NATURAL RESOURCE PARTNERS LP — Director's Dealing 2007

Feb 14, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATURAL RESOURCE PARTNERS LP (NRP)
CIK: 0001171486
Period of Report: 2007-02-13

Reporting Person: HOGAN WYATT L (VP and General Counsel)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-13	Phantom Units	$	A	3400	Acquired	2011-02-13	Common Units (3400)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Units	$	2010-02-13	Common Units (2900)	2900	Direct
Phantom Units	$	2009-02-14	Common Units (2900)	2900	Direct
Phantom Units	$	2008-02-11	Common Units (2600)	2600	Direct
Phantom Units	$	2007-05-12	Common Units (2426)	2426	Direct

Footnotes

F1: The phantom units were granted to the reporting person under the issuer?s long-term incentive plan.

F2: The phantom units will be paid in cash based on the average closing price of the common units for the 20 trading days immediately prior to the date of vesting.