Cypress Energy Capital Management, LP : Cypress Energy, LP

Summary

Cypress Energy, LP (the Fund) is a Houston-based discretionary energy commodity hedge fund launched in July 2008 and continuously managed by Paul A. Lewis. The Fund utilizes fundamental analysis to primarily trade U.S. natural gas derivatives listed on regulated commodity exchanges. Modern risk management techniques are applied to quantify and control portfolio risk. Investing in the Fund is solely for Qualified Eligible Persons, involves a substantial risk of loss and is not suitable for all investors. www.cypressenergylp.com

Investment Strategy

The Fund’s investment objective is to seek consistent superior long-term absolute returns through discretionary positions in energy derivatives listed on regulated commodity exchanges. The Fund analyzes fundamentals within the energy sector as they relate to current and future supply and demand in order to detect and exploit outright and relative commodity mispricing. The Fund utilizes financially settled futures, swaps and options cleared through major clearinghouses to implement its strategy. No assurance can be given, however, that the Fund will achieve its objective, and investment results may vary substantially from period to period.

Risk Management

The Fund takes no over-the-counter counterparty credit risk and does not take physical delivery of energy commodities. The Fund relies on the experience and knowlege of the investment management team to optimize the risk/reward profile of the portfolio.