ron, you ask, "If royalty income was consistent at .10/month, i wonder what our unit price would be? I would think given the huge bull market in energy, people would love to be in a trust that was paying out .10/unit each month."
If you look at the link to Mesa Royalty Trust, our Trust's onshore brother formed by Boone Pickens/Mesa, Inc., their present market price is bid up to yield a 9.2 investor rate of return on the NYSE.
MOSH.OB is traded on the OTC BB "pink sheets" and as such has no institutional Unit holders, so a guess would be that our trading price might be bid up to yield, say 12%; so .10 per mo. X 12 mo. = $1.20 divided by .12 = $10 MV/Unit.
Since mosh was traded on the NYSE until the late 90's when de-listed back when O&G prices cratered, investors will perceive a higher risk/reward if and until the Units qualify (with sufficiently higher proven asset values) for listing on the NASDAQ, American or NYSE.
However, it's not unlikely, in times of very high product prices, to expect investors to bid a "speculative premium" for Units of an energy royalty trust, especially if their producing properties are high profiled in public news announcements. I recall that back in the late 70's following the 74' "oil embargo", monied investors were calling banks in Texas and Oklahoma begging for O&G producer contacts to take their wagers. So when/if potentially major discoveries like our Midway and Nimitz get publicized, investors scope out the owners and try to get a piece of the action. Check this link for a Dow Jones news announcement yesterday to see what is happening to the shares of Petrobras after announcement of their huge discovery offshore Brazil:
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