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Unitholders of record on April 30, 2019 will receive a cash distribution of $0.001139 per unit payable on May 14, 2019
They are already paying dividends on this so someone is drilling somewhere to pay the royalties. The trust matures in 2033 so there is lots and lots of upside should oil rise.
I just stumbled across this... this is an interesting stock. The problem with it is that the chances of them ever drilling for these oil deposits are slim, seeing as they are so deep. I have a link below that seems promising... but you must remember this was back in 2014 when oil was 100/ barrel.
http://buysidenotes.com/2014/04/10/gulf-coast-ultra-deep-royalty-trust-gultu-a-very-special-situation/
How many 3 cent penny stocks pay a dividend? This should be be over .50 but there just aren't any buyers. Oil needs to get back over $75 before this starts really moving.
I'm curious to see if this breaks .03
8K, Ex-99.1.2
"Gulf Coast Ultra Deep Royalty Trust
The Bank of New York Mellon Trust Company, N.A., Trustee News Release
Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution
AUSTIN, Texas - October 16, 2017 - Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) (the Trust) announced today that it will distribute to unitholders a cash distribution totaling $149,155 for the quarter ended September 30, 2017.
Unitholders of record on October 30, 2017 will receive a cash distribution of $0.000648 per unit payable on November 13, 2017.
Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended September 30, 2017 are set forth in the table below:
Natural gas (Mcf) sales volumes (a) 135,794
Natural gas (per Mcf) average sales price $2.93
Gross proceeds $ 397,699
Post-production costs and specified taxes $(42,639)
Royalty income $355,060
Interest and dividend income $ 648
Administrative expenses $(167,120)
Royalty income in excess of administrative expenses $188,588
Increase to minimum cash reserve $(39,433)
Net cash proceeds available for distribution $ 149,155
(a) Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production."
Note: This is the first quarterly cash distribution since GULTU's inception.
GULTU is on a tear this month. From .025 to .139 and climbing.
Earliest they can buy back is 2018 if I read it right, and even then the bargain basement pps is .25 a unit. That's 150% for waiting it out. I think even the camel jockeys are tired of pumping cheap oil.
Agggrrr so frustrating! Damn it..might be a long ass hold till this pos recovers but they probably are the ones who can do it
Hopefully this makes it out into higher oil and gas prices
Arrrrrrrrrrrrrrrrgggggg - My kid's GTC order went off today and bought shares. Well he got them a hell of a lot cheaper than when I first bought.
It was a mis-read on my part and trying to use memory at the same time.
It cannot be bought back until after June 3, 2018 at the earliest. After that date IF it trades below a quarter for 9 months they can buy back for a quarter. They would also be able to buy shares back at $10 per share if they so chose.
What was all that talk about buying it back for a penny!
I have a small position but looking like a sure think for a Quarter!
Re-read the call option and now see why Miller is accumulating shares. They cannot buy any units back until June 3rd 2018 and then it can buy at $10 or .25 if it stays at or under .25 for NINE MONTHS not 90 days.
Nice to see a strong day here on GULTU - Miller is now holding 15% of the trust units. Could this be heading back above a quarter?
A penny if it stays under .25 for 90 days in a row.... they are not required to buy them back but they could or it may not be able to do anything til 2018 - been so long since I read the conditions.
Very interesting indeed...intriguing shpuld I call him and ask why...doesnt the trust have the right to buy back now at $.25 cents on all units?
He own's lots of shares in many different accounts. Just bought 43K @ .13 yesterday. Add em up
Common
Stock
12/16/2015
P
43118
A $0.13
22472882
(1) I
By
Milfam
II
L.P.
Common
Stock
4496353
(1) I
By
Trust
A-4
-
Lloyd
I.
Miller
Common
Stock
262346
(1) I
By
Lloyd
I.
Miller,
III,
CoTrustee
GST
Lloyd
A.
Crider
Common
Stock
184073
(1) I
By
Lloyd
I.
Miller,
III,
Trustee
GST
Catherine
C.
Miller
Common
Stock
3348353
D
Common
Stock
231537
(1) I
By
Milfam
LLC
Common
Stock
1517596
(1) I
By
Milfam
I
L.P.
How much did he buy recently and how much total does he have do u remember?? I think it continues to slide jmo
So strange, Miller continues to buy.
Miller must know something..why dump good money into bad here? RCAP flew today...just missed that puppy..should of would of could of..my story
Ya got that right. There's always just a small window for us non-wall streeters to make money on these BUILT TO FAIL crappers.
Wonder why Miller is accummulating while Copperman exits.
What a POS this turned into, this is going in the junk file and hopefully get a tax loss on 2015..dont see it turning out any better..
They will grab the units at $.01
We should of been short here instead
Well the clock is now ticking - if this stays under a quarter for 90 days they can take all the units back at a penny.
Scary times here hangin with Cooperman and Miller, scary indeed.
Is the royalty on the producing gas 5% or 3.6%. I see it a 5% in the intro on this site, and 3.6% on the Freeport-McMoRan site.
The bleeding continues - the magic number is .25 - if it hits .25 and stays there for 90 days ITS ALL OVER.
At some point me and Leon are gonna have to avg down but damn - at what price?
I bet Leon Cooperman is saying the same thing. So much for the insight of a billionaire and his hedge fund.
I am almost afraid to buy any at this price. jmo
Trying to find the bottom on this one - I thought it was $1.25
Then I thought it was 90
Then I thought it wouldn't break below .75
Then I said .60 was gonna be bottom
Then I said .45 was bottom
But this dang thing just wants to continually prove me wrong.
LOL! I think you may be right. Who knows? I always want to spell Bush's name like the beer?
Mt Kellet had been merciless in their selling - today looks like the 1st chance its had to catch it breath, but I fear more dumping is coming.
Will she bounce back though? I say yes.
It is hard to watch a hedge fund kill this trust single-handedly.
Well I got my answer? Mount Kellett Capital Management LP
I sure hope they are done
This is a corrupt scam company.
These people should be in the jail.
JMO
I need a real break and reset to the upside to really get excited at this point.
Huge upside is what I think he sees. I guarantee you that his DD and analysis is much better than mine and I love this trust at these prices, which I had more coin to throw at it.
It seems to me that people see the non-renewal of some leases as a negative but I see it as brilliant while the crude war continues, expert trustee I believe. Why pay for leases when there is no way to make money on what you may or may not pull from the ground. I think they are now leaning more towards the nat gas prospects and put oil on the back burner.
But what do I know?
What does Cooperman see here that investors are not seeing, any thoughts?
He will help to boost pps, but even he cannot fight a strong drop in WTI prices. He is buying with a very long time horizon in mind, his is much longer than mine and he has money to burn. As for me , I must wait for it.
Got my eye on it :)
You are correct, Cooperman is buying. He knows value when he sees it.
ill be buyin to
Freeport-McMoRan Announces 75MMcf/day Successful Production Test Prior to Placing Highlander Well on Production
PHOENIX, Feb 20, 2015 (BUSINESS WIRE) -- Freeport-McMoRan Inc. (NYSE: FCX) announced today the results of additional production testing on Freeport-McMoRan Oil & Gas's (FM O&G) Highlander discovery, located onshore in South Louisiana in the Inboard Lower Tertiary/Cretaceous trend. The production test, which was performed in the Cretaceous/Tuscaloosa section, utilized expanded testing equipment and indicated a flow rate of approximately 75 million cubic feet of natural gas per day (MMcf/d), approximately 37 MMcf/d net to FM O&G, on a 42/64th choke with flowing tubing pressure of 10,300 pounds per square inch. FM O&G expects to immediately commence production using FM O&G facilities in the immediate area. FM O&G plans to install additional amine processing facilities to accommodate the higher rates.
As previously reported, the Highlander discovery well was drilled to a total depth of approximately 29,400 feet in first-quarter 2014. Wireline log and core data obtained from the Wilcox and Cretaceous sand packages indicated favorable reservoir characteristics with approximately 150 feet of net pay. In December 2014, FM O&G tested the well at a rate of approximately 43.5 MMcf/d on a 22/64th choke with flowing tubing pressure of 11,880 pounds per square inch. A second well has been identified and future plans are being evaluated in this high potential area. FM O&G has identified multiple prospects in the Highlander area where it controls rights to more than 50,000 gross acres.
James R. Moffett, Chairman of the Board; Richard C. Adkerson, Vice Chairman, and FCX President and Chief Executive Officer; and James C. Flores, Vice Chairman, and FM O&G President and Chief Executive Officer, said, "This additional test data confirms the highly favorable reservoir characteristics of this discovery. We look forward to immediately establishing commercial production from this important discovery."
FM O&G is operator of the Highlander well and holds a 72.0 percent working interest and an approximate 49 percent net revenue interest. Other working interest owners include Energy XXI LTD (Nasdaq: EXXI) (18.0%) and W. A. "Tex" Moncrief Jr. (10.0%). The Gulf Coast Ultra Deep Royalty Trust (Nasdaq: GULTU) holds a 3.6 percent overriding royalty interest in the Highlander area.
FCX is a premier U.S.-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and gas resources and a growing production profile. FCX is the world's largest publicly traded copper producer.
FCX's portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; significant mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America; the Tenke Fungurume minerals district in the Democratic Republic of Congo; and significant oil and natural gas assets in North America, including reserves in the Deepwater Gulf of Mexico (GOM), onshore and offshore California and in the Haynesville natural gas shale play, and an industry-leading position in the emerging shallow water Inboard Lower Tertiary/Cretaceous natural gas trend on the Shelf of the GOM and onshore in South Louisiana. Additional information about FCX is available on FCX's website at "www.fcx.com."
We have big money behind this one
http://data.cnbc.com/quotes/GULTU/tab/8
The DOE authorized LNG exports of up to 10.52 Bcf/day. That’s 3.84Tcf/year. That’s way more than I expected. Once LNG exports start later this year it should start to put more upward pressure on NG prices. No wonder Cooperman and Paulson are loading up.
“..the DOE has conditionally authorized the export of 10.52 Bcf/d for a period of 20 years from the U.S.”
http://energyinterdependencyblog.com/the-future-of-liquefied-natural-gas-lng-exports-under-the-department-of-energys-revised-review-process/
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