This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Torch Energy Royalty Trust Receives Continued Listing Standards Notice From The New York Stock Exchange

A Note on Forward Looking Statements:

This press release includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934. The words "believe," "expect," "anticipate," "intend," "plan," "estimate," "may," "should," "could," and similar expressions are intended to identify such statements. For example, references to the Trust's expectations regarding the following are forward-looking statements: the future trading price of the Trust's units; and compliance with or the Trust's ability to cure deficiencies under the NYSE listing standards.

Forward-looking statements are not guarantees of future performance and are to be interpreted only as of the date on which they are made. The Trust undertakes no obligation to update or revise any forward-looking statement except as required by law.

Future events or results may differ from those anticipated or expressed in these forward-looking statements.  Important factors that could cause actual events or results to differ materially from these forward-looking statements include, among others, the following risks, uncertainties, assumptions and factors as described in more detail in the Trust's Annual Report on Form 10-K for the year ended December 31, 2010, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011, June 30, 2011, and September 30, 2011, and in other filings the Trust makes with the SEC from time to time:
  • Trust Termination.
  • The Trust's continuing failure to timely file certain periodic reports with the SEC during the wind up and liquidation of the Trust may pose significant risks to the Trust's business, which could materially and adversely affect the Trust financial condition and results of operation and the current and/or future value of the Net Profits Interests.
  • If natural gas and oil prices decline significantly, the Trust's cash flow from operations will likely decline and the Trust may have to lower the cash distributions or may not be able to pay distributions at all during the wind up and liquidation of the Trust.
  • Trust expenses may have an adverse impact on the distributions to Unitholders during the wind up and liquidation of the Trust.
  • The estimated reserve quantities in this report are based on many assumptions that may prove to be inaccurate. Any material inaccuracies in these reserve estimates or underlying assumptions will materially affect the quantities and present value of the Trust's reserves.
  • As more Infill Wells are drilled, they could cause a reduction in amounts payable to the Trust or a purchaser of the Net Profits Interests.
  • The Trust's business is subject to operational risks that may not be fully insured, which, if they were to occur, could adversely affect the Trust's financial condition or results of operations and, as a result, the Trust's ability to pay distributions to Unitholders.
  • The Trust may be unable to compete effectively with larger companies, which may adversely affect the Trust's ability to generate sufficient revenue and its ability to pay distributions to Unitholders prior to the windup and liquidation of the Trust.
  • The Trust's operations are subject to regulations which may limit the Trust's production of natural gas or the price that the Trust receives for natural gas.
  • If it is determined that the Trust is subject to the Texas margin tax, the Trustee may have to withhold a disproportionate amount from future distributions to pay the tax liability.
  • The failure to complete the proposed Texas and Louisiana sale transactions could have an adverse effect on the Trust's business activities, financial condition, results of operations and ability to pay distributions to Unitholders.
  • The market price for the Trust's Units may not reflect the value of the Net Profits Interests held by the Trust.
  • As reflected in Trust's reserve reports, oil and gas sales volumes generated from the Trust's underlying properties will continue to decline over the life of the reserves.  This production decline may result in the  oil and gas wells becoming  uneconomical and the respective wells' operators electing to plug and abandon such wells.  Such costs may adversely impact future cash flows received by the Trust.

Any forward-looking statements in this document should be evaluated in light of the factors and uncertainties referenced above and should not be unduly relied upon.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.13 +189.54 1.09%
S&P 500 2,093.55 +25.91 1.25%
NASDAQ 5,087.6730 +47.8970 0.95%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs