For more information contact: emailus@marcusevans.com An interview with Derren Geiger of Cornerstone Acquisition & Management Co., LLC, an asset management company at the marcus evans Private Wealth Management Summit Fall 2013 discusses why private wealth managers and high net worth individuals should consider investing in oil and gas royalty interests. Join the 2014 Private Wealth Management Summit along with leading regional investors in an intimate environment for a highly focused discussion on the latest investment strategies in the market. For more information contact: emailus@marcusevans.com

1. The Case for Investing in
Interview with: Derren Geiger, Chief
Operating Officer, Cornerstone
Acquisition & Management Co., LLC
The global demand for oil and gas is
consistently increasing, with royalty
interests providing an excellent vehicle
for investing in the asset class,
according to Derren Geiger, Chief
Operating Officer, Cornerstone
Acquisition & Management Co., LLC.
“Royalties have relatively low volatility
and produce a consistent return based
on the sale of a tangible asset each
month,” he details.
From an asset management company
attending the marcus evans Private
Wealth Management Summit Fall
2013 in Las Vegas, Nevada, December
8-10, Geiger discusses why private
wealth managers and high net worth
individuals should consider investing in
oil and gas royalty interests.
Why should investors consider oil
and gas royalty interests?
The allure of royalties is that they are a
conservative investment vehicle for
those seeking private oil and gas asset
exposure and a long-term bullish
outlook on energy. Owners are paid
directly off top-line gross revenues and
are not subject to operating expenses.
Royalties offer investors a consistent
cash flow yield, hard asset exposure and
a prudent currency and inflation hedge.
Royalties have relatively low volatility
and trade in a robust secondary market.
The Caritas Funds invest primarily in oil
and gas royalty interests, located
onshore throughout the Continental US.
How do royalties correlate with
other oil and gas assets?
Royalty interests are inherently stable
due to the consistent production-related
cash flow generated on a monthly basis.
Privately held oil and gas assets are not
as tightly correlated to spot oil and gas
prices or broad market indices such as
the S&P 500 relative to several other
publicly traded energy -related
investments. What we try to do is
enhance that stable return and reduce
volatility through aggressive hedging of
forward production. Caritas will sell a
certain percentage of production up to
four years forward if locking in oil and
gas prices meets or exceeds our
targeted return parameters.
Why now? Is it a particularly
advantageous time to invest in the
asset?
Overall global demand is rising on the
back of non-OECD countries, resulting in
developed and non-developed country
demand essentially being equal for the
first time in history. Total global
demand should reach a record of
approximately 90 million barrels a day
in 2013, which is expected to rise by
around one percent per year going
forward.
Secondly, we have seen a very dramatic
change in technological advances in the
oil and gas sector over the course of
the last several years. Massive
developments in imaging, drilling, and
extraction has led to multi-decade highs
in US oil and gas production. Currently,
the US is producing about 7.6 million
barrels a day, the highest level since
1992, and is expected to reach 8 million
barrels a day in 2014.
Infrastructure advancements have also
led to dramatic improvements of
domestic crude oil pricing. Pipeline,
trucking and rail take-away capacity
have efficiently moved crude oil to the
high demand hubs, pulling WTI pricing
higher toward that of the global Brent
benchmark.
The US is among the cheapest current
sources of natural gas production on the
planet. We have gone from natural gas
production shortages a few years ago to
planning extensive exports in the
decades ahead. Furthermore, the
ongoing transition from coal to natural
gas will increase market share in the
electricity generation sector going
forward.
Finally, Cornerstone has developed
extensive relationships in the oil and
gas space over a nine-year timeframe
that consistently provides enhanced
deal flow on attractive assets that are
not broadly marketed.
How is the secondary market for
royalty assets?
While royalty interests are private oil
and gas assets, the secondary market
for royalties is quite liquid due to their
cash flow generation allure. Royalty
portfolios of virtually any size are
typically sold in a matter of 30-45 days
or less.
Why are they considered suitable
for long-term investors?
Global oil and gas demand is rising on a
continuous basis as non-OECD country
demographics evolve. Technological
advancements in the US oil and gas
sector have led to an energy revolution
that continues to grow. The US
possesses several world class oil and
natural gas fields that the Caritas Funds
have direct exposure to. Royalties
provide a cash flow vehicle that
generates consistent yield through the
production of high demand energy
commodities. The Caritas portfolio is
dynamic and diverse, managed by a
team focused on property, acquisition
and hedging discipline.
Royalties offer
investors a
consistent cash
flow yield,
hard asset
exposure and
a prudent
currency and
inflation hedge
Oil & Gas Royalty Interests

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About the Private Wealth Management Summit Fall 2013
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About Cornerstone Acquisition & Management Co., LLC
Cornerstone Acquisition & Management Co., LLC is the Portfolio Manager of the Caritas Fund, a hedge fund that invests primarily in
oil and natural gas royalty and mineral interests. The underlying assets of the Caritas Funds include interests in thousands of wells
spread throughout 21 states in the Continental U.S. (very diverse, yet no offshore drilling exposure). The portfolio possesses a
dynamic mix of legacy positions (long-life, low declining production) with high growth assets located in world class basins/
reservoirs. The Caritas Funds generate return through payments received on oil and gas production, leasing mineral rights and
portfolio appreciation. The Caritas Team has managed the Funds since 2004 through some of the most volatile energy price
environments, generating very attractive risk-adjusted returns over a nine year tenure.
www.cornerstoneamc.com
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