Smart money is holding on for the next 6-12 months. Hedges come off and with volitile oil markets, anything can happen. Oil prices right now are like a race horse being held back, any news of improving economic activity and oil prices want to take off. GS predicts oil prices of $90-$95/barrel next year.
Vess Oil and Murfin Drilling received funds in late September 2010 for the collection of the sale of oil volumes to SemCrude and Eaglwing for the period prior to such 20-day period. Such funds represent the payout on such claims, less certain charges allowed by the bankruptcy court. Such funds are being assessed and allocated among the various working interest owners, overriding royalty owners and royalty owners. At this time, the amount allocable to MV Partners cannot be determined. Such allocation, and ultimate distribution to the Trust of its applicable portion, is expected to occur in the fourth quarter of 2010, with the Trust expected to distribute such funds as part of its distribution for the fourth quarter of 2010.