NATURAL RESOURCE PARTNERS LP — Director's Dealing 2007

Nov 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATURAL RESOURCE PARTNERS LP (NRP)
CIK: 0001171486
Period of Report: 2007-11-14

Reporting Person: WESTERN POCAHONTAS CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-14	Common Units	M	5231764	—	Acquired	17276860	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-14	Subordinated Units	$	M	5231764	Disposed		Common Units (5231764)	Indirect

Footnotes

F1: As set forth in the partnership agreement, the remaining original subordinated units outstanding on November 14, 2007, converted to common units on that date. In connection with the conversion, 5,231,764 subordinated units held by Western Pocahontas Properties Limited Partnership were converted.

F2: These units are beneficially owned by Western Pocahontas Properties Limited Partnership, of which Western Pocahontas Corporation is its general partner.