MV Oil Trust (the Trust) is a statutory trust formed by MV Partners, LLC (MV Partners). The Trust was formed to acquire and hold a term net profits interest for the benefit of the Trust unitholders pursuant to a conveyance from MV Partners to the Trust. MV Partners is a limited liability company engaged in the exploration, development, production, gathering, aggregation and sale of oil and natural gas, primarily in the Mid-Continent region in the United States. The term net profits interest is an interest in underlying properties consisting of MV Partner's net interests in all of its oil and natural gas properties located in the Mid-Continent region in the states of Kansas and Colorado (the underlying properties). These oil and gas properties include 1,004 producing oil and gas wells. The business and affairs of the trust are managed by The Bank of New York Mellon Trust Company, N.A. As of December 31, 2008, the underlying properties produced predominantly oil from 1,004 wells.