MV Oil Trust Announces Trust Second Quarter Distribution
Thu July 5, 2012 5:09 PM | about: MVO NEWS PROVIDED BY:
Business Wire
AUSTIN, Texas--(BUSINESS WIRE)-- MV Oil Trust (MVO) announced the Trust distribution of Net Profits for the second quarterly payment period ended June 30, 2012.
Unitholders of record on July 16, 2012 will receive a distribution amounting to $10,925,000 or $0.95 per unit payable July 25, 2012.
Volumes, price and Net Profits for the payment period were:
Volume (BOE) 229,754
Proceeds (per BOE) $ 93.72
Gross Proceeds $ 21,533,629
Costs $ 8,374,662
Net Profits $ 13,158,967
Percentage applicable to Trusts 80%
Net Profits Interest
$ 10,527,173
MV Partners reserve for capital expenditures $ 600,000
Total cash proceeds available for the Trust $ 11,127,173
Provision for estimated Trust expenses $ (202,173 )
Net cash proceeds available for distribution $ 10,925,000
This press release contains forward-looking statements. Although MV Partners, LLC has advised the Trust that MV Partners, LLC believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, and other risk factors described in the Trusts Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Mike Ulrich, 512-236-6599
Source: MV Oil Trust
Copyright Business Wire 2012
