MV Oil Trust Announces Trust Second Quarter Distribution
MV Oil Trust announced the Trust distribution of Net Profits for the second quarterly payment period ended June 30, 2008.
Unitholders of record on July 15, 2008 will receive a distribution amounting to $7,454,968 or $.64825809 per unit payable July 25, 2008.
Volumes, Price and Net Profits for the Payment Period were: Volume (BOE) 251,174 Proceeds (BOE) $67.18 Gross Proceeds $16,872,932 Costs $7,054,222 Net Profits $9,818,710 Percentage applicable to Trust’s 80% Net Profits Interest $7,854,968 Total cash proceeds available for the Trust $7,854,968 Provision for estimated Trust expenses $400,000
Net cash proceeds available for distribution $7,454,968
The Trust distribution of Net Profits for the second quarterly payment period ending June 30, 2008 was impacted by the cash payment of the second half of the 2007 Ad Valorem taxes and the provision for estimated Trust expenses. The combined effect of these two items amounted to an approximately $0.10 per unit reduction in the second quarterly period distribution.
Contact:
MV Oil Trust The Bank of New York Trust Company, N.A., as Trustee
Mike Ulrich, 512-236-6599
Source: MV Oil Trust
