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Mv Oil Trust (MVO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Mv Oil Trust

CIK: 1371782 Ticker: MVO

Exhibit 99.1

 

MV Oil Trust

 

MV Oil Trust Announces Trust Fourth Quarter Distribution

 

MV OIL TRUST

The Bank of New York Mellon Trust Company, N.A., Trustee

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Houston, Texas, January 4, 2019 — MV Oil Trust (NYSE Symbol — MVO) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2018.

 

Unitholders of record on January 15, 2019 will receive a distribution amounting to $3,622,500 or $0.315 per unit payable January 25, 2019.

 

Volumes, average price and net profits for the payment period were:

 

Volume (BOE)

 

182,368

 

Average price (per BOE)

 

$

60.31

 

Gross proceeds

 

$

10,999,309

 

Costs

 

$

6,224,999

 

Net profits

 

$

4,774,309

 

Percentage applicable to Trust’s 80%

 

 

 

Net profits interest

 

$

3,819,447

 

MV Partners reserve for capital expenditures

 

$

 

Total cash proceeds available for the Trust

 

$

3,819,447

 

Provision for estimated Trust expenses

 

$

(196,947

)

Net cash proceeds available for distribution

 

$

3,622,500

 

 

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 with respect to the quarter ended December 31, 2018. 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, 2017 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.

 

Contact:MV Oil Trust

The Bank of New York Mellon Trust Company, N.A., as Trustee

Michael Ulrich

512-236-6599

 

601 Travis Street, Floor 16, Houston, TX 77002

 


The following information was filed by Mv Oil Trust (MVO) on Friday, January 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Mv Oil Trust provided additional information to their SEC Filing as exhibits

Ticker: MVO
CIK: 1371782
Form Type: 10-K Annual Report
Accession Number: 0001047469-19-001133
Submitted to the SEC: Tue Mar 12 2019 4:20:17 PM EST
Accepted by the SEC: Tue Mar 12 2019
Period: Monday, December 31, 2018
Industry: Crude Petroleum And Natural Gas

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