[maverick one]

Be interesting imo to see what a detailed itemization is of the expenses for $360k. I imo don’t imagine or foresee the only well Highlander left after shut in - is coming back online. Turn out the lights - when you leave Ernie.

[ErnieBilco]

OK time to stop the BS - WTF are they getting $360K for administrative expenses when the POS ain't even pumping anything?

Sounds like outright theft by the trustee and it needs to be investigated for the fraud it appears to be

[maverick one]

Totally makes sense give them a year- but if you give them a year I’d likely ride it out until right before the end in 10 years and try and dump it. Right now - doesn’t look good and it’s trading over a penny. Don’t know why either...unless people are trying desperately to hold bid/ask up? With no guidance from trust their doing nada- risky biz. Really to bad too it was bad news and was paying little dividends - which if you owned a lot it was paying out. Sucks.

[ErnieBilco]

I'm one of those longs sticking it out - Doesn't make sense to dump out now, there are still 10 years left on the Trust, I can give them a year to figure out whether they will pump enough in the remaining years.

I am looking for the bottom to place one final bet - I haven't seen it yet.

[maverick one]

Highlander well was shut in March and there’s no and no future distributions 8k states. What a terrible situation for any longs that were hanging in there. No sure where that leaves shareholders with no income to distribute.

[ErnieBilco]

Unitholders of record on April 28, 2023 will receive a
cash distribution of $0.000857 per unit payable on May 12, 2023.

[maverick one]

All kinds of dumping by millions going on since PR released... smells stinky imo.,

[tchalla]

you have zero clue what an accum/distrib looks like or what it represents. clueless.

[tchalla]

the lies you tell

[TeddyCaswell]

It’s is for me w 2.5 million shares at .008 average

[maverick one]

Doesn’t mean Highlander will be restarted or any indication trustee will do. Even if they do - the PPS increase back .04 isn’t a big deal if does.

[TeddyCaswell]

This is worth more than people in this chat lead people to think. Accum/Dristbute Line through the roof.

[maverick one]

Likely not...

[ErnieBilco]

That one well is the only producer that has been paying for the divis since 2019 - all the others were already let go. So yes, one well could keep it alive if it ever pumps again.

The big question is will the Trustee bleed it dry in fees before it gets any new royalty money?

[maverick one]

Smart and likewise I hear you on that.

[maverick one]

I’m thinking it’s worthless and folks are grasping at straws thinking somehow someway it’ll go back up with just 1 well? I don’t see how that 1 alleged well would ever cover the trust, or it’s fees or checks to run it and pay shareholders divs. I think that’s a whiff on the tee box.

Smart at .001- looking out for deal and helping fam!!!!

I just don’t see this trust keeping the gutted pig afloat for only 1 well. It’ll be mildly interesting on a what if- but not really. I would imagine a lot new investors took huge haircuts when PPS derailed. I’m glad wasn’t me, LOL. Got lucky.

This is an extreme long shot and with tens of millions dumped, there’s 10’s millions of smart money who got out. There’s a reason.

Just my humble opinion and as always purely my speculation and not he taken as advice.

Hope this comes back to life some day for you and your family.

[ErnieBilco]

I'm a very conservative buyer lowered my next buy to.001, I never bet the farm on anything, just lottos and big boards across 9 accounts for my family members

[maverick one]

IMO- this is my pure speculation here, Highlander isn’t likely going to be restarted. I wouldn’t pay even .005 or anything for it. But I’ll let the others speculate and drop the cash on it- I’ll observe - but I’m not buying. I believe people are trying to day trader bud crazy as it sounds. Filling boards up with nonsense.

I’m investing into seriously better monthly dividends that I know won’t drop 65% face value for a micro quarterly div. one has to dump thousands just make a tiny amount back- now that it’s dried up on divs - imo - this could be worthless and difficult to dump. The over priced .04 crap was exactly that- crap. I saw it too. Now the crap baseline is .015 LOL? There’s suckers born every minute. If someone bought $500 at .04 slurping the kool aid and got 12,500 shares then bam blink of an eye it’s LOL .008 or .013, you can’t sell it and stuck with a huge loss of $337.50 at .013...now take $3000 get 75,000 shares and at .013 the loss would be $2,025 at .013.

LOL no thanks. Wait til the Jim Jones kool aid wears off on new suckers at alleged LOL new floor of .0175....bottom falls out.

It’s not going to be me or my cash. By all means have at it at the .005 bc imo next floor will be .0001...good luck with that.

Where is the trust PR stating Highlander will be put online, that hasn’t occurred- likely may never.

LOL .0175 really? Trading at? Hmmm me thinks there’s some very desperate folks flipping this to unsuspecting novice investors who believe everything they read on boards. There’s zero income in the trust/ why would anyone pay anything for it? Show me Wells online and div paid- you have my attention other than that- it is what it is. A dead smelly fish baking in the sun.

