>>Anyone recall how Royalty Trusts perform when oil & Gas are in a bear or cooling market for their commodities?<<
Poorly, very poorly. To see a simple relationship (and for US trusts not subject to the Halloween Massacre), run a chart for SJT and CRT against NYMEX Nat Gas. You should notice some correlation, but there are always other factors - i.e., tight pipelines meaning no way to move NG, temp shut-ins, etc. You could also chart SJT and CRT distribs, which do tend to follow price - albeit on a 2 or 3 month delay, but once again there are other factors: Cap Ex, lawsuits, etc.
BTE is a mild exception, but even here we saw a significant drop starting in late 2006 due to the Halloween Massacre and O&G price weakness.
If you are in to trade only, this is a dangerous time. Yes, long term O&G will only go up; short term, macro shocks may give us a hiccup sooner rather than later. But then again, Bush could prove he's more venal than we think and invade Iran. Turmoil in O&G follows, with spikes to the moon, but may lead to medium term lower prices as economies around the world grind to a halt.
No matter what you do, remember that free advice is worth what you pay for it, do your own DD, and good luck.