SEC Form 4

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

1. Name and Address of Reporting Person* OLIVER ERIC L (Last) (First) (Middle) 400 PINE STREET SUITE 1010 (Street) ABILENE TX 79601 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol SANTA FE ENERGY TRUST [ SFF ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) X Other (specify below) See Remarks below
	3. Date of Earliest Transaction (Month/Day/Year) 07/25/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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
Trust Units(1)	07/25/2007		P		200	A	$24.4	464,737	I	See Footnote(2)
Trust Units(1)	07/25/2007		P		200	A	$24.59	464,937	I	See Footnote(2)
Trust Units(1)	07/25/2007		P		100	A	$24.6	465,037	I	See Footnote(2)
Trust Units(1)	07/25/2007		P		200	A	$24.61	465,237	I	See Footnote(2)
Trust Units(1)	07/25/2007		P		800	A	$24.64	466,037	I	See Footnote(2)
Trust Units(1)	07/25/2007		P		200	A	$24.66	466,237	I	See Footnote(2)
Trust Units(1)	07/25/2007		P		300	A	$24.75	466,537	I	See Footnote(2)
Trust Units(1)								139,500	I	See Footnote(3)
Trust Units(1)								80,211	D(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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

1. Name and Address of Reporting Person* OLIVER ERIC L (Last) (First) (Middle) 400 PINE STREET SUITE 1010 (Street) ABILENE TX 79601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) See Remarks below

1. Name and Address of Reporting Person* Debeck, LLC (Last) (First) (Middle) 400 PINE STREET SUITE 1010 (Street) ABILENE TX 79601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) See Remarks below

1. Name and Address of Reporting Person* SoftVest Management, LP (Last) (First) (Middle) 400 PINE STREET SUITE 1010 (Street) ABILENE TX 79601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) See Remarks below

1. Name and Address of Reporting Person* SoftVest, LP (Last) (First) (Middle) 400 PINE STREET SUITE 1010 (Street) ABILENE TX 79601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) See Remarks below

Explanation of Responses:

1. The reported securities are included within Depositary Units, Evidenced by Secure Principal Energy Receipts ("Depositary Units") purchased by the reporting persons. Each Depositary Unit consists of a beneficial interest in a Trust Unit and a 1/50th interest in a discrete Treasury Obligation in a face amount of $1,000.

2. These Trust Units are owned directly by SoftVest, LP, which has as its sole general partner SoftVest Management, LP, which has as its sole general partner Debeck, LLC, which has Eric L. Oliver as its sole member. SoftVest Management, LP, Debeck, LLC, and Eric L. Oliver each disclaim beneficial ownership of the securities within Section 16 of the Securities Exchange Act except to the extent of each person or entity's respective pecuniary interest therein.

3. These Trust Units are held directly by Amen Minerals, LP, which has as its sole general partner Amen Properties, Inc., for which Eric L. Oliver and Jon M. Morgan are controlling persons. Amen Properties, Inc., Eric L. Oliver and Jon M. Morgan each disclaim beneficial ownership of the securities within Section 16 of the Securities Exchange Act except to the extent of each person or entity's respective pecuniary interest therein.

4. These Trust Units are owned directly by Jon M. Morgan.

Remarks:

Eric L. Oliver, Debeck, LLC, SoftVest Management, LP, and SoftVest, LP are members of a 13(g) group that became a 10% beneficial owner of Depositary Units on July 9, 2007. The group consists of Eric Oliver, Debeck, LLC, SoftVest Management, LP, SoftVest, LP, Amen Properties, Inc., Amen Minerals, LP, and Jon M. Morgan.

	/s/ Eric L. Oliver	07/27/2007
	/s/ Eric L. Oliver, as sole member of Debeck, LLC	07/27/2007
	/s/ Eric L. Oliver, as sole member of the parent of SoftVest Management, LP	07/27/2007
	/s/ Eric L. Oliver, as sole member of SoftVest, LP's ultimate parent	07/27/2007
	** Signature of Reporting Person	Date
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