Gulf Coast Ultra Deep Royalty Trust (GULTU)

[ErnieBilco]

June 30, 2016 . An impairment charge of $89.5 million ,representing the carrying value associated with the offshore England and onshore Tortuga subject interests, was recorded for the six-month periodended June 30, 2015 ( $83.4 million of which was recorded for the three-month period ended June 30, 2015 ). At that time McMoRan informed theTrustee that it did not plan to drill or conduct operational activities on these subject interests prior to their lease expiration dates