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How about this one? I must have had this one for 10 years.
http://www.enerplus.com/investor_information/cash_distributions/erf_2001_current_us.shtml
question >>> 'is this a dividend or interest'
answer from yahoo shows how complex this security is >>>
'Neither. It is more complicated than that. Have to read the tax booklet to understand. There is part OID interest, part proceeds (ie. return of capital), plus other hedging income and some expenses. But it is not dividend and not royalty. This is one of the more tricky trusts to deal with tax-wise (WHX is similar).
bankroll, u may have no complaints <<<yet>>> but ur cpa may. this is the sort of entity that can perhaps trigger an irs audit
its an old geezer pre-derivative-collapse stock >>> bet 99.8% of shareholders have no feeling for the level of risk that may or may not come with mvos oil hedging. 90% have no idea this trust terminates in about 15 years
this <<<could>>> be a great investment. but unless you studied the 10k and ipo documents and did 'what if' scenarios in excel and have a degree in math from mit >>> then you really cant say. in any event a sudden sharp turn in oil pricing could cut into the payout
mvo certainly tanked sharply a year ago. this isnt a CD!
I'm only getting 12.4%. Shares are up $8.00 as a bonus. As long as there are no major changes..... With each dividend payment it reduces my cost basis and increases my yield. No complaints here......
That's why you read the 10k.
I also had someone in the business provide some info on this one. He is familiar with the fields where the wells are and knows the reputations of the principles.
If you are leery of it you shouldn't buy into it.
'Oil trusts are pretty common and have been around for a long time.'
yes and a standard scam category for a long time >>> like uranium mines (or diamonds) and raising chinchillas
If I was going to own it for a long time I would worry about it but I'm not. Oil trusts are pretty common and have been around for a long time.
determining the termination date isnt easy. makes me wonder what else is lurking in that complex filing. mvo will be steadily less valuable as time goes by >>> trust termination approaches and there will be less oil in the ground. double whammy.
looks like a 'made for old geezers product.' overly complex with goodies up front and 'bad stuff' down the way. some ivy league mbas got paid well to create this
what about ongoing fees? there are ALWAYS fees >>> layer after layer of them. starting with those banks and trust companies
So I will sell out in a couple of years. I didn't know when the termination date was but it is a long way off and I will have moved on to other things long before that.
why dont u mention the termination? mvo is an incredibly complex entity. i had to go to the yahoo board to get a handle on mvo. even the 10k didnt help much
nothing like some wealthy elderly cpas debating an investment on yahoo to get to the core
u shouldnt be talking up the big div without mentioning mvo's shortcomings
'Trust terminates upon pumping 14.4 million barrels or 2026, whichever occurs LAST !! It's conceivable that MV Partners could reach 14.4 million barrels in 2020 and continue pumping and paying the trust for 6 more years. Highly unlikely but possible. If MV Partners has not pumped 14.4 million barrels by 2026 then the they continue pumping and paying the trust until they reach this milestone, regardless of how long it takes. Unfortunately, at low production levels, expenses would probably eat up any profit.'
I am not suggesting that you or anyone else buy MVO. This isn't a penny stock and I don't need to pump it to enhance my investment.
So far, since I have bought it, it has given me a 40% return on my investment which is more than I had expected. Any investement that gives me 15% is good enough to make the grade for me. If things change and I don't think the price of oil will continue to go up I will probably sell it. I don't expect that to happen in the near future.
Except that they are continuing to drill new wells.
Nothing like drawing money out of a bank account unless you are comparing it to drawing interest off the bank account and leaving the principle alone. Yes, eventually all the wells will run dry but I don't plan to live that long.
MV Oil Trust is a statutory trust, which was formed on August 3, 2006, by MV Partners, LLC ('MV Partners'). The business and affairs of the trust are managed by The Bank of New York Mellon Trust Company, N.A., as trustee. In addition, Wilmington Trust Company acts as the Delaware trustee of the trust.
The Trust was created to acquire and hold a term net profits interest for the benefit of the Trust unitholders under a conveyance from MV Partners to the Trust. The term net profits interest is an interest in underlying properties consisting of MV Partner's net interests in all of its oil and natural gas properties located in the Mid-Continent region in the states of Kansas and Colorado (the ‘underlying properties’). These oil and gas properties include 1,004 producing oil and gas wells.
Approximately 62% of the net acres included in the underlying properties are located in the El Dorado Area, which is located in southeastern Kansas, and in the Northwest Kansas Area. The properties comprising the underlying properties are all located in mature fields that are characterized by long production histories.
The properties provide continual workover and developmental opportunities which MV Partners has pursued to reduce the natural decline in production from the underlying properties. The properties comprising the underlying properties located in the El Dorado Area are operated on behalf of MV Partners by Vess Oil and are located in the El Dorado, Augusta and the Valley Center Fields. Each of Vess Oil and Murfin Drilling operate leases on behalf of MV Partners included in the properties comprising the underlying properties that are located in the Northwest Kansas Area.
MV Partners competes with major oil and natural gas companies and independent oil and natural gas companies for oil and natural gas, equipment, personnel and markets for the sale of oil and natural gas. Many of these competitors are financially stronger than it. The operations of the properties comprising the underlying properties are subject to federal, state and local laws and regulations governing environmental protection as well as the discharge of materials into the environment.
isnt mvo like putting money in the bank and taking out 15% each year. u can brag about the fat return but eventually the bank account runs dry. doesnt the trust have a finite life? upside would be a bet on oil price i guess
I'll have to lean toward too many.
Read an article that says it'll take 3 years to fill the current number of foreclosed homes.
Things are looking a little bleak around here. Another one of our larger customers has fallen behind by over two months now.
Also heard rumor they're looking for cheaper finishing.
Quality doesn't seem to be a big concern anymore.
If I were single..... I'd retire today....
One guy says they have too many unsold houses and the next says we are going to have a shortage.......
Everybody Panic: The Coming Housing Shortage
The U.S. has a real estate problem. It appears we don't have enough homes to put a roof over everyone's heads.
http://www.housingwatch.com/2010/02/25/everybody-panic-the-coming-housing-shortage/?icid=main|htmlws-main-w|dl4|link3|http%3A%2F%2Fwww.housingwatch.com%2F2010%2F02%2F25%2Feverybody-panic-the-coming-housing-shortage%2F
Not so fast! Better hang on to them! lol!
I am rehbbing them as fast as I can...... I am old and slow - lol
Existing-home sales fall 7.2% to 7-month low
market pulse Feb. 26, 2010
http://www.marketwatch.com/story/existing-home-sales-fall-72-to-7-month-low-2010-02-26?siteid=bnbh
You're not doing your job. :~)
2 cents under the 3rd quarter and 11 cents above the 2nd quarter. I'm happy with this.
With the price of oil going up this week, we should see an increase next quarter.
MV Oil Trust Announces Trust Fourth Quarter Distribution
MV Oil Trust (NYSE: MVO) announced the Trust distribution of Net Profits for the fourth quarterly payment period ended December 31, 2009
Unitholders of record on January 15, 2010 will receive a distribution amounting to $6,612,500 or $0.575 per unit payable January 25, 2010
You and me both but it is still paying 11.25% at today's price.
Probably shoulda got more 5ive dollars ago....
People are generally buying MVO for the dividend, not price appreciation. At today's price this is still one of the best dividend buys out there.
Buffet recently said that if he was working with a smaller amount of money (less than $100 million) he could produce annual returns of 50%. That would mean he was doubling his money every 18 months.
I don't think this is theoretical. He does have a personal investment account seperate from Berkshire that isn't public so he is probably talking from his real world experience.
