July 2026 Hangar Talk

July 2026 Hangar Talk

In the July 2026 Hangar Talk, Tait Duryea and the Turbine Capital team share updates across Iron Horse, Waypoint, the Secured Income Fund, and other active investments. They explain why oil and gas revenue may accrue before distributions arrive, review newly acquired well packages, and discuss current commodity prices and production expectations.  The team also previews opportunities in multifamily housing, senior living, venture capital, and SDIRA-compatible investments, along with details for the upcoming annual shareholder event in Cañon City.  They discuss: (00:00) Annual shareholder event preview (03:34) Iron Horse distribution update (04:44) Producing wells and accrued revenue (06:42) Waypoint oil and gas update (07:16) Oil prices and deal flow (10:08) Comstock natural gas wells (12:47) Production performance and projections (17:33) Secured Income Fund distribution (19:23) Multifamily and senior living outlook (21:43) Stealth Point and upcoming deals Links & Resources: Annual Shareholder Event Registration: https://luma.com/jgvanmyx [https://luma.com/jgvanmyx] St. Cloud Hotel Room Block: https://us2.cloudbeds.com/en/reservation/yI8oBi/?currency=usd [https://us2.cloudbeds.com/en/reservation/yI8oBi/?currency=usd] Hotel allotment code: b732857 If you have any questions, please feel free to email investors@turbinecap.com. Learn more about Turbine Capital: Website: https://www.turbinecap.com [https://www.turbinecap.com/] Facebook: https://www.facebook.com/turbinecap [https://www.facebook.com/turbinecap] Instagram: https://instagram.com/turbinecapital [https://instagram.com/turbinecapital] The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Office Hours | Private Credit, Energy, and Tax Strategy

Tait Duryea sits down with John Yost, Mark Fleming, TJ Johnson, and Noelle Vinson for a June Office Hours discussion on where investors may find opportunity in a volatile market.  They cover interest rates, inflation pressure, commercial real estate challenges, mobile home parks, senior living, 1031 exchange options, DSTs, and the “lazy man’s 1031” strategy. The conversation also explores Waypoint Energy updates, private credit liquidity, StealthPoint Fund 2, and how pilots can think about risk, volatility, tax benefits, and portfolio diversification. They discuss: (00:00) AI in oil and gas (05:33) Real estate pipeline updates (06:36) Interest rates and inflation (10:15) 1031 exchange opportunities (12:19) DSTs explained simply (14:23) Lazy man’s 1031 (15:32) Waypoint Energy updates (22:06) Opportunity Zone outlook (27:19) Private credit strategy (30:17) StealthPoint Fund 2 If you have any questions, please feel free to email investors@turbinecap.com. Learn more about Turbine Capital: Website: https://www.turbinecap.com [https://www.turbinecap.com/] Facebook: https://www.facebook.com/turbinecap [https://www.facebook.com/turbinecap] Instagram: https://instagram.com/turbinecapital [https://instagram.com/turbinecapital] The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

June 2026 Hangar Talk

Tait Duryea sits down with Aditya Ravi of Rystad Energy to discuss how tensions around Iran and the Strait of Hormuz could impact oil prices, global supply, airline economics, and energy investors. They cover OPEC production, strategic reserves, demand destruction, recession risk, and what different pricing scenarios could mean for the 2026 oil and gas fund. Aditya Ravi is an upstream oil and gas analyst at Rystad Energy with more than 15 years of experience in global energy markets. With a background in petroleum engineering and economics, he brings data-driven insight into oil supply, pricing, and geopolitical risk. They discuss: (0:00) Aditya Ravi’s energy background (3:26) Iran and oil futures (6:24) Global oil demand context (9:14) Strait of Hormuz risks (12:39) Well shut-in damage (16:00) Lower oil price scenarios (19:02) Drilling response and oversupply (22:48) Worst-case supply disruption (25:29) Recession and SPR refilling  Links & Resources: * Aditya Ravi’s LinkedIn: https://www.linkedin.com/in/aditya-ravi-39a49737 [https://www.linkedin.com/in/aditya-ravi-39a49737]  If you have any questions, please feel free to email investors@turbinecap.com. Learn more about Turbine Capital: Website: https://www.turbinecap.com [https://www.turbinecap.com/] Facebook: https://www.facebook.com/turbinecap [https://www.facebook.com/turbinecap] Instagram: https://instagram.com/turbinecapital [https://instagram.com/turbinecapital] The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Waypoint Energy Series | Q&A Forum

