Case 4:15-cv ALM Document 36 Filed 06/09/15 Page 1 of 3 PageID #: 970

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1 Case 4:15-cv ALM Document 36 Filed 06/09/15 Page 1 of 3 PageID #: 970 UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF TEXAS SHERMAN DIVISION SECURITIES AND EXCHANGE COMMISSION, v. Plaintiff, SETHI PETROLEUM, LLC and SAMEER P. SETHI, Defendants. Case No. 4:15-cv-338 Judge Mazzant NOTICE OF SECOND INVESTOR LETTER 1. On May 22, 2015, Marcus A. Helt, the Court-appointed Receiver (the Receiver ) for Sethi Petroleum, LLC s and Sameer P. Sethi s (collectively the Defendants ) receivership estates (together, the Estate ) in the above-captioned case (the Case ), published correspondence ( Initial Investor Letter ) to all known investors of the Defendants as of May 22, 2015 via United States first class mail [Docket No. 22]. 2. After publishing the Initial Investor Letter, the Receiver identified additional investors of the Defendants (the Additional Investors ). 3. PLEASE TAKE NOTICE that on June 5, 2015, the Receiver published correspondence ( Second Investor Letter ) to the Additional Investors via United States first class mail. 4. The Second Investor Letter is also posted to the Receiver s website at 5. A true and correct copy of the Second Investor Letter is attached to this Notice of Second Investor Letter as Exhibit A. [Signature page follows] NOTICE OF SECOND INVESTOR LETTER - Page 1

2 Case 4:15-cv ALM Document 36 Filed 06/09/15 Page 2 of 3 PageID #: 971 Dated: June 9, 2015 Respectfully submitted, By: /s/ Michael S. Haynes Michael S. Haynes (TX ) (Lead Attorney) GARDERE WYNNE SEWELL LLP 1601 Elm Street, Suite 3000 Dallas, Texas Telephone: Facsimile: mhaynes@gardere.com PROPOSED COUNSEL TO RECEIVER Certificate of Service The undersigned hereby certifies that on June 9, 2015, a true and correct copy of the Notice was served via electronic mail on counsel to the Plaintiffs and counsel to the Defendants. /s/ Michael S. Haynes Michael S. Haynes NOTICE OF SECOND INVESTOR LETTER - Page 2

3 Case 4:15-cv ALM Document 36 Filed 06/09/15 Page 3 of 3 PageID #: 972 Exhibit A Second Investor Letter Gardere v.2 NOTICE OF SECOND INVESTOR LETTER Exhibit A Cover Page

4 Case 4:15-cv ALM Document 36-1 Filed 06/09/15 Page 1 of 2 PageID #: 973 MARCUS A. HELT RECEIVER OVER SETHI PETROLEUM, LLC AND SAMEER P. SETHI June 5, 2015 Re: Securities and Exchange Commission v. Sethi Petroleum, LLC and Sameer P. Sethi United States District Court for the Eastern District of Texas Case No.: 4:15-cv-338 Dear Investor: On May 14, 2015, the Securities and Exchange Commission ( SEC ) filed a Complaint alleging that the Defendants, Sethi Petroleum, LLC and Sameer P. Sethi ( Defendants ), were violating the federal securities laws by, among other things, engaging in materially false communications with investors regarding financial contributions to the Sethi-North Dakota Drilling Fund LVIII Joint Venture ( NDDF ). On May 14, 2015, United States District Judge Mazzant entered a Temporary Restraining Order ( TRO ) that, among other things, froze all the assets of the Defendants and prohibited them from transferring, setting off, receiving, changing, selling or liquidating any of the assets of the Defendants. On the same day, I was appointed the Receiver over the Defendants and their assets. According to Judge Mazzant s order: I am entitled to possession of all property, including accounts and receivables, of the Defendants. I am responsible for investigating the Defendants business operations and the manner in which the Defendants conducted their business affairs. I may prosecute any actions for the benefit of the Defendants investors. I may defend, compromise, or settle any legal actions. I must report to Judge Mazzant when I have completed my investigation. As you may know, my objective is to locate and preserve all of the Defendants assets, with the ultimate goal of distributing value to all stakeholders. To assist me in my duties as the Court-appointed Receiver, I have employed my law firm, Gardere Wynne Sewell LLP, as my legal counsel and may engage other professionals, including, without limitation, accountants, appraisers, information technology personnel, consultants, operators and auctioneers.

5 Case 4:15-cv ALM Document 36-1 Filed 06/09/15 Page 2 of 2 PageID #: 974 We are in the process of identifying and locating the Defendants assets. If you have information that you think is helpful to us, please contact us at or by to sethireceivership@gardere.com. Also, I have set up a website located at to provide information about the case. Certain court documents are already posted on the website. At this stage of my investigation, it is premature to recommend any action or resolution to Judge Mazzant. If sufficient assets exist, I will establish a claims process in an attempt to return money to investors from the assets of the receiverships, as directed by Judge Mazzant. I appreciate your cooperation and patience during the early stages of the receivership proceedings. My team is working diligently to secure assets and recover as much value as possible. A receiver acts as an agent of the court and cannot provide legal advice to you. I encourage you to monitor the receivership website. I will submit periodic reports that summarize the status of the receivership proceedings. These reports will be available on the website along with other pertinent information. Very truly yours, Marcus A. Helt Marcus A. Helt Receiver for Sethi Petroleum, LLC and Sameer P. Sethi