This is about the same dividend amount MVO was paying a year ago whe we first bought this stock at $21.00. They have finanly surfaced back to where the company was one year ago !
If I would (coulda, woulda, shoulda) have bought this in March at $9 a share, I would now have a 100% gain on the stock price and would be earning a cash dividend of over 20%.
MVO doing great! We are up 20% in the stock price and that HUGE dividend is still perking along.
The record date for this dividend is Oct 15th so you have a few days to get in on this one.
Yes, it varies from quarter to quarter but it has been up every quarter for a few years now.
Yes, very nice. I suppose it fluctuates from quarter to quarter? I'll try to add some more before the next divvy day.
Gonna take another weekend off. #4 since back in June. Got one last nice weekend to take care of things around the house before the weather turns to Shit for 6-8 months.....
The dividend increase makes the annual dividend yield increase to 13.62% on today's price.
I am in hog heaven!
That's a 30% increase over the dividend paid last quarter.
Whoopee!
MV Oil Trust Announces Trust Third Quarter Distribution
MV Oil Trust (NYSE: MVO) announced the Trust distribution of Net Profits for the third quarterly payment period ended September 30, 2009.
Unitholders of record on October 15, 2009 will receive a distribution amounting to $6,842,500 or $0.595000 per unit payable October 23, 2009.
Last summer's "super spike" in oil prices was no fluke. Truth is, "oil prices could bounce back quickly" according to Dow Jones. Because there's no viable cure for the world's 80 million-barrel-a-day oil habit. And OPEC continues to slash production - setting the stage for another oil price shock.
Just threw a few of these into my simple IRA. Lovin' dem divvies!
Just tired of catering to everybody except myself. Business and customers have always come first. When we're busy there's very little time left for me. Another summer gone by with no vacation and home projects sitting idle. My life's been put on hold too long....
http://www.disasternews.net/news/article.php?articleid=3946
Yeah, got a $200,000.00 policy. We're supposed to have at least 7 hours warning in the event of complete failure. Amazingly, it takes that long for the water to reach our area. We used to innertube the river when we were younger. It'd take hours to drift a few miles. The business is in the valley downriver. They say our area is only expected to flood 2-4 feet. Places further down could be as much as 10'.
We should be able to get things up off the floor and/or moved out fairly quick... I think.... Never been flooded before... :~)
Glad to hear your staying busy. I'm guessing you're getting some screamin' deals?
The volume is never very high in this stock because they don't have all that many shares out and people buy it for the dividend so they end up holding it. (Don't put "dividend" and HRCT in the same sentence - lol)
Sounds like you are getting old and no longer willing to put up with all the hassels.
Dam failure? I hope you have flood insurance.
I am back to rehabbing houses now that the market is beginning to stabilize. The best part about it is that I don't have to listen to clients since I own the house. If the buyers don't like it then I can be in trouble but I am more rational when making decisions than most clients are. It is just money and not my personal desires and ego involved.
Yeah, noticed not a whole lotta volume either. HRCT's sister stock? lol!
Been busier then hell. Ending a 19 day streak tomorrow. This will be my 3rd whole weekend off (If I can force myself to stay home) since back in June. Got plenty of work to go another 19, or 30, but I'm getting tired..... Too old for this chit anymore....
Coffers are beginning to recover. Slowly. Too many labor intensive small jobs, samples and odds and ends. Retarded customers constantly sending us ponderosa bark and firewood expecting us turn it into a grand piano finish. Hours upon hours upon hours of excessive prep work. I'm about ready to have them just pick a tree and let me take care of the rest. lol!
On top of that...... There's a new fire inspection entity in town. What has been fine for 22 years, isn't so fine anymore. They want to put major limits on my material storage. And/or dump thousands..... Maybe 10's of thousands of $$$$ into storage upgrade's.
Oh........ And.... We're also in a flood zone. The Howard Hanson dam is on the brink of failure. Officials are warning/expecting flooding this fall/winter/spring due to storage limits of the dam. Might take 5ive years to repair.
Times have changed......
Did ya miss my whinin'? lol! :~)
Up pretty big today for this stock. It usually moves in much smaller increments.
Some people think so. I have read a few articles which hold the opinion that while we will not slip backwards very far, the recovery will take a couple of years.
Painful day all around. Has the suckers rally finally fizzled?
3-Aug-2009
Quarterly Report
Item 2. Trustee's Discussion and Analysis of Financial Condition and Results of Operations.
The following discussion of the Trust's financial condition and results of operations should be read in conjunction with the financial statements and notes thereto. The Trust's purpose is, in general, to hold the net profits interest and the assigned interest in the hedge contracts, to distribute to the Trust unitholders cash that the Trust receives in respect of the net profits interest and the assigned interest in the hedge contracts and to perform certain administrative functions in respect of the net profits interest and the Trust units. The Trust derives substantially all of its income and cash flows from the net profits interest and the hedge contracts.
Eaglwing, an affiliate of SemCrude, purchased substantially all of the oil produced from the underlying properties during June 2008 and the first 18 days of July 2008 and filed bankruptcy on July 22, 2008. Beginning July 18, 2008, substantially all of the production from the underlying properties subject to the net profits interest went into on-location storage tanks and a portion of the oil production was shut-in pending resolution of the marketing process for the production. From July 18, 2008 until July 31, 2008, only minor amounts of crude oil production from the underlying properties were sold. As of July 31, 2008, Vess Oil and Murfin Drilling recommenced general sales of production from the underlying properties, to several purchasers other than Eaglwing, including an affiliated purchaser, under short-term arrangements using market sensitive pricing. As of August 7, 2008, field operations at the underlying properties returned to substantially normal operations, although it took until mid-August before the marketing of crude oil production normalized to the sales process and volumes that existed prior to July 18, 2008. Because of the nonpayment by Eaglwing and decreased crude oil sales by MV Partners during July and August 2008, there were not sufficient net proceeds collected by MV Partners from July 1, 2008 through September 30, 2008 for MV Partners to distribute cash to the Trust with respect to the net profits interest relating thereto. See "-Other Events."
For the three months ended September 30, 2008, direct operating expenses and lease equipment and development costs from the underlying properties exceeded revenues from the underlying properties by an aggregate of $6,049,283 (with the Trust's 80% portion equal to $4,839,426). The deficiency is primarily attributable to the failure of Eaglwing to pay MV Partners the aggregate of approximately $15.5 million originally owed for Eaglwing's purchase of production during June 2008 and the first 18 days of July 2008 and a related decrease in sales of oil production in July and August 2008. Included in the amounts for the three-month period are payments to settle hedges totaling $12,758,898 for the three months ended September 30, 2008. No amounts were received to settle hedges for the three months ended September 30, 2008.
Results of Operations for the Quarters Ended June 30, 2009 and 2008
The cash received by the Trust during the quarter ended June 30, 2009 substantially represents the production by MV Partners from December 2008 through February 2009. The cash received by the Trust during the quarter ended June 30, 2008 substantially represents the production by MV Partners from December 2007 through February 2008. The revenues from oil production are typically received by MV Partners one month after production. Excess of revenues over direct operating expenses and lease equipment and development costs from the underlying properties decreased $4,698,431 to $2,988,731 for the three months ended March 31, 2009 from $7,687,162 for the three months ended March 31, 2008. Included in these amounts are payments to settle hedges totaling $0 for the three months ended March 31, 2009 and $7,761,757 for the three months ended March 31, 2008. In addition, amounts received to settle hedges were $3,346,935 for the three months ended March 31, 2009 and $0
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for the three months ended March 31, 2008, which resulted in a total cash receipts over cash disbursements of $6,335,666 and $7,687,162, respectively. The Trust's net profits interest (80%) of these totals were $5,068,533 and $6,149,730, respectively, resulting in income from net profits interest and hedge activities of $5,068,533 and $6,149,730 for the quarters ended June 30, 2009 and June 30, 2008, respectively. The decrease in such income in 2009 from 2008 is primarily attributable to higher realized prices for unhedged volumes of oil for the 2008 period as compared to the 2009 period.
The Trustee paid general and administrative expenses of $235,196 and $400,143 for the quarters ended June 30, 2009 and 2008, respectively. The distributable income for the quarter ended June 30, 2009 was $4,818,534, a decrease of $1,181,205 from a distributable income of $5,999,739 for the quarter ended June 30, 2008.
The average price received for crude oil sold was $34.16 per Bbl while the average price received for natural gas sold was $3.53 per Mcf for the period from January 1, 2009 through March 31, 2009. The average price received for crude oil sold was $88.45 per Bbl while the average price received for natural gas sold was $5.47 per Mcf for the period from January 1, 2008 through March 31, 2008.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the period from January 1, 2009 through March 31, 2009 were 195,149 Bbls of oil, 18,535 Mcf of natural gas and 1,014 Bbls of natural gas liquids for a total equivalent barrels of oil of 198,897.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the period from January 1, 2008 through March 31, 2008 were 185,112 Bbls of oil, 21,084 Mcf of natural gas and 850 Bbls of natural gas liquids for a total equivalent barrels of oil of 189,178.
The April 2008 distribution of net profits was impacted by production curtailment affecting the underlying properties as the result of winter ice storms that impacted western Kansas. The ice associated with these storms disabled electrical power to the affected underlying properties for an extended period of time resulting in some curtailed production.
The April 2008 distribution of net profits was also impacted by the duplication of hedged volumes in January 2008. January crude oil swap contracts in the notional volume of 45,000 barrels at a price of $62.99 settled in the first quarter of 2008. This volume was in addition to the notional volume of 61,167 barrels that had been scheduled as the average monthly notional volume for 2008. Given the NYMEX price contracts for January crude oil, the incremental hedged volumes resulted in an additional expense of $1,347,255, which reduced the cash available for distribution for the first quarter of 2008 by $1,077,804. This duplication of hedged volumes for January 2008 is a one-time event in the hedge contracts program and will not occur again for the duration of the Trust.
As noted above, the amounts reflected in the accompanying financial statements for the Trust's quarter ended June 30, 2009 reflect cash received by the Trust during the quarter. Such cash is primarily derived from production by MV Partners from December 2008 through February 2009. MV Partners distributed cash to the Trust in July 2009 that will be reflected in the Trust's financial statements for the quarter ended September 30, 2009. The cash distributed to the Trust in July 2009 is primarily derived from production by MV Partners from March 2009 through May 2009. The discussion below relates to cash received by MV Partners during the quarter ended June 30, 2009 and distributed
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to the Trust in July 2009, which will be reflected in the Trust's financial statements for the quarter ending September 30, 2009.
Excess of revenues over direct operating expenses and lease equipment and development costs from the underlying properties decreased $5,316,556 to $4,502,154 for the three months ended June 30, 2009 from $9,818,710 for the three months ended June 30, 2008. Included in these amounts are payments to settle hedges totaling $0 for the three months ended June 30, 2009 and $10,260,421 for the three months ended June 30, 2008. In addition, amounts received to settle hedges were $2,344,003 for the three months ended June 30, 2009 and $0 for the three months ended June 30, 2008, which resulted in a total cash receipts over cash disbursements of $6,846,157 and $9,818,710, respectively. The decrease in 2009 from 2008 is primarily attributable to higher realized prices for unhedged volumes of oil for the 2008 period compared to the 2009 period. The Trust's portion (80%) of these totals were $5,476,925 and $7,854,968, respectively, and were decreased by Trust holdback for future expenses of $175,000 for the quarter ending September 30, 2009 and a repayment of an advance of $400,000 for the quarter ended September 30, 2008, resulting in distributable income of $5,301,925 and $7,454,968 for the quarters ending September 30, 2009 and 2008, respectively.
