Early in 2000, Orleans Capital Management Corporation (OCM) in conjunction with Simmons & Company International (SCI) identified a unique, opportunistic investment theme focusing on the developing global energy supply and demand dynamics. That fall, OCM launched its Energy Opportunities Original investment strategy, which is a long only, equity investment strategy designed to capitalize on increasing energy expenditures necessary to supply the energy required by a growing global economy. In executing this strategy, OCM teamed with SCI, a leading independent investment bank specializing in the entire spectrum of the energy industry. Pursuant to a Research and Sub-Advisory Agreement, SCI provided OCM with energy research and sub-advisory services used by OCM in the execution of the Energy Opportunities Original strategy.

During 2008, OCM and SCI formed Energy Opportunities Capital Management, L.L.C. (EOCM) as a separate entity to manage the Energy Opportunities Original and the related Energy Dynamics investment strategies. EOCM is a Delaware limited liability company, formed on May 9, 2008. EOCM became an SEC registered investment adviser on October 6, 2008. EOCM was formed to act as successor to the Energy Opportunities Original and Energy Dynamics investment strategies developed by OCM.

The primary thrust of the strategy is to capitalize on the ongoing positive supply and demand fundamentals that exist in energy markets. Among other things, we emphasize those sectors and companies that are beneficiaries of the necessary capital expenditures that will be required to generate the supply required to maintain and support increasing global energy demand and global economic growth. The fundamental investment objective is to produce returns superior to energy related benchmarks and broad market equity indices by investing in a diversified portfolio of energy company equities designed to capitalize on existing energy supply and demand fundamentals.

There is no guarantee that our strategies will yield a profit. In Fact there is always a risk of loss, including principal. Investing in sector specific
strategies involves risk such as Political and Economic uncertainty, Market Risk; Market Trading Risk; Non-Correlation Risk; Replication Management Risk; Equity Securities Risk; Large Capitalization Company Risk; Liquidity Risk; and Valuation Risk. These strategies lack diversification and may trade in non-US securities. Investing in foreign markets may entail risks that differ from those associated with investments in the US markets such as foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments.