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, 2010.
Unitholders of record on January 18, 2011 will receive a distribution amounting to $7,762,500 or $0.675 per unit payable January 25, 2011.
Volumes, price and Net Profits for the payment period were:
|Percentage applicable to Trust’s 80%|
|Net Profits Interest||$7,191,122|
|Decrease in MV Partners’ Reserve for Future||$750,000|
|Total cash proceeds available for the Trust||$7,941,122|
|Provision for estimated Trust expenses||($178,622)|
|Net cash proceeds available for distribution||$7,762,500|
(1) Although MV Partners has released $750,000 reserved for future capital expenditures, it can reserve at any time up to an aggregate of $1.0 million.
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