MV Oil Trust (the Trust) is a statutory trust. The Trust was formed to acquire and hold a term net profits interest for the benefit of the Trust unitholders. MV Partners, LLC (MV Partners) is a limited liability company engaged in the exploration, development, production, gathering and 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. These oil and gas properties include approximately 1,000 producing oil and gas wells. The trust is managed by Bank of New York Mellon Trust Company, N.A. as Trustee. As of December 31, 2011, approximately 62% of the net acres included in the underlying properties were located in the El Dorado Area, which is located in southeastern Kansas, and in the Northwest Kansas Area.