- Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * SPRUCE HOUSE PARTNERS LP	2. Issuer Name and Ticker or Trading Symbol LL&E ROYALTY TRUST [ LRT ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                      __ X __ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) 110 EAST 42ND STREET, SUITE 1100	3. Date of Earliest Transaction (MM/DD/YYYY) 10/30/2009
(Street) NEW YORK, NY 10017 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Units of Beneficial Interest	10/30/2009		P		300	A	$0.6	165764   (1)	D   (1) (2) (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:
( 1)	These Units of Beneficial Interest (the "Units") are directly owned by Spruce House Partners LP and beneficially owned by its partners. Each of Messrs. Benjamin Stein and Zachary Sternberg and Spruce House Capital LLC disclaims beneficial ownership of these Units except to the extent of his or its respective pecuniary interests therein, if any.
( 2)	Each of Spruce House Partners LP ("SHP"), Spruce House Capital LLC ("SHC," and together with SHP, Benjamin Stein and Zachary Sternberg, the "Spruce House Parties"), general partner of SHP, Mr. Stein and Mr. Sternberg, each Managing Members of SHC, may be deemed to be a group (for the purpose of Rule 16a-1(a)(1) under the Exchange Act) with Robotti & Company, LLC ("Robotti & Company"), a broker-dealer registered under Section 15 of the Securities Exchange of 1934, as amended ("Exchange Act"), Robotti & Company Advisors, LLC ("Robotti & Company Advisors"), an investment adviser registered under the Investment Advisers Act of 1940, as amended,
( 3)	Due to a 1000 character limit, Footnotes 3 is a continuation of Footnote 2: Robotti & Company, Incorporated ("ROBT"), the parent holding company for Robotti & Company and Robotti & Company Advisors, The Ravenswood Investment Company, L.P. ("RIC"), Ravenswood Investments III, L.P. ("RI"), Ravenswood Management Company, L.L.C. ("RMC," and together with ROBT, Robotti & Company, Robotti & Company Advisors, RIC, RI, Robert Robotti and Kenneth R. Wasiak, the "Robotti Parties"), the general partner of RIC and RI, Mr. Robotti, President and an owner of ROBT, President of Robotti & Company and Robotti & Company Advisors and a Managing Member of RMC, and Mr. Wasiak, a Managing Member of RMC, due to a Joint Filing Agreement dated as of September 2, 2009 among such persons. Each of the Spruce House Parties disclaims beneficial ownership of any Units owned by any of the Robotti Parties.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SPRUCE HOUSE PARTNERS LP 110 EAST 42ND STREET SUITE 1100 NEW YORK, NY 10017		X
Spruce House Capital LLC 110 EAST 42ND STREET, SUITE 1100 NEW YORK, NY 10017		X

Signatures
/s/ Benjamin Stein		11/3/2009
** Signature of Reporting Person		Date
/s/ Zachary Sternberg		11/3/2009
** Signature of Reporting Person		Date
Spruce House Capital LLC		11/3/2009
** Signature of Reporting Person		Date
Spruce House Partners LP		11/3/2009
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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