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Mv Oil Trust (MVO) SEC Filing 8-K Material Event for the period ending Friday, October 4, 2019

Mv Oil Trust

CIK: 1371782 Ticker: MVO

Exhibit 99.1

 

MV Oil Trust

 

MV Oil Trust Announces Trust Third Quarter Distribution

 

MV OIL TRUST

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

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Houston, Texas, October 4, 2019 — MV Oil Trust (NYSE Symbol — MVO) announced the Trust distribution of net profits for the third quarterly payment period ended September 30, 2019.

 

Unitholders of record on October 15, 2019 will receive a distribution amounting to $2,472,500 or $0.215 per unit payable October 25, 2019.

 

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

 

Volume (BOE)

 

181,171

 

Average price (per BOE)

 

$

50.87

 

Gross proceeds

 

$

9,216,396

 

Costs

 

$

5,660,238

 

Net profits

 

$

3,556,158

 

Percentage applicable to Trust’s 80%

 

 

 

Net profits interest

 

$

2,844,927

 

MV Partners reserve for capital expenditures

 

$

0

 

Total cash proceeds available for the Trust

 

$

2,844,927

 

Provision for estimated Trust expenses

 

$

(372,427

)

Net cash proceeds available for distribution

 

$

2,472,500

 

 

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 September 30, 2019. 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, 2018 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

 


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

Ticker: MVO
CIK: 1371782
Form Type: 8-K Corporate News
Accession Number: 0001104659-19-053135
Submitted to the SEC: Fri Oct 04 2019 4:15:38 PM EST
Accepted by the SEC: Fri Oct 04 2019
Period: Friday, October 4, 2019
Industry: Crude Petroleum And Natural Gas
Events:
  1. Earnings Release
  2. Financial Exhibit

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