This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Torch Energy Royalty Trust To Begin Trading On OTC Markets

Stocks in this article: TRU

HOUSTON, Jan. 29, 2013 /PRNewswire/ -- Torch Energy Royalty Trust (the "Trust") (NYSE:  TRU) ( www.torchroyalty.com) today announced that the Trust's units will begin trading on the OTC Markets (the "OTC") commencing at market open tomorrow, Wednesday, January 30, 2013 under the new symbol "TRRU".  Trading of the Trust's units on the New York Stock Exchange (the "NYSE") under its old symbol of "TRU" will be suspended at the opening of business on the same date.  Investors will be able to view the Real Time Level II stock quotes on the OTC for TRRU at http://www.otcmarkets.com/stock/TRRU/quote.

As previously announced, the Trust received notice from NYSE Regulation, Inc. that NYSE Regulation had determined to delist the Trust's units from the NYSE, with trading of the units to be suspended prior to the opening of NYSE trading on Wednesday, January 30, 2013.

The Trust was terminated by a vote of the unitholders in January 2008.  The Trust is currently in the wind up and liquidation period.  Under the Trust Agreement, upon termination of the Trust, the remaining assets of the Trust are to be sold and the proceeds distributed to the unitholders.  The assets of the Trust are Net Profits Interests that burden oil and gas properties located at Chalkley Field in Louisiana and fields that produce from the Cotton Valley and Austin Chalk formations in Texas.  In December 2011, following a public auction for such interests, the Trust sold its net profits interests associated with the oil and gas properties at the Robinson's Bend Field in the Black Warrior Basin to Robinson's Bend Production II, LLC.  All of the remaining Net Profits Interests of the Trust are currently being marketed for sale. 

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.  

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs