MV Oil Trust (NYSE: MVO) announced the Trust distribution of Net Profits
for the third quarterly payment period ended September 30, 2011.
Unitholders of record on October 17, 2011 will receive a distribution
amounting to $10,637,500 or $0.925 per unit payable October 25, 2011.
Volumes, price and Net Profits for the payment period were:
|
Volume (BOE)
|
|
|
231,996
| |
|
Proceeds (per BOE)
| | |
$84.87
| |
|
Gross Proceeds
| | |
$19,689,757
| |
|
Costs
| | |
$6,231,753
| |
|
Net Profits
| | |
$13,458,004
| |
| Percentage applicable to Trust's 80% | | | |
|
Net Profits Interest
| | |
$10,766,403
| |
|
Total cash proceeds available for the Trust
| | |
$10,766,403
| |
|
Provision for estimated Trust expenses
| | |
($128,903
|
)
|
|
Net cash proceeds available for distribution
| | |
$10,637,500
| |
| | | |
|
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 Trust's Form 10-K for the year ended December 31, 2010 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.
