Enervest Investment Services LLC

Item 5: Fees and Compensation

DESCRIPTION OF COMPENSATION AND FEE SCHEDULE
In consideration of our services, certain of our affiliates generally are entitled to receive management fees and carried
interest distributions with respect to the Funds; provided that the BEP Funds are not subject to any management fees
or carried interest distributions in favor of us or our affiliate. While such fees and carried interest distributions are
described in detail in each Fund’s governing and offering documents, if any, a summary of our fee schedule is set
forth below.
Management Fees
With respect to each Fund (other than the BEP Funds), one of our affiliates generally is entitled to receive an annual
management fee, payable with respect to each calendar quarter in advance, equal to:
         (i) during the investment period (in general, five years from the date of the initial closing), 0.5% (2% per
             annum) of the aggregate commitments of investors; and
         (ii) after the end of the investment period, 0.375% (1.5% per annum) of the Funded commitments of
              investors that are invested in projects, net of write-offs or write downs due to loss in value that is not
              attributable to depletion.
For purposes of calculating the management fee after the investment period, capital commitments are increased
quarterly by additional capital contributions and reduced quarterly by the amounts distributed to the investors as a
return of capital. If we or any of our affiliates earn any break-up fees, director’s fees, consulting or advisory fees,
topping fees, commitment fees, success fees or other similar fees related to any of its properties, 100% of such fees
will be credited against the management fee proportionately between the applicable Funds based upon relative capital
commitments in each entity; provided that our affiliates and related persons have and will receive fees and revenues
from other sources that outside the scope of this offset requirement and will not be credited against the management
fee.
The annual management fee may be waived or reduced for any or all investors in any Fund.
Carried Interest Distributions
With respect to each Fund (other than the BEP Funds), our affiliate generally is entitled to receive a carried interest
distribution equal to 20% of net cash available from operations and asset or equity sales during the applicable monthly
or other period (following a preferred rate of return of 9%, compounded quarterly from the date of contribution, to
investors). On each “clawback determination date” (as such term is defined in the applicable governing documents of
such Fund), if carried interest distributions to our affiliates with respect to any investor have been made that resulted
in (i) our affiliates receiving more than 20% of net profits on an aggregate basis with respect to that investor or (ii)
that investor receiving less than a 9% rate of return, our affiliates may be obligated to return carried interest
distributions to the applicable fund for distribution to that investor (in accordance with the terms set forth in the
applicable governing documents of such Fund).
Our advisory fees with respect to such Funds are generally not negotiable. Nevertheless, management fees and/or
carried interest distributions may be reduced with respect to certain co-investment vehicles and we may elect to waive
or reduce such management fees and/or carried interest distributions that would otherwise be payable by any of our
clients pursuant to the terms and conditions of the governing documents of such client.
PAYMENT OF FEES
Management fees generally are payable quarterly, in advance, as of the first business day of each calendar quarter.
Management fees are typically funded with capital contributions drawn for such purpose, but may also be funded with
proceeds from investments or operating cash flows from the managed assets. In the event that a Fund is terminated or
our services are otherwise terminated, any unearned management fees will be reduced or eliminated.
Within thirty days after the end of each month, and at any additional times selected by the general partner or manager,
a Fund generally will pay distributions to the investors by wire transfer out of net cash flow, which distributions for
any such period will be equal to the amount of the Fund’s net available cash from operations and asset or equity sales
during such period less cash deemed necessary by the general partner or manager for certain reserves of the Fund. In

general, the Funds are not permitted to make any distributions in-kind to an investor without that investor’s prior
written consent.
OTHER FEES AND EXPENSES
Subject to the terms and conditions set forth in the applicable governing documents, all reasonable direct, third-party
out-of-pocket costs and expenses incurred in a Fund’s business generally are borne by such Fund, including, without
limitation, the costs and expenses set forth below. Each Fund bears any actual, documented, out-of-pocket, third party
expenses related to the offering and formation of such Fund, including any legal costs incurred by the general partners
or managers, as applicable, of such Fund (typically subject to a cap). Organizational expenses that are attributable to
a particular investor that caused a Fund to incur such expenses may be specially allocated to such investor. In addition
to any management fees, carried interest distributions, and organizational expenses, each Fund generally bears all
costs, fees and expenses relating to its business and activities including, but not limited to, the following: (i) legal,
auditing, consulting and accounting expenses; (ii) expenses associated with the preparation of the Fund’s financial
statements, tax returns and Schedule K-1 forms; (iii) expenses associated with annual meetings of the investors; (iv)
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Item 7: Types of Clients

DESCRIPTION
We only provide investment management and supervisory services to affiliated private pooled investment vehicles
(i.e., the Funds) which directly or indirectly invest in oil and natural gas properties and related assets, including
working interests, net profits interests, and other investments related to oil and natural gas assets and production.
ACCOUNT REQUIREMENTS
Each investor in each Fund must satisfy the eligibility requirements outlined in the applicable governing documents
or otherwise required by applicable laws. Investments in the Funds may also be subject to minimum initial investment
amounts per investor, which generally may be waived.
Investors in the Funds generally are required to be “accredited investors,” as such term is defined in Rule 501 of
Regulation D under the Securities Act of 1933, as amended, and “qualified purchasers” as such term is defined in
Section 2(a)(51)(A) of the Investment Company Act of 1940, as amended, and the rules promulgated thereunder.