I am new to MVO, but I thought I read someplace that MVO had orginally 50 yrs of reserves. Is this correct?
As of Dec 2011 4 MMBoe had been produced. You are allowed 11.5 net MMBoe from Jan 2007 to Jun 2026 or which ever come first. So, starting 2012 there 7.5 net MMBoe yet to be produced.
Not which ever comes first, but rather when both conditions are met.
Even if true would not be relevant since the trust will terminate around 2026 if I recall correctly.
If the trust terminates in 2026, is there any termination value, or does it simply end..