I suspect this will end up in the boneyards as a delisted dead shell in grey markets LOL, but hey keep on buying Ernie!!! Get after it woohoo brother. Wish you the best.

Mav

[ErnieBilco]

The price of tickets were certainly cheap enough as long as you don't bite off more than you can lose, risk reward is about 50/50 til we hear more.

Tipranks has a .0014 divi scheduled for March - whether that will be the last for now I don't know, whether they even pay it is questionable IMO.

[tomcat1690]

time will tell but im glad i added

[ErnieBilco]

OK but it went to quarterly consistently starting Jan 2019 and hasn't missed a beat since.

https://www.tipranks.com/stocks/gultu/dividends

Last year I started adding cheap big board monthly payers and although all have dropped some they all still pay their monthly divis. That is a great way to play for the future gains.

haha .005 is where my orders have been parked since the Highlander news. Now I just have to wait to find updates on their progress or liquidation of the trust.

[maverick one]

I carefully and patiently observed - the lack of consistent paid divs over years, was a major red flag for me - turns out my analysis was correct. I didn’t think it was stable enough to be able to pay like clockwork for many years every quarter.

It was tempting - the PPS- but I suspected as well the .03-.04 was way over priced. I was spot on correct. Crazy as that sounds - gut feeling as well.

Your def sitting well with free shares but a new investor looks at this differently. Why not instead plow $ into a monthly dividend that pays .10 either quarterly or monthly that trades from $3-6...make more money and it’s not going to do what this did- stop paying with snap of a finger. Leaving potential shareholders with a major 65- 75% loss, had they dropped in entry at .04? Plus no divs?

It had some potential - but the trust isn’t perpetual in nature, however, the lack of forthcoming information on what comes next in regards to this so called Highlander onshore well/ there’s zero guarantees this trust will do anything with that.

We don’t know if subin was doing all that dumping and many many others it’s a major red flag - if any filings come out in the future produce that knowledge then it’ll shine a light. But one thing is for sure/ lot of major holders of this likely did.

There’s likely quite a few newer investors from the last 1 year or so, found this, held it, and imo just lost their butts on this, and speculated and just lost a ton of investment money that gambled and stumbled onto this.

They were attracted to the low PPS and the divs were restarted- without looking at underlying factors. Pretty sad what occurred to those that invested and gambled. Because there’s no way those divs equal what they paid at a higher pps.

I don’t see this as a positive either with recent speculative trading range over .01 to .014-0.15 is even close to what’s it’s worth. Imo- this is sub Penny and we’re talking .005 likely imo. How did buying at .04 now being forced to sell hair over a Penny was a great deal for new shareholders?

Just my 2 cents. Mav.

[maverick one]

Or it’s possible subin knows something we do not and he’s out.

[maverick one]

It’s iffy they’ll even get Highlander back on likely...they just let all those wells go don’t know they’d pin everything on just 1 onshore with issues.

Always a big thanks Ernie.

[ErnieBilco]

No doubt it was panic selling along with Subin most likely a large part of that carnage, it seems stabilized for now. I searched for more info on the well situation but haven't found anything other than the 8K announcing the problem.

There is never 100% certainty on anything stock related. I've been in this since inception and will stay until they announce they are liquidating the trust which I doubt they will do as long as the trustee can continue to cash their fees.

The Highlander well may be redrilled if they can't fix the water issue. Highlander is onshore.

Everything I ever post is my opinion based on my personal experience or research and nobody should follow blindly. I like the odds from here that's all

[maverick one]

Over 30 million + shares were dumped when it dipped under a Penny, just this month. Then there were several single trading days after, that were numerous millions. That looks like panic selling - no way else to explain it. Massive dump on a massive level.

How do you know with 100% certainty the divs will be once again distributed and how do you know this Highlander will be started? What is Highlander, onshore or offshore?

Or is this from long time investing here and it’s 100% speculating that you think in your opinion it will? Like where’s the facts evidence, that points to a potential new investor, that what your saying is in fact ironclad, and will occur?

Thanks Ernie in advance appreciate your input.

[maverick one]

Good news. Hey when is Highlander going back online and what will be a potential type of quarterly div once it starts? Many thanks. I agree / buy under a Penny no doubt.

[ErnieBilco]

Divis will come back 1 quarter after Highlander restarts pumping oil, when that is I don't know. But I'm looking for any opportunity to add under a penny for now.

[maverick one]

What are thoughts on possibilities of restart in divs later?

[ErnieBilco]

I started getting divis, although small, starting in Oct 2017 and every quarter since then up until this latest news on Highlander problems

[maverick one]

So is it just me, or this person saw writing on wall and getting rid of it? I suspect more dumping volume ahead - and eventually sub zero. No reason to acquire if no div. I saw not much of a track record for divs and thought too good to be true. History of mcmoran and wells.

It’s too bad - bc looked promising at that sub .05 range..

[ErnieBilco]

Subin has been selling but he is restricted to a percentage of volume on any given day. He has been trimming out for some time now.

[maverick one]

It’s a gamble if they’ll distribute divs again - let alone the trust stays in biz.

[maverick one]

So basically it boils down is mcmoran let the lease and everything go and only one that MIGHT be left is highlander? Looks like this is the last dividend that will be distributed - likely trust will be liquidated...why keep it around?

Why would subin be just joining on here recently if mcmoran shutting it down? Doesn’t make sense- unless shell might be being merged or taken over.

[maverick one]

So basically it boils down is mcmoran let the lease and everything go and only one that MIGHT be left is highlander?

[ErnieBilco]

We just need to wait to see what the plan is with Highlander but for now buying 00 is a gamble for me so I'm gonna watch to see where it settles and hopefully news will be coming sooner rather than later.

[tomcat1690]

yea i have owned it for quite some time and received divi's along the way also. i added a bunch yesterday and down some in it

[ErnieBilco]

Depending on when Highlander is put back in service it is a real possibility that the Trustee could wind down and liquidate the trust account. I don't know how long they will wait for royalties to restart. That is my only concern as I've owned it long enough that all my shares are freebies at this point. The Trust ends in 2033 unless liquidated sooner.

On the surface it looks like it is getting close to gambling time on more units at my selected entry point.

[tomcat1690]

i they should not be able to list them as assets on the nov 10q. But the SEC doesn't care about individual investors

[ErnieBilco]

The line that says it all as clearly as anyone should be able to comprehend.

McMoRan has informed the Trustee that it has no plans to pursue, has relinquished, or has allowed to expire all subject interests except for the onshore Highlander subject interest

From 10Q release on 5-12-17

There that didn't take long at all.

[ErnieBilco]

June 30, 2016 . An impairment charge of $89.5 million ,representing the carrying value associated with the offshore England and onshore Tortuga subject interests, was recorded for the six-month periodended June 30, 2015 ( $83.4 million of which was recorded for the three-month period ended June 30, 2015 ). At that time McMoRan informed theTrustee that it did not plan to drill or conduct operational activities on these subject interests prior to their lease expiration dates

[ErnieBilco]

Tortuga -
March 31,2015 , the Royalty Trust recorded an impairment charge of $6.1 million resulting from certain lease expirations related to the onshore Tortugasubject interest.

[ErnieBilco]

It changed years ago as one by one they purged them out of the trust.

Again look at the date June 2013 - these were founding documents shown as an exibit.

I'll comb thru the filings tonight and post the purge, I know it was years ago.

[tomcat1690]

i would think if it had changed they would have had to put it in the last 10q.

[tomcat1690]

and this was in the 10Q from sept of 22 Subject Interest Name

 McMoRan's Estimated
 Working
Interest

Operator

Royalty Trust's Estimated
 Overriding
Royalty Interests
(5% proportionately
reduced to reflect
the Estimated
Working Interest)
 
Davy Jones

63.4%

McMoRan

3.17%
Blackbeard East

72%

McMoRan

3.6%
Lafitte (a)

—

McMoRan

—
Blackbeard West

69.4%

McMoRan

3.47%
England

36%

Chevron

1.8%
Barbosa

72%

McMoRan

3.6%
Morgan (b)

—

McMoRan

—
Barataria

72%

McMoRan

3.6%
Blackbeard West #3

69.4%

McMoRan

3.47%
Drake

72%

McMoRan

3.6%
Davy Jones West

36%

McMoRan

1.8%
Hurricane

72%

McMoRan

3.6%
Hook

72%

McMoRan

3.6%
Captain Blood

72%

McMoRan

3.6%
Bonnet

72%

McMoRan

3.6%
Queen Anne's Revenge

72%

McMoRan

3.6%
Calico Jack

36%

McMoRan

1.8%
Highlander

72%

McMoRan

3.6%
Lineham Creek

36%

Chevron

1.8%
Tortuga

72%

McMoRan

3.6%

[tomcat1690]

this was the 5th of this year https://www.otcmarkets.com/filing/html?id=16370174&guid=uU7-knejEdJ2dth

[ErnieBilco]

That information is sooooo out of date - from todays 8K

Highlander subject interest is the only prospect in which the Trust has an overriding royalty interest that has established commercial production

2013 info from when the stock was trading above $3.00 means nothing in 2023

[tomcat1690]

https://content.edgar-online.com/ExternalLink/EDGAR/0001565146-13-000012.html?hash=3e9471d8030f7da3ac73ebedfea0fbe0e5fff44d0ace2e6d66cf0a5988cb580a&dest=exhibit312q13_htm#exhibit312q13_htm