The average price received for crude oil sold was $45.59 per Bbl while the average price received for natural gas sold was $2.22 per Mcf for the period from April 1, 2009 through June 30, 2009. The average price received for crude oil sold was $109.31 per Bbl while the average price received for natural gas sold was $6.76 per Mcf for the period from April 1, 2008 through June 30, 2008.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the quarter ended June 30, 2009 were 185,801 Bbls of oil, 17,810 Mcf of natural gas and 1,082 Bbls of natural gas liquids for a total equivalent barrels of oil of 189,473.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the quarter ended June 30, 2008 were 196,711 Bbls of oil, 21,686 Mcf of natural gas and 944 Bbls of natural gas liquids for a total equivalent barrels of oil of 200,939.
Results of Operations for the Six Months Ended June 30, 2009 and 2008
As noted above, the revenues from oil production are typically received by MV Partners one month after production, thus the cash received by the Trust during the six months ended June 30, 2009 substantially represents the production by MV Partners from September 2008 through February 2009 and the cash received by the Trust during the six months ended June 30, 2008 substantially represents the production by MV Partners from September 2007 through February 2008. Excess of revenues over direct operating expenses and lease equipment and development costs from the underlying properties decreased $5,924,789 to $10,952,004 for the period from October 1, 2008 through March 31, 2009 from $16,876,793 for the period from October 1, 2007 through March 31, 2008. Included in these amounts are payments to settle hedges totaling $3,429,721 and $12,796,360, respectively. In addition, amounts received to settle hedges were $3,346,935 for the period from October 1, 2008 through March 31, 2009 and $0 for the period from October 1, 2007 through March 31, 2008, which resulted in a total cash receipts over cash disbursements of $14,298,939 and $16,876,793, respectively. The decrease for the period ended March 31, 2009 compared to the period ended March 31, 2008 is primarily attributable to higher realized prices for unhedged volumes of oil for the 2008 period compared to the 2009 period.
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The Trust's portion (80%) of these totals were $11,439,151 and $13,501,435, respectively, with the 2009 result reduced by a recovery of deficiency from the fourth quarter of 2008 in the amount of $4,889,179 which included applicable interest of $49,753 during the six months ended June 30, 2009, resulting in the income from net profits interest and hedge activities of $6,549,972 for that period.
The Trustee paid general and administrative expenses of $495,545 and $551,869 for the six months ended June 30, 2009 and 2008, respectively. The distributable income for the six months ended June 30, 2009 was $5,799,979, a decrease of $7,521,465 from a distributable income of $13,321,444 for the six months ended June 30, 2008.
The average price received for crude oil sold was $54.06 per Bbl while the average price received for natural gas sold was $4.42 per Mcf for the period from October 1, 2008 through March 31, 2009. The average price received for crude oil sold was $84.97 per Bbl while the average price received for natural gas sold was $5.00 per Mcf for the period from October 1, 2007 through March 31, 2008.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the six months ended June 30, 2009 were 390,280 Bbls of oil, 36,434 Mcf of natural gas and 2,130 Bbls of natural gas liquids for a total equivalent barrels of oil of 397,737.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the six months ended June 30, 2008 were 382,017 Bbls of oil, 42,773 Mcf of natural gas and 2,061 Bbls of natural gas liquids for a total equivalent barrels of oil of 390,485.
As noted above, the amounts reflected in the accompanying financial statements for the Trust's six month period ended June 30, 2009 reflect cash received by the Trust during such six month period. Such cash is primarily derived from production by MV Partners from September 2008 through February 2009. MV Partners distributed cash to the Trust in July 2009 that will be reflected in the Trust's financial statements for the nine months ending September 30, 2009. The cash distributed to the Trust in July 2009 is primarily derived from production of the underlying properties from March 2009 through May 2009. The discussion below relates to cash received by MV Partners during the six months ended June 30, 2009 and 2008 and distributed to the Trust in April and July 2009 and 2008, respectively.