Tait Duryea hosts the final Waypoint Energy Live session with Mark and Brittany to answer investor questions before the 10% share price discount deadline. The discussion covers current oil and gas deal flow, expected drilling and completion timelines, projected distribution ramp-up, IDC tax benefits, GP versus LP elections, K-1 timing, portfolio diversification, contingency reserves, and how the fund may eventually exit mature well interests.  This conversation gives pilots and high-income professionals a practical look at the mechanics behind Waypoint Energy 2026 and what investors should understand before completing their subscription documents. They discuss: * (0:00) Final Waypoint Energy Q&A * (1:22) Current deal flow update * (2:45) Drilling and production timeline * (5:01) Private equity and competition * (10:24) Fund exit strategy explained * (18:35) Discount deadline and funding rules * (19:50) K-1 timing and tax reporting * (24:04) Operator CapEx and reserves * (30:02) Subscription agreement walkthrough Links & Resources: * Turbine Capital Events Calendar: https://www.turbinecap.com/calendar [https://www.turbinecap.com/calendar] * Waypoint Energy Deal Room: https://www.turbinecap.com/waypointenergy [https://www.turbinecap.com/waypointenergy] * Investor questions, KYC, subscription documents, or accreditation support: investors@turbinecap.com Turbine Capital Private Podcast: Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d [https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d]Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026 [https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026] If you have any questions, please feel free to email investors@turbinecap.com. Learn more about Turbine Capital: Website: https://www.turbinecap.com [https://www.turbinecap.com/] Facebook: https://www.facebook.com/turbinecap [https://www.facebook.com/turbinecap] Instagram: https://instagram.com/turbinecapital [https://instagram.com/turbinecapital] The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Waypoint Energy Series | Tax Webinar

Tiffany Kennedy of A Strong CPA joins Tait Duryea to clarify how the Waypoint Energy Fund’s tax benefits may apply to high-income investors. They discuss IRC 263-C, IDC deductions, K-1 reporting, GP versus LP treatment, AMT, depletion, state filing considerations, self-employment tax, and potential recapture at exit.  This webinar gives investors a practical look at how oil and gas working interests can create powerful tax advantages while still requiring careful planning with a qualified CPA. Tiffany Kennedy is a Managing Director at A Strong CPA with more than 30 years of public accounting experience and deep exposure to oil and gas taxation. Based in Houston, she helps individuals, partnerships, and businesses navigate complex tax planning, K-1 reporting, bookkeeping, and accounting strategy.  They discuss: (0:00) IRC 263-C and IDC deductions (3:25) Meet Tiffany Kennedy (5:58) Where CPAs should look (7:28) Depletion benefits on distributions (9:01) Last year’s K-1 example (13:23) W-2 and retirement income (19:37) AMT and IDC deductions (26:46) Multi-state tax filing (29:31) GP to LP tax treatment (39:38) Recapture and exit strategy Links & Resources: * Turbine Capital Events Calendar: https://www.turbinecap.com/calendar [https://www.turbinecap.com/calendar] * Waypoint Energy Deal Room: https://www.turbinecap.com/waypointenergy [https://www.turbinecap.com/waypointenergy] * Investor questions, KYC, subscription documents, or accreditation support: investors@turbinecap.com Turbine Capital Private Podcast: Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d [https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d]Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026 [https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026] If you have any questions, please feel free to email investors@turbinecap.com. Learn more about Turbine Capital: Website: https://www.turbinecap.com [https://www.turbinecap.com/] Facebook: https://www.facebook.com/turbinecap [https://www.facebook.com/turbinecap] Instagram: https://instagram.com/turbinecapital [https://instagram.com/turbinecapital] The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.