ITEM 2.06. Material Impairments.
On August 17, 2009 The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee") of LL&E Royalty Trust (the "Trust"), concluded that an impairment charge related to the Jay Field Property, in the full amount of the carrying value, is required under generally accepted accounting principles applicable to the Trust. The Trustee reached this conclusion in connection with the review and audit of the Trust's financial statements required to be included in the Trust's Form 10-K for the year ended December 31, 2008, based on the continuing shut-down of the Jay Field Property by its operator. The impairment charge in the full $1,705,100 carrying value of the asset was included in the amortization of royalty interest in the Trust Corpus, as this amount does not affect cash earnings.

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