Excess of revenues over direct operating expenses and lease equipment and development costs from the underlying properties decreased $10,014,987 to $7,490,885 for the six months ended June 30, 2009 from $17,505,872 for the six months ended June 30, 2008. Included in these amounts are payments to settle hedges totaling $0 and $18,022,179, respectively. In addition, amounts received to settle hedges increased $5,690,938 to $5,690,938 for the six months ended June 30, 2009 from $0 for the six months ended June 30, 2008, which resulted in total cash receipts over cash disbursements of $13,181,823 and $17,505,872, respectively. The Trust's portion (80%) of these totals were $10,545,458 and $14,004,698, respectively, which was decreased by a Trust holdback for future expenses of $425,000 for the six months ended June 30, 2009 and repayments of advances totaling $550,000 for the six months ended June 30, 2008, resulting in distributable income of $10,120,458 and $13,454,698 for the six months ended June 30, 2009 and 2008, respectively.
The average price received for crude oil sold was $39.73 per Bbl while the average price received for natural gas sold was $2.89 per Mcf for the six months ended June 30, 2009. The average price
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received for crude oil sold was $99.20 per Bbl while the average price received for natural gas sold was $6.13 per Mcf for the six months ended June 30, 2008.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the six months ended June 30, 2009 were 380,950 Bbls of oil, 36,345 Mcf of natural gas and 2,097 Bbls of natural gas liquids for a total equivalent barrels of oil of 388,370.
The overall production sales volumes collected attributable to the 80% net profits interest that is for the oil and gas production collected during the six months ended June 30, 2008 were 381,823 Bbls of oil, 42,770 Mcf of natural gas and 1,794 Bbls of natural gas liquids for a total equivalent barrels of oil of 390,117.
Liquidity and Capital Resources
Other than Trust administrative expenses, including any reserves established by the Trustee for future liabilities, the Trust's only use of cash is for distributions to Trust unitholders. Administrative expenses include payments to the Trustee as well as an annual administrative fee to MV Partners pursuant to an administrative services agreement. Each quarter, the Trustee determines the amount of funds available for distribution. Available funds are the excess cash, if any, received by the Trust from the net profits interest, payments from the hedge contracts and other sources (such as interest earned on any amounts reserved by the Trustee) that quarter, over the Trust's liabilities for that quarter. Available funds are reduced by any cash the Trustee decides to hold as a reserve against future liabilities. The Trustee may cause the Trust to borrow funds required to pay expenses if the Trustee determines that the cash on hand and the cash to be received are insufficient to cover the Trust's liabilities. If the Trust borrows funds, the Trust unitholders will not receive distributions until the borrowed funds are repaid.
Income to the Trust from the net profits interest is based on the calculation and definitions of "gross proceeds" and "net proceeds" contained in the conveyance.
As substantially all of the underlying properties are located in mature fields, MV Partners does not expect future costs for the underlying properties to change significantly as compared to recent historical costs other than increases due to increases in the general cost of oilfield services.
Why didn't you tell me about this $7.50 ago? lol!
If this type of stock interests you, you may also be interested in Nordic American Tanker Shipping (NAT) which is currently paying a 11.42% dividend. NAT also has almost no debt and is organized to pay out most of its profits in cash dividends.
Not much controversy on this company so the board should stay peaceful. There is a lot of information to dig out so hopefully the board will be useful to those who like this type of investment.
Investorman- Looks like a good board will start here.
Currently the annual dividend is $1.84 which is 13.10% at today's stock price.
To the best of my knowledge, no stock pays a dividend of 52.4%
Annual or quarterly?
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