This whole question of "how much of MI oil do we get now?" has been interesting to me since the news of the 2% override royalty interest being sold.
I emailed the company about about a week ago, asking "What (if any) portion of oil/revenue is the company now entitled to now that the 2% ORR interest has been sold?"
The little I know about "types of well interests" has led me to believe that a "carried interest" converts into a "working interest." And a "working interest" only represents the portion of expenses the company is responsible to pay. As far as I can tell the % of "working interest" doesn't represent the % of revenue interest at all, except to say that usually a "revenue interest" is somehow proportional to a "working interest."
Anyway, I didn't get a reply to my email. Didn't really expect one, but yesterdays news is a fair substitute for the time being. Whatever the case (per the PR) production from MI translates to revenue ("some" revenue) for Worthingtion, and (also per the PR) we'll soon find out just exactly how much that is and this whole question of "what % of MI do we now net" will be answered difinitively.
Send PM's to molecularcd. It's a yahoo dot com address.
