion of oil production related to august 2011 , while expenses were included for the full three months in the calculation period . subsequent distributions will only cover the trust administrative expenses and net profits attributable to the net profits interest for one month , and , as a result , are likely to be substantially less . the amount of trust revenues and cash distributions to trust unitholders depends on , among other things : oil and gas sales prices ; volumes of oil and natural gas produced and sold attributable to the underlying properties ; production and development costs ; price differentials ; potential reductions or suspensions of production ; and the amount and timing of trust administrative expenses . results of operations the trust was formed on may 3 , 2011. in connection with the closing of the initial public offering , on november 8 , 2011 , enduro contributed the net profits interest to the trust in exchange for 33,000,000 newly issued trust units . the net profits interest entitles the trust to receive 80 % of the net profits from the sale and production of oil and natural gas attributable to the underlying properties that are produced during the term of the conveyance , which commenced on july 1 , 2011. on november 18 , 2011 , the trust announced a trust distribution to unitholders of record on november 30 , 2011 of $ 10,385,199 or $ 0.314703 per unit , payable on december 14 , 2011. the trust 's first distribution related to net profits generated during the calculation period from july 1 , 2011 through september 30 , 2011 as provided in the conveyance of net profits interest to the trust . the distribution primarily represented oil and natural gas production during the months of june and july 2011 and only a portion of oil production related to august 2011 , while expenses are included for the full three months in the calculation period . subsequent distributions will only cover the net profits attributable to the net profits interest for one month , and , as a result , are likely to be substantially less . 44 the following table displays oil and natural gas sales , volumes and average prices from the underlying properties , representing the amounts included in the net profits calculation for the first distribution . underlying sales volumes average price oil ( bbls ) natural gas ( mcf ) oil ( per bbl ) natural gas ( per mcf ) underlying properties 220,481 1,413,458 $ 89.39 $ 4.63 total capital expenditures included in the net profits calculation during 2011 were approximately $ 3.2 million . for the period from inception through december 31 , 2011 , the trust 's distributable income was $ 10,385,199 and was based on income from net profits interest of $ 10,535,206 less general and administrative expenses of $ 37,261 and cash withheld for future trust expenses of $ 112,746. computation of net profits income received by the trust the trust 's net profits income consists of monthly net profits attributable to thenet profits interest . story_separator_special_tag net profits income for the period from inception through december 31 , 2011 was determined as shown in the following table : replace_table_token_7_th story_separator_special_tag ( a ) under the terms of the trust agreement , the trust pays an annual administrative fee of $ 200,000 to the trustee and $ 2,000 to the delaware trustee . because the term of the net profits interest and the trust are not limited , the aggregate amounts of future payments can not be calculated . new accounting pronouncements as the trust 's financial statements are prepared on the modified cash basis , most accounting pronouncements are not applicable to the trust 's financial statements ; therefore , no new accounting pronouncements have been adopted or issued that would impact the financial statements of the trust . critical accounting policies and estimates the trust uses the modified cash basis of accounting to report trust receipts of the net profits interest and payments of expenses incurred . the net profits interest represents the right to receive revenues ( oil and natural gas sales ) , less direct operating expenses ( lease operating expenses and production and property taxes ) and development expenses of the underlying properties plus any payments made or net of payments received in connection with the settlement of certain hedge contracts , multiplied by 80 % . cash distributions of the trust will be made based on the amount of cash received by the trust pursuant to terms of the conveyance creating the net profits interest . the financial statements of the trust , as prepared on a modified cash basis , reflect the trust 's assets , liabilities , trust corpus , earnings and distributions as follows : ( a ) income from net profits interest is recorded when distributions are received by the trust ; ( b ) distributions to trust unitholders are recorded when paid by the trust ; ( c ) trust general and administrative expenses ( which includes the trustee 's fees as well as accounting , engineering , legal , and other professional fees ) are recorded when paid ; ( d ) cash reserves for trust expenses may be established by the trustee for certain expenditures that would not be recorded as contingent liabilities under accounting principles generally accepted in the united states of america ( gaap ) ; 47 ( e ) amortization of the investment in net profits interest is calculated on a unit-of-production basis and is charged directly to trust corpus . such amortization does not affect cash earnings of the trust ; and ( f ) investment in the net profits interest is periodically assessed to determine whether its aggregate value has been impaired below its total capitalized cost based on the underlying properties . if an impairment loss is indicated by the carrying amount of the assets exceeding the sum of the undiscounted expected future net cash flows , then an impairment loss is recognized for the amount by which the carrying amount of the asset exceeds its estimated fair value . while these statements differ from financial statements prepared in accordance with gaap , the modified cash basis of reporting revenues , expenses , and distributions is considered to be the most meaningful because monthly distributions to the trust unitholders are based on net cash receipts . this comprehensive basis of accounting other than gaap corresponds to the accounting permitted for royalty trusts by the u.s. securities and exchange commission as specified by staff accounting bulletin topic 12 : e , financial statements of royalty trusts . the preparation of financial statements requires the trust to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period . actual results could differ from those estimates . oil and gas reserves . the proved oil and gas reserves for the underlying properties are estimated by independent petroleum engineers . reserve engineering is a subjective process that is dependent upon the quality of available data and the interpretation thereof . estimates by different engineers often vary , sometimes significantly . in addition , physical factors such as the results of drilling , testing and production subsequent to the date of an estimate , as well as economic factors such as changes in product prices , may justify revision of such estimates . because proved reserves are required to be estimated using prices at the date of the evaluation , estimated reserve quantities can be significantly impacted by changes in product prices . accordingly , oil and gas quantities ultimately recovered and the timing of production may be substantially different from original estimates . the standardized measure of discounted future net cash flows is prepared using assumptions required by the financial accounting standards board and the securities and exchange commission . such assumptions include using year-end oil and gas prices and year-end costs for estimated future development and production expenditures . discounted future net cash flows are calculated using a 10 % rate . changes in any of these assumptions , including consideration of other factors , could have a significant impact on the standardized measure . the standardized measure does not necessarily result in an estimate of the current fair market value of proved reserves . amortization of net profits interest . the trust amortizes the investment in net profits interest using the units-of-production method . the rate of recording amortization is dependent upon estimates of total proved reserves , which incorporate various assumptions and future projections . if the estimates of total proved reserves decline significantly , the rate at which we record amortization expense may increase , reducing trust corpus . such a decline in reserves may result from lower commodity prices , which may make it uneconomic to drill for and produce higher cost fields . we are unable to predict changes in reserve quantity estimates as such quantities are dependent on